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Compare reverse mortgage specialists in Oakdale. Review contact information and insurance categorys before you decide.
9 agents listed
Updated May 2026
Oakdale, CA
Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the California before hiring.
Showing 9 reverse mortgage specialists in Oakdale, CA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
A reverse mortgage specialist in Oakdale, California helps homeowners aged 62 and older convert part of their home equity into tax-free funds. California law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage (HECM). Oakdale residents can use these funds for home improvements, medical expenses, or supplementing retirement income while remaining in their homes.
What Does a Reverse Mortgage Specialist in Oakdale Cost?
In California, reverse mortgage costs include an origination fee capped at $6,000, a 2% upfront mortgage insurance premium, and an annual 0.5% premium. Appraisal fees range from $400 to $800, and other closing costs typically total $2,000 to $5,000. Costs vary by lender, loan type, and property value. This is general information, not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What are the eligibility requirements for a reverse mortgage in Oakdale California?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The property must be the borrower's primary residence and meet HUD property standards. California also requires completion of a HUD-approved counseling session before application.
How does California law affect reverse mortgage terms in Oakdale?
California law mandates a three-day right of rescission after closing, allowing borrowers to cancel the loan without penalty. The state also requires lenders to disclose all fees and terms clearly. Non-borrowing spouses have protections under California law if the borrowing spouse passes away.
What costs are associated with a reverse mortgage in Oakdale?
Typical costs include an origination fee (up to $6,000 in California), a mortgage insurance premium (2% of the home value upfront plus 0.5% annually), appraisal fees ($400 to $800), and closing costs. These fees are often financed into the loan rather than paid out of pocket.
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About Our Listings
Brokers listed on BeforeMortgageUSA.com are compiled from publicly available directories, state mortgage licensing authority records, and business listings. Inclusion does not constitute endorsement. We do not verify broker licensing, disciplinary status, or qualifications. Verify each broker's current standing with the California.