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Showing 2 reverse mortgage specialists in Morrisville, NC
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Lennar Mortgage, LLC Raleigh
1010 Sync St Suite 150, Morrisville, NC 27560
(919) 337-9460
lennarmortgage.com
What Does a Reverse Mortgage Specialist in Morrisville Cost?
Typical costs for a reverse mortgage specialist in North Carolina include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees for appraisal, title search, and recording. Total closing costs often range from 2,000 to 5,000 dollars. These costs can be financed into the loan amount. 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.
Frequently Asked Questions
What are the age requirements for a reverse mortgage in Morrisville North Carolina?
Borrowers must be at least 62 years old. This is a federal requirement for all Home Equity Conversion Mortgages insured by the Federal Housing Administration.
Do I need to live in my home to qualify for a reverse mortgage in Morrisville?
Yes. The home must be your primary residence. In North Carolina, you must occupy the property for at least 183 days per year to maintain the loan.