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Showing 3 reverse mortgage specialists in Denison, TX
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Gary Williams - First United Mortgage Group
931 W Main St, Denison, TX 75020
(903) 624-4995
gwilliams.firstunitedteam.com
What Does a Reverse Mortgage Specialist in Denison Cost?
Typical costs for a reverse mortgage specialist in Texas include an origination fee up to 2 percent of the first 200,000 dollars of the home value plus 1 percent of the amount above 200,000 dollars. Other costs may include appraisal fees around 400 to 600 dollars, title insurance, and recording fees. Total closing costs often range from 2,000 to 5,000 dollars. 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
What are the age requirements for a reverse mortgage in Denison Texas?
Borrowers must be at least 62 years old. For HECM loans, all borrowers listed on the title must meet this age requirement. Texas law also requires that the home be the primary residence.
Do I need counseling before getting a reverse mortgage in Texas?
Yes. Texas law and federal regulations require borrowers to complete a counseling session with a HUD-approved counselor before applying. The session covers loan terms, costs, and alternatives.