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Showing 2 reverse mortgage specialists in Perry, GA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Security Finance
1205 Sunset Ave, Perry, GA 31069
4789879220
Land & Farm Loans
468 Perry Pkwy, Perry, GA 31069
4789871434
What Does a Reverse Mortgage Specialist in Perry Cost?
Typical costs for a reverse mortgage in Georgia include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees like appraisal and title search. Total closing costs often range from 5,000 to 10,000 dollars. These costs are usually financed into the loan. 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 age requirements for a reverse mortgage in Perry Georgia?
Borrowers must be at least 62 years old. If married, the younger spouse must also be 62 to be on the loan. Georgia law follows federal HUD guidelines for age eligibility.
Do I need to own my home free and clear to get a reverse mortgage in Perry?
No, you can have an existing mortgage. The reverse mortgage pays off your current loan first. You must have enough equity in the home to cover the payoff and closing costs.
Are reverse mortgage proceeds taxable in Georgia?
No, reverse mortgage proceeds are not considered income by the IRS or the state of Georgia. They are loan advances. However, you must still pay property taxes and homeowners insurance.