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 5 reverse mortgage specialists in Clarks Summit, 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.
Jerry McMyne at Noble Nest Mortgage
255 E Grove St 2nd Fl, Clarks Summit, PA 18411
5704648075
Guild Mortgage - Barbara Moody
222 W Grove St, Clarks Summit, PA 18411
5703195111
Guild Mortgage Company
222 W Grove St, Clarks Summit, PA 18411
5703195111
Guild Mortgage - Gregory Strony
222 W Grove St, Clarks Summit, PA 18411
5703192010
SWBC Mortgage Clarks Summit
5 Zimmerman St, Clarks Summit, PA 18411
2674853593
What Does a Reverse Mortgage Specialist in Clarks Summit Cost?
Typical costs for a reverse mortgage specialist in Pennsylvania include an origination fee up to 2 percent of the home value, with a cap of 6,000 dollars. Other expenses include a mortgage insurance premium of 2 percent of the appraised value and third-party fees for appraisal and title search. Total closing costs often range from 5,000 to 15,000 dollars. 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 eligibility requirements for a reverse mortgage in Clarks Summit Pennsylvania?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The property must be your primary residence and meet FHA standards. Pennsylvania law also requires a financial assessment to ensure you can pay taxes and insurance.
How does a reverse mortgage affect my heirs in Pennsylvania?
Heirs can repay the loan by selling the home or using other funds. If the loan balance exceeds the home value, heirs are not required to pay more than the appraised value. Pennsylvania law gives heirs up to 12 months to decide after the last borrower dies.