Reverse Mortgage Specialists in Wilkes-Barre, PA
Browse reverse mortgage specialists serving Wilkes-Barre, Pennsylvania. Contact information and addresses listed below.
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
State Mortgage Licensing Authority of Pennsylvania before hiring.
Showing 6 reverse mortgage specialists in Wilkes-Barre, 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.
Reverse mortgage specialists in Wilkes-Barre help homeowners aged 62 and older convert part of their home equity into tax-free funds. In Pennsylvania, borrowers must complete a HUD-approved counseling session before applying. Local specialists guide clients through the process, including understanding loan terms and property tax obligations under state law.
What Does a Reverse Mortgage Specialist in Wilkes-Barre Cost?
Typical costs for a reverse mortgage in Pennsylvania include an origination fee (up to $6,000), a mortgage insurance premium (2% of the home value upfront plus 0.5% annually), and third-party fees such as appraisal ($400 to $800) and title search ($500 to $1,000). Closing costs generally range from $2,000 to $8,000. These costs can be 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 are the eligibility requirements for a reverse mortgage in Wilkes-Barre?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The home must be your primary residence and meet FHA property standards. Pennsylvania law requires a mandatory counseling session with a HUD-approved counselor before you can proceed.
How much can I borrow with a reverse mortgage in Pennsylvania?
The amount depends on your age, the appraised value of your home, and current interest rates. In 2024, the maximum claim amount for FHA reverse mortgages is $1,089,300. A specialist can calculate your estimated loan amount based on these factors.