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 Pennsylvania before hiring.
Showing 2 reverse mortgage specialists in Chalfont, PA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Shivparivar LLC DBA Deep Mortgage
936 Longwood Ct, Chalfont, PA 18914
2678955960
Chase Financial Mortgage Services, Realtor
105 Janton Way, Chalfont, PA 18914
2152624877
What Does a Reverse Mortgage Specialist in Chalfont Cost?
Typical costs for a reverse mortgage specialist in Pennsylvania include an origination fee of up to 2% of the home value, a mortgage insurance premium of 2% of the appraised value, and third-party fees for appraisal, title search, and recording. Total closing costs often range from 2,000 to 8,000 dollars depending on the property value and loan type. 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 Chalfont do?
A reverse mortgage specialist guides homeowners through the HECM process, including eligibility checks, counseling requirements, and loan options. They explain how the loan works with Pennsylvania property tax and insurance rules. Specialists do not provide legal or financial advice.
What are the age and ownership requirements for a reverse mortgage in Pennsylvania?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The home must be the borrower's primary residence. Pennsylvania law requires the property to be in good condition and meet FHA standards.
How does Pennsylvania law affect reverse mortgage proceeds?
Pennsylvania does not tax reverse mortgage proceeds as income. However, borrowers must continue paying property taxes and homeowners insurance. If taxes or insurance are not paid, the loan may become due. Pennsylvania also has a 180-day redemption period after a foreclosure notice.