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Find Reverse Mortgage Specialists Near You in Andover, KS
Looking for a reverse mortgage specialist in Andover? Review the directory below to compare your options.
6 agents listed
Updated May 2026
Andover, KS
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 Kansas before hiring.
Showing 6 reverse mortgage specialists in Andover, KS
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Equity Bank
345 N Andover Rd, Andover, KS 67002
3167335041
Randy Pitts Team/Mulvaney Mortgage Group (A Division of LeaderOne Financial)
149 S Andover Rd, Andover, KS 67002
3164486947
LeaderOne Financial Corporation
149 S Andover Rd Ste 400, Andover, KS 67002
3165592600
Randy Pitts- The Mortgage Squad
149 S Andover Rd, Andover, KS 67002
3165592600
Central Financial Services
1400 Terradyne St # 219, Andover, KS 67002
3164257740
Inland Home Mortgage
1400 Terradyne St, Andover, KS 67002
3166334398
A reverse mortgage specialist in Andover, Kansas helps homeowners aged 62 and older convert home equity into tax-free funds without monthly payments. Kansas law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage (HECM). Specialists guide clients through this process and explain how the loan affects estate planning and Medicaid eligibility in Kansas.
What Does a Reverse Mortgage Specialist in Andover Cost?
Typical costs for a reverse mortgage in Kansas include an origination fee (up to 2% of the first $200,000 of home value plus 1% of the amount above $200,000), a mortgage insurance premium (2% of appraised value upfront plus 0.5% annually), and third-party fees such as appraisal ($400 to $600), title search, and recording fees. Total closing costs often range from $3,000 to $8,000. Kansas does not impose a state-specific reverse mortgage tax. 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 Andover Kansas?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The home must be the primary residence and meet FHA property standards. Kansas does not impose additional state-specific eligibility rules beyond federal HECM requirements.
How does a reverse mortgage affect my heirs in Kansas?
Heirs can repay the loan balance (which is the lesser of the appraised value or the loan amount) to keep the home, or they can sell the home to pay off the loan. Kansas law gives heirs a 6-month grace period after the last borrower dies or moves out to decide, with possible extensions.
Are reverse mortgage proceeds taxable in Kansas?
Reverse mortgage proceeds are considered loan advances, not income, so they are not taxable at the federal or Kansas state level. However, interest on the loan is not deductible until the loan is repaid. Consult a tax professional for your specific situation.
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About Our Listings
Brokers listed on BeforeMortgageUSA.com are compiled from publicly available directories, state mortgage licensing authority records, and business listings. Inclusion does not constitute endorsement. We do not verify broker licensing, disciplinary status, or qualifications. Verify each broker's current standing with the Kansas.