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 Washington before hiring.
Showing 7 reverse mortgage specialists in Lakewood, WA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Veterans Lending Group - Lakewood
9919 Bridgeport Way SW, Lakewood, WA 98499
2535289558
Taylor Radniecki at Veterans Lending Group
9919 Bridgeport Way SW, Lakewood, WA 98499
2533802380
Pacific Equity & Loan
3620 100th St SW Suite B, Lakewood, WA 98499
2065312729
Fairway Independent Mortgage Corporation
9124 Gravelly Lake Dr SW, Lakewood, WA 98499
2533978310
Kenneth B. Cox at Rate (NMLS #217751)
4928 109th St SW STE B, Lakewood, WA 98499
2532511580
Empire Home Loans Inc.- Carol Pope, NMLS#403897
9203 70th St SW, Lakewood, WA 98498
2533802734
US Bank Mortgage
Lakewood, WA 98499
8008722657
What Does a Reverse Mortgage Specialist in Lakewood Cost?
Typical costs for a reverse mortgage in Washington include an origination fee up to 2 percent of the home value with a cap of 6000 dollars, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees for appraisal and title work. For a 400000 dollar home, total closing costs often range from 8000 to 14000 dollars. These costs are usually 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 Lakewood Washington?
Borrowers must be at least 62 years old. The youngest borrower on the title must meet this age requirement under federal HUD rules that apply in Washington state.
Do I need to own my home free and clear to qualify in Lakewood?
No. You can have an existing mortgage, but the reverse mortgage must be used to pay off that loan first. Any remaining equity is available to you. Washington law does not require full ownership.
What counseling is required for a reverse mortgage in Washington?
Washington law mandates that you complete a counseling session with a HUD-approved independent counselor. This session covers loan terms, costs, and alternatives. The counselor must be unaffiliated with the lender.