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Showing 2 reverse mortgage specialists in Bellbrook, OH
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
New American Funding - Lisa Seibert
52 Bellbrook Plaza, Bellbrook, OH 45305
9375455478
New American Funding - Bellbrook, OH
63 Bellbrook Plaza, Bellbrook, OH 45305
3268003069
What Does a Reverse Mortgage Specialist in Bellbrook Cost?
In Ohio, reverse mortgage costs typically include an origination fee of up to 6000 dollars, a 2 percent upfront mortgage insurance premium, and annual mortgage insurance of 0.5 percent. Appraisal fees in Greene County range from 400 to 600 dollars. Other closing costs such as title search and recording fees add 500 to 1500 dollars. Total costs vary by loan amount 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 are the Ohio specific requirements for a reverse mortgage?
Ohio requires all borrowers to attend a HUD approved counseling session before submitting a reverse mortgage application. The counseling must be completed within 180 days of the loan closing. Ohio also mandates that the borrower maintain the property and pay property taxes and homeowners insurance.
How does a reverse mortgage work in Bellbrook Ohio?
A reverse mortgage allows Bellbrook homeowners aged 62 or older to borrow against their home equity. The loan becomes due when the borrower sells the home, moves out permanently, or passes away. Ohio law protects surviving spouses by allowing them to remain in the home under certain conditions.
What costs are associated with a reverse mortgage in Ohio?
Typical costs include an origination fee (up to 6000 dollars), a mortgage insurance premium (2 percent of the home value upfront plus 0.5 percent annually), appraisal fees (400 to 600 dollars), and closing costs. Ohio law limits some fees but total costs vary by lender and loan type.