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Showing 2 reverse mortgage specialists in Zebulon, NC
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Carolina Mortgage Group Inc
1401 N Arendell Ave, Zebulon, NC 27597
9192693862
PNC Mortgage
300 N Arendell Ave, Zebulon, NC 27597
9194043850
What Does a Reverse Mortgage Specialist in Zebulon Cost?
Typical costs for a reverse mortgage specialist in North Carolina include an origination fee of up to $6,000, a mortgage insurance premium of 2% of the home value, and third-party fees like appraisal ($400 to $800) and title search ($500 to $1,000). Closing costs generally range from $2,500 to $8,000. These costs are often financed into the loan. 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 does a reverse mortgage specialist in Zebulon do?
A reverse mortgage specialist helps homeowners understand and apply for a Home Equity Conversion Mortgage (HECM) insured by the FHA. They explain loan terms, costs, and repayment rules specific to North Carolina law. The specialist also coordinates with HUD-approved counselors required by state regulations.
Are there age requirements for a reverse mortgage in North Carolina?
Yes, the borrower must be at least 62 years old. For married couples, both spouses must meet the age requirement if both are on the title. North Carolina law does not allow exceptions to this federal age rule.
What property types qualify for a reverse mortgage in Zebulon?
Eligible properties include single-family homes, HUD-approved condominiums, and manufactured homes that meet FHA standards. The property must be the borrower's primary residence. North Carolina does not allow reverse mortgages on investment properties or second homes.