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Showing 3 reverse mortgage specialists in Liberty Hill, TX
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Guild Mortgage - Cheryl New
13563 W State Hwy 29 #1, Liberty Hill, TX 78642
5125486185
Homewise Financial Corp: Amy Kramer, Mortgage Broker NMLS #1402097
701 Loriner Wy, Liberty Hill, TX 78642
5123377167
Guild Mortgage Company
13563 TX-29 #1, Liberty Hill, TX 78642
5125486185
What Does a Reverse Mortgage Specialist in Liberty Hill Cost?
Typical costs for a reverse mortgage specialist in Texas include an origination fee of up to 2 percent of the maximum claim amount which is capped at 6000 dollars for higher-value homes. Other costs include a HUD counseling fee of about 125 dollars an appraisal fee of 400 to 600 dollars and third-party closing costs of 1500 to 3000 dollars. These amounts vary by loan size and property location. 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 qualifications does a reverse mortgage specialist need in Texas?
In Texas a reverse mortgage specialist must hold a valid mortgage loan originator license through the Nationwide Multistate Licensing System. They must also complete annual continuing education on Texas reverse mortgage laws and federal HECM requirements.
Are there Texas-specific rules for reverse mortgages?
Yes Texas law limits reverse mortgage origination fees to 2 percent of the maximum claim amount for HECM loans. Texas also requires a mandatory three-day rescission period after closing during which the borrower can cancel without penalty.
How does a reverse mortgage affect a Liberty Hill homeowners property taxes?
A reverse mortgage does not change property tax obligations. The homeowner must continue to pay property taxes and homeowners insurance. In Texas failure to pay taxes can trigger a loan default and possible foreclosure.