Reverse Mortgage Specialists in Temple City, CA
Directory of reverse mortgage specialists in Temple City, California. Verify credentials with the state state mortgage licensing authority before hiring.
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
State Mortgage Licensing Authority of California before hiring.
Showing 4 reverse mortgage specialists in Temple City, 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.
What Does a Reverse Mortgage Specialist in Temple City Cost?
Upfront costs include an origination fee capped at $6,000 by HUD, a mortgage insurance premium of 2% of the home value, and appraisal fees typically between $400 and $600. Annual costs include a 0.5% mortgage insurance premium and servicing fees around $30 per month. Total closing costs in California usually range from $2,500 to $8,000 depending on the loan amount and property value. This is general information and 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 age requirements for a reverse mortgage in Temple City?
Borrowers must be at least 62 years old. If there are multiple owners on the title, all owners must meet this age requirement. The home must be the borrowers primary residence.
Are reverse mortgages regulated differently in California?
Yes. California Civil Code Section 1923.2 requires a three-day right of rescission after loan closing. Lenders must also provide a list of HUD-approved counseling agencies. These rules protect borrowers from high-pressure sales tactics.
What types of homes qualify for a reverse mortgage in Temple City?
Single-family homes, FHA-approved condominiums, and manufactured homes that meet HUD standards qualify. The property must be in good condition and pass an FHA appraisal. Two-to-four unit properties may also qualify if the borrower occupies one unit.