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 Tennessee before hiring.
Showing 2 reverse mortgage specialists in Hixson, TN
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
FirstBank Mortgage
1959 Northpoint Blvd, Hixson, TN 37343
8002006462
Nexa Mortgage Chattanooga
563 Deer Valley Dr, Hixson, TN 37343
4236647423
What Does a Reverse Mortgage Specialist in Hixson Cost?
Typical costs for a reverse mortgage specialist in Tennessee include an origination fee of up to $6,000 and a mortgage insurance premium of 2% of the home value. Third-party closing costs such as appraisal and title search usually range from $2,000 to $5,000. Costs vary by loan amount and lender. 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 Hixson Tennessee?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The property must be your primary residence. Tennessee does not have additional state-specific eligibility rules beyond federal HUD requirements.
Do I have to pay property taxes on a reverse mortgage in Tennessee?
Yes you must continue to pay property taxes and homeowners insurance. Tennessee does not have a state income tax but local property taxes still apply. Failure to pay taxes can lead to loan default.
Can a reverse mortgage be foreclosed in Tennessee?
Yes if you fail to pay property taxes or insurance or move out of the home for more than 12 months. Tennessee law allows the lender to initiate foreclosure after a default. Counseling helps you understand these risks.