Find Reverse Mortgage Specialists in Kihei, HI
Looking for a reverse mortgage specialist in Kihei? 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 Hawaii before hiring.
Showing 13 reverse mortgage specialists in Kihei, HI
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A reverse mortgage specialist in Kihei, Hawaii helps homeowners aged 62 and older convert part of their home equity into cash. Hawaii law requires that borrowers receive counseling from a HUD-approved agency before obtaining a reverse mortgage. Kihei residents often use these funds for home repairs, medical expenses, or supplementing retirement income.
What Does a Reverse Mortgage Specialist in Kihei Cost?
Typical costs for a reverse mortgage in Hawaii 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 various third-party fees such as appraisal and title search. Total closing costs often range from 5,000 to 10,000 dollars. These costs can be 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 eligibility requirements for a reverse mortgage in Kihei?
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 you must attend a counseling session with a HUD-approved counselor.
Are reverse mortgages regulated differently in Hawaii?
Yes, Hawaii follows federal HUD guidelines but also requires a mandatory counseling session with a local or remote HUD-approved agency. There is no state-specific waiting period beyond the federal three-day rescission right after closing.
What types of homes qualify for a reverse mortgage in Kihei?
Single-family homes, HUD-approved condominiums, and townhouses qualify. Manufactured homes may qualify if they meet HUD standards. Leasehold properties in Hawaii may also qualify if the lease has at least 50 years remaining.