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 Indiana before hiring.
Showing 3 reverse mortgage specialists in Sellersburg, IN
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Mortgage Tree Lending of Indiana LLC
470 N Indiana Ave, Sellersburg, IN 47172
8122465626
Chase Home Lending
111 Hunter Station Way, Sellersburg, IN 47172
6197063451
PNC Mortgage
7520 Hwy 311, Sellersburg, IN 47172
8122464411
What Does a Reverse Mortgage Specialist in Sellersburg Cost?
Typical costs for a reverse mortgage specialist in Indiana include an origination fee of up to $6,000 and a mortgage insurance premium of 2% of the homes value plus 0.5% annually. Third party costs such as appraisal title search and recording fees usually range from $1,500 to $3,000. Total closing costs often fall between $7,500 and $15,000 depending on the homes value and loan type. 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 requirements for a reverse mortgage in Sellersburg Indiana?
You must be at least 62 years old to qualify for a Home Equity Conversion Mortgage in Indiana. All borrowers listed on the title must meet this age requirement. The home must also be your primary residence.
Do I need to own my home free and clear to get a reverse mortgage in Indiana?
No you do not need to own your home free and clear. You can use a reverse mortgage to pay off an existing mortgage or other liens. The amount you can borrow depends on your age the homes value and current interest rates.
What happens to the reverse mortgage when I move out or pass away in Indiana?
If you move out or pass away the loan becomes due and payable. Your heirs have 30 days in Indiana to decide to either pay off the loan or sell the home. If the home is sold for less than the loan balance FHA insurance covers the difference.