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 Wisconsin before hiring.
Showing 2 reverse mortgage specialists in Cudahy, WI
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
BMO Harris Bank Mortgage
4677 S Packard Ave, Cudahy, WI 53110
4144824700
Chase Mortgage
4702 S Packard Ave, Cudahy, WI 53110
4147476113
What Does a Reverse Mortgage Specialist in Cudahy Cost?
Typical costs for a reverse mortgage specialist in Wisconsin include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and appraisal fees ranging from 400 to 800 dollars. Closing costs and third party fees can add 2,000 to 5,000 dollars. Costs vary by lender and loan type. 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 eligibility requirements for a reverse mortgage in Cudahy Wisconsin?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The property must be your primary residence. Wisconsin law also requires you to attend a mandatory counseling session with a HUD approved counselor before you can apply.
Are reverse mortgage proceeds taxable in Wisconsin?
No, reverse mortgage proceeds are not considered income for Wisconsin state tax purposes. The money you receive from a reverse mortgage is a loan advance, not taxable income. However, you should consult a tax professional for your specific situation.