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 4 reverse mortgage specialists in Vallejo, 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.
Crestline Financial
320 Arkansas St, Vallejo, CA 94590
7076424900
US Bank Mortgage
1200 Tennessee St, Vallejo, CA 94590
8008722657
Bay Area Mortgage Pros
2591 Marshfield Rd, Vallejo, CA 94591
7077204133
First Time Buyers - 1st. Credential Mortgage, Inc.
300 Broadway, Vallejo, CA 94590
7076450515
What Does a Reverse Mortgage Specialist in Vallejo Cost?
Typical costs for a reverse mortgage specialist in California include an origination fee up to 6000 dollars for a 400000 home. Appraisal fees range from 450 to 600 dollars and title insurance costs vary by county. HUD counseling fees are capped at 150 dollars but many agencies offer sliding scale fees. Closing costs generally total 2000 to 5000 dollars and can be added to the loan balance. 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 Vallejo 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 borrowers primary residence and be a single family home HUD approved condominium or manufactured home. California law also requires a financial assessment to ensure the borrower can pay property taxes and insurance.
How does California law affect reverse mortgage terms?
California Civil Code Section 1923.5 requires a 30 day cooling off period after counseling before loan closing. Borrowers can rescind the loan within three business days after signing. Reverse mortgages in California are non recourse loans meaning the borrower or heirs will never owe more than the homes value.
What costs are involved with a reverse mortgage specialist in Vallejo?
Specialists typically charge an origination fee capped at 2 percent of the first 200000 of home value plus 1 percent of the amount above 200000. Third party costs include appraisal fees around 450 to 600 dollars and counseling fees of 125 to 150 dollars. These costs can be financed into the loan.