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Compare reverse mortgage specialists in Forest. Review contact information and insurance categorys before you decide.
3 agents listed
Updated May 2026
Forest, VA
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 Virginia before hiring.
Showing 3 reverse mortgage specialists in Forest, VA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Bank of the James Mortgage
17000 Forest Rd # B, Forest, VA 24551
4345348090
Drew Jaeger - Mortgage Broker
15115 Forest Rd, Forest, VA 24551
4344202593
Kristin Hunley Armbrust
15115 Forest Rd, Forest, VA 24551
4342587808
A reverse mortgage specialist in Forest, Virginia helps homeowners aged 62 and older convert home equity into tax-free funds without monthly payments. Virginia law requires borrowers to complete HUD-approved counseling before applying. Forest residents often use these loans to supplement retirement income or cover medical expenses.
What Does a Reverse Mortgage Specialist in Forest Cost?
In Virginia, reverse mortgage costs include an origination fee, third-party charges like appraisal and title search, and a mortgage insurance premium. Origination fees are capped by HUD: 2 percent of the first 200,000 dollars of the home value plus 1 percent of the amount over 200,000 dollars. Third-party costs typically range from 1,500 to 3,500 dollars. The upfront mortgage insurance premium is 2 percent of the appraised value. Annual mortgage insurance is 0.5 percent of the loan balance. These costs are usually rolled into the loan. 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 eligibility requirements for a reverse mortgage in Forest Virginia?
You must be at least 62 years old and own your home outright or have a small mortgage balance. The property must be your primary residence. Virginia law also mandates a financial assessment to ensure you can pay property taxes and insurance.
How does a reverse mortgage affect my heirs in Virginia?
Heirs can keep the home by paying off the loan balance or selling the property. If the loan balance exceeds the home value, heirs are not personally liable for the difference under federal non-recourse rules. Virginia law provides a six-month grace period after the last borrower dies before the loan becomes due.
Are there any upfront costs for a reverse mortgage in Virginia?
Yes, typical upfront costs include an origination fee, appraisal fee, and mortgage insurance premium. In Virginia, the origination fee is capped at 2 percent of the first 200,000 dollars of home value plus 1 percent of the amount above that. Total closing costs often range from 2,000 to 5,000 dollars.
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About Our Listings
Brokers listed on BeforeMortgageUSA.com are compiled from publicly available directories, state mortgage licensing authority records, and business listings. Inclusion does not constitute endorsement. We do not verify broker licensing, disciplinary status, or qualifications. Verify each broker's current standing with the Virginia.