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Showing 2 reverse mortgage specialists in Naugatuck, CT
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Marion Szarzynski - Annie-Mac Home Mortgage
175 Church St, Naugatuck, CT 06770
2037685098
Amity Mortgage LLC
223 Meadow St, Naugatuck, CT 06770
2037296681
What Does a Reverse Mortgage Specialist in Naugatuck Cost?
Typical costs for a reverse mortgage in Connecticut include an origination fee of up to $6,000, a mortgage insurance premium of 2% of the home value, and third party fees like appraisal and title search ranging from $500 to $1,500. Closing costs usually total between $2,000 and $8,000 depending on the loan amount and property value. These costs are often financed into the loan. 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 and property requirements for a reverse mortgage in Naugatuck?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The property must be your primary residence and can be a single family home, a 2-4 unit property, or a HUD approved condominium in Naugatuck.
Do I need counseling before getting a reverse mortgage in Connecticut?
Yes. Connecticut law requires all reverse mortgage applicants to attend a counseling session with a HUD approved counselor. The session explains loan terms, costs, and alternatives. You will receive a certificate of completion before the lender can process your application.
Can I lose my home with a reverse mortgage in Naugatuck?
You can lose your home if you fail to pay property taxes, maintain homeowners insurance, or keep the property in good repair. Connecticut law also requires lenders to verify your ability to meet these obligations before closing. As long as you meet these requirements you can stay in your home.