Find Reverse Mortgage Specialists in Carrollton, TX
Looking for a reverse mortgage specialist in Carrollton? Review the directory below to compare your options.
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 Texas before hiring.
Showing 6 reverse mortgage specialists in Carrollton, TX
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A reverse mortgage specialist in Carrollton Texas helps homeowners aged 62 and older convert home equity into loan proceeds. Texas law requires borrowers to complete a counseling session with a HUD approved counselor before applying. Specialists guide clients through the Texas Home Equity Conversion Mortgage rules and ensure compliance with state regulations.
What Does a Reverse Mortgage Specialist in Carrollton Cost?
Typical costs for a reverse mortgage specialist in Texas include an origination fee up to 2 percent of the home value or $6000 whichever is less. Third party costs like appraisal title insurance and recording fees range from $2000 to $5000. Borrowers also pay a monthly servicing fee of up to $35. These costs vary by case. 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 age requirements for a reverse mortgage in Carrollton Texas?
Borrowers must be at least 62 years old. All owners listed on the title must meet this age requirement. Texas law also requires that the home be the borrower primary residence.
Do I need counseling before getting a reverse mortgage in Texas?
Yes Texas law mandates that all borrowers complete a counseling session with a HUD approved counselor. This session must occur before the loan application is submitted. The counselor explains the costs and obligations of the loan.
What property types qualify for a reverse mortgage in Carrollton?
Single family homes and HUD approved condominiums qualify. Manufactured homes may qualify if they meet FHA requirements. The property must be in good condition and pass a FHA appraisal.