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 Alabama before hiring.
Showing 16 reverse mortgage specialists in Decatur, AL
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Liberty Finance of Decatur
6th Ave SE, Decatur, AL 35601
2563404833
CrossCountry Mortgage LLC - Anna McCaghren Wilson
2708-2 Hwy 31 S Ste C, Decatur, AL 35603
2563037886
1st Franklin Financial
725 Beltline Rd SW, Decatur, AL 35601
2563550361
Tower Loan
2418 Danville Rd SW, Decatur, AL 35603
2562609840
Mutual of Omaha Mortgage
2600 Point Mallard Pkwy SE, Decatur, AL 35603
2562813169
Dream Home Mortgage LLC
101 14th St SW, Decatur, AL 35601
2566864050
OneMain Financial
1602 Beltline Rd SW, Decatur, AL 35601
2563531660
SouthPoint Bank Home Mortgage
1314 6th Ave SE, Decatur, AL 35601
2563089722
Republic Finance
1241 Point Mallard Pkwy Suite 106, Decatur, AL 35601
2563502358
Renasant Mortgage
1830 Modaus Rd SW 2nd Fl, Decatur, AL 35603
2563554100
River Bank & Trust
254 Moulton St E, Decatur, AL 35601
2569577010
First Mortgage Group Inc
118 Moulton St E #7, Decatur, AL 35601
2563506376
Synovus Mortgage
801 Church St NE #9, Decatur, AL 35601
2562605700
Blake Robbins: Senior Loan Officer
801 Church St NE #9, Decatur, AL 35601
2566540018
Hard Money Lenders Decatur AL
303 2nd Ave SE, Decatur, AL 35601
9383333518
Home Mortgage of America
114 Moulton St E, Decatur, AL 35601
2562605700
What Does a Reverse Mortgage Specialist in Decatur Cost?
Typical costs for a reverse mortgage specialist in Alabama include an origination fee of up to 2 percent of the home value capped at 6000 dollars, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees for appraisal and title search ranging from 500 to 1500 dollars. Closing costs usually total between 3000 and 8000 dollars. These costs can be financed 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 is a reverse mortgage specialist in Decatur Alabama?
A reverse mortgage specialist is a licensed professional who guides homeowners through the process of obtaining a Home Equity Conversion Mortgage HECM. They explain eligibility, costs, and repayment terms specific to Alabama regulations.
What are the eligibility requirements for a reverse mortgage in Decatur?
You must be at least 62 years old, own your home outright or have a low mortgage balance, and live in the property as your primary residence. Alabama requires a mandatory HUD counseling session to ensure you understand the loan.
How does Alabama law affect reverse mortgage terms?
Alabama follows federal HECM guidelines but also requires lenders to disclose all fees in writing. The state does not impose a waiting period after counseling, but the loan cannot close until three business days after you receive the final disclosure.