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 Elm Grove, 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.
Julie Waldron, Loan Officer, NMLS # 265905 - American Financial Network, Inc.
12970 W Bluemound Rd Suite 306, Elm Grove, WI 53122
4143059915
White Oak Mortgage LLC
910 Elm Grove Rd UNIT 35, Elm Grove, WI 53122
2627867300
What Does a Reverse Mortgage Specialist in Elm Grove Cost?
Typical costs for a reverse mortgage in Wisconsin include an origination fee of up to 6000 dollars, a mortgage insurance premium of 2 percent of the home value, and third party fees for appraisal title and recording. Total closing costs often range from 8000 to 15000 dollars depending on home value and loan type. These costs are usually financed into the loan so you pay little upfront. 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 and property requirements for a reverse mortgage in Elm Grove Wisconsin?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The property must be your primary residence and a single family home, HUD approved condo, or manufactured home that meets FHA standards. Wisconsin law does not add extra age limits beyond federal rules.
Is counseling required before getting a reverse mortgage in Wisconsin?
Yes, Wisconsin law requires all borrowers to complete a counseling session with a HUD approved counselor before applying. The session covers loan costs, payment options, and alternatives. You must receive a signed counseling certificate before the lender can process your application.