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 4 reverse mortgage specialists in Oak Ridge, 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.
Mortgage Investors Group
113 Lafayette Dr Building A, Suite 100, Oak Ridge, TN 37830
8654828910
Lorie Wilson
113 Lafayette Dr, Oak Ridge, TN 37830
8658514382
Wendy Thompson Team Oak Ridge Mortgage Brokers & Lending Company
100 E Tennessee Ave, Oak Ridge, TN 37830
8652058558
Chase Home Lending
235 S Illinois Ave, Oak Ridge, TN 37830
6154067930
What Does a Reverse Mortgage Specialist in Oak Ridge Cost?
Typical costs for a reverse mortgage in Tennessee include an origination fee of up to $6,000 an appraisal fee of $400 to $600 and an upfront mortgage insurance premium of 2% of the home value. Annual mortgage insurance is 0.5% of the loan balance. Closing costs generally range from $2,000 to $8,000. These costs can be financed into the loan so you do not pay them out of pocket. 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
Who qualifies for a reverse mortgage in Oak Ridge Tennessee?
To qualify you must be at least 62 years old own your home outright or have a low mortgage balance and live in the property as your primary residence. Tennessee law also requires you to attend a counseling session with a HUD-approved counselor before applying.
What are the costs of a reverse mortgage in Tennessee?
Costs include an origination fee typically up to $6,000 an appraisal fee around $500 and mortgage insurance premiums. In Tennessee closing costs generally range from $2,000 to $8,000 but vary by loan amount and lender.
Can I lose my home with a reverse mortgage in Oak Ridge?
Yes you can lose your home if you fail to pay property taxes or homeowners insurance or if you stop living in the home for more than 12 consecutive months. Tennessee law does not provide extra protections beyond federal HECM rules.