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Showing 2 reverse mortgage specialists in Norwich, 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.
A-Z Mortgage Co LLC
34 Courthouse Square # 3, Norwich, CT 06360
8608871698
Norwich Financial LLC
11 Wawecus St, Norwich, CT 06360
8608878811
What Does a Reverse Mortgage Specialist in Norwich Cost?
Typical costs for a reverse mortgage specialist in Connecticut include an origination fee of up to 2 percent of the home value and a mortgage insurance premium of 2 percent of the appraised value. Third-party costs such as appraisal title search and recording fees usually range from 500 to 1500 dollars. These costs can be financed into the loan rather than paid upfront. 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 qualifications must a reverse mortgage specialist have in Connecticut?
In Connecticut a reverse mortgage specialist must hold a valid mortgage loan originator license through the Nationwide Multistate Licensing System. They must also comply with Connecticut General Statutes Section 36a-485 which governs reverse mortgage lending and requires clear disclosure of terms.
Are there age requirements for a reverse mortgage in Norwich Connecticut?
Yes the minimum age for a Home Equity Conversion Mortgage in Connecticut is 62 years old. All borrowers listed on the title must meet this age requirement. This follows federal HUD rules that apply nationwide including Norwich.