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 Missouri before hiring.
Showing 6 reverse mortgage specialists in Blue Springs, MO
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Flat Branch Home Loans - John Gieras
1900 NW S Outer Rd Suite 110, Blue Springs, MO 64015
8163733232
Supreme Lending
1200 NW S Outer Rd Suite 101, Blue Springs, MO 64015
8163733232
New American Funding - Blue Springs, MO
1204 W Main St, Blue Springs, MO 64015
8162536637
Byron Alexandro Mortgage Broker
900 W Main St, Blue Springs, MO 64015
8165709952
Heritage MortgageKC, llc
509 NW 5th St Suite 100, Blue Springs, MO 64014
8166789283
Lucas Elsberry-U.S. Bank Mortgage
1500 SW State Rte 7, Blue Springs, MO 64014
8163855644
What Does a Reverse Mortgage Specialist in Blue Springs Cost?
Typical costs for a reverse mortgage in Missouri include an origination fee (up to $6,000), a mortgage insurance premium (2% of the home value upfront plus 0.5% annually), and third-party fees for appraisal, title search, and recording. Total closing costs often range from $8,000 to $15,000, depending on the home value and loan type. 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 age and equity requirements for a reverse mortgage in Blue Springs Missouri?
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 HUD property standards. Missouri does not have additional state age requirements beyond the federal minimum.
Do I need counseling before getting a reverse mortgage in Missouri?
Yes, Missouri law requires all borrowers to complete a HUD-approved counseling session before applying for a reverse mortgage. This counseling is designed to ensure you understand the loan terms, costs, and alternatives. The counselor will provide a certificate that the lender must receive before processing the loan.
What happens to the reverse mortgage when I move out or pass away in Missouri?
If you move out permanently or pass away, the loan becomes due. Heirs have a limited time to either pay off the loan balance or sell the home. Missouri law provides a 30-day grace period after a maturity event, with extensions possible for good cause. Heirs are not personally liable for any deficiency if the home sale does not cover the loan.