A reverse mortgage specialist in Shreveport Louisiana helps homeowners aged 62 and older convert part of their home equity into cash. Louisiana law requires borrowers to complete a counseling session with a HUD-approved counselor before obtaining a reverse mortgage. This service is especially relevant for Shreveport residents who want to supplement retirement income while staying in their homes.
What Does a Reverse Mortgage Specialist in Shreveport Cost?
Typical costs for a reverse mortgage specialist in Louisiana include an origination fee which can be up to 2 percent of the home value with a cap of 6 thousand dollars. Other costs include a mortgage insurance premium of 2 percent of the home value upfront plus annual premiums of 0.5 percent. Appraisal fees in Shreveport range from 400 to 700 dollars and counseling fees are usually 125 to 250 dollars. These 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.
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Reverse Mortgage Specialists in Other Louisiana Cities
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