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Find Reverse Mortgage Specialists in Socorro, TX

Directory of reverse mortgage specialists in Socorro, Texas. Verify credentials with the state mortgage licensing authority before hiring.

3 agents listed
Updated May 2026
Socorro, TX
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 Texas before hiring.
Showing 3 reverse mortgage specialists in Socorro, 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.
World Finance
10755 N Loop Dr M, Socorro, TX 79927
9158592121
Credit Central
10725 N Loop Dr #106, Socorro, TX 79927
9158593668
Security Finance
657 Horizon Blvd Suite H, Socorro, TX 79927
9157900220

Reverse mortgage specialists in Socorro Texas help homeowners aged 62 and older convert home equity into loan proceeds without monthly payments. Texas law requires borrowers to complete a counseling session with a HUD-approved counselor before applying. These specialists can explain how a reverse mortgage affects your property taxes and heirs in El Paso County.

What Does a Reverse Mortgage Specialist in Socorro Cost?

Typical costs for a reverse mortgage in Texas include an origination fee of up to 2 percent of the home value, an upfront mortgage insurance premium of 2 percent, and appraisal fees between 400 and 600 dollars. Closing costs generally range from 2,000 to 5,000 dollars. These fees can be financed into the loan. 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 Socorro Texas?
Borrowers must be at least 62 years old. If married, the younger spouse must also be 62 to be listed on the loan. Texas follows federal HUD guidelines for age eligibility.
Do I need to own my home free and clear to get a reverse mortgage in Socorro?
No, you can have an existing mortgage. The reverse mortgage pays off that debt first. You must have sufficient equity in the home, typically at least 50 percent, to qualify.