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 Mississippi before hiring.
Showing 2 reverse mortgage specialists in Oxford, MS
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
GMFS Mortgage - Oxford
410 Enterprise Dr, Oxford, MS 38655
6627624502
Guild Mortgage - Jason Lowe
428 S Lamar Blvd Suite 113, Oxford, MS 38655
6018506159
What Does a Reverse Mortgage Specialist in Oxford Cost?
Typical costs for a reverse mortgage in Mississippi include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent upfront plus 0.5 percent annually, and third-party costs such as appraisal and title fees. Total closing costs often range from 2,000 to 8,000 dollars depending on home value and lender. 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 is a reverse mortgage specialist in Oxford Mississippi?
A reverse mortgage specialist is a licensed professional who helps seniors understand and apply for HECM loans. They explain Mississippi specific rules such as the requirement for non-borrowing spouses to be protected under certain loan types.
Do I need counseling before getting a reverse mortgage in Mississippi?
Yes. Federal law and Mississippi regulations require all borrowers to attend a counseling session with a HUD-approved counselor. This session must occur before you submit a loan application.
What happens to my home if I move out of Oxford Mississippi?
If you permanently leave the home for more than 12 consecutive months the loan becomes due. This includes moving to a nursing home or assisted living facility. You may need to sell the home to repay the loan.