Reverse Mortgage Specialists in Delray Beach, FL
Looking for a reverse mortgage specialist in Delray Beach? Review the directory below to compare your options.
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 Florida before hiring.
Showing 13 reverse mortgage specialists in Delray Beach, FL
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 Delray Beach Cost?
In Florida reverse mortgage costs include an origination fee capped at 6000 dollars or 2.5 percent of the first 200000 dollars of home value plus 0.5 percent of the amount above that. Upfront mortgage insurance premium is 2 percent of the appraised value. Third party costs such as appraisal title search and recording fees typically range from 1000 to 3000 dollars. Annual mortgage insurance premiums are 0.5 percent of the loan balance. All costs vary by lender and loan type. 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 does a reverse mortgage specialist in Delray Beach do?
A specialist guides you through the reverse mortgage process including eligibility counseling and loan options. They help you understand Florida specific rules such as the three day rescission period after closing. They do not provide legal advice but can refer you to a Florida licensed attorney for estate planning concerns.
Are there age requirements for a reverse mortgage in Florida?
Yes all borrowers must be at least 62 years old. The home must be your primary residence. Florida law does not allow reverse mortgages on investment properties or second homes.
What costs are involved with a reverse mortgage in Delray Beach?
Typical costs include an origination fee up to 6000 dollars a mortgage insurance premium of 2 percent of the home value and third party fees for appraisal and title search. These costs are usually financed into the loan so you pay little upfront. Florida law requires a detailed loan estimate within three business days of application.