A reverse mortgage specialist in Florence Arizona helps senior homeowners access home equity through a Home Equity Conversion Mortgage (HECM). Arizona law requires borrowers to complete a counseling session with a HUD-approved counselor before applying. Specialists in Florence can explain how Arizona property tax deferral programs may interact with reverse mortgage proceeds.
What Does a Reverse Mortgage Specialist in Florence Cost?
Typical costs for a reverse mortgage in Arizona include an origination fee of up to 2 percent of the first 200,000 dollars of home value plus 1 percent of the amount over 200,000 dollars. Third-party fees such as appraisal, title insurance, and recording fees range from 2,500 to 5,000 dollars. Mortgage insurance premiums are 2 percent of the appraised value upfront plus 0.5 percent annually. These costs are 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.
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Reverse Mortgage Specialists in Other Arizona Cities
Apache Junction · Avondale · Buckeye · Bullhead City · Casa Grande · Cave Creek · Chandler · Cottonwood · Flagstaff · Fountain Hills · Gilbert · Glendale · Goodyear · Kingman · Lake Havasu City