Find Reverse Mortgage Specialists Near You in Queen Creek, AZ
Compare reverse mortgage specialists in Queen Creek. Review contact information and insurance categorys before you decide.
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
State Mortgage Licensing Authority of Arizona before hiring.
Showing 10 reverse mortgage specialists in Queen Creek, AZ
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What Does a Reverse Mortgage Specialist in Queen Creek Cost?
Typical costs for a reverse mortgage specialist in Arizona include an origination fee up to 2 percent of the home value capped at 6000 dollars. Other costs include a mortgage insurance premium of 2 percent of the appraised value upfront plus annual premiums. Appraisal fees range from 400 to 700 dollars and counseling fees are usually 125 to 150 dollars. Title insurance recording fees and closing costs add 1500 to 3000 dollars. 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 are the age and property requirements for a reverse mortgage in Queen Creek Arizona?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The property must be the primary residence and can be a single-family home HUD-approved condo or manufactured home that meets FHA standards.
Do I need to complete counseling before getting a reverse mortgage in Arizona?
Yes Arizona law requires all reverse mortgage applicants to attend a counseling session with a HUD-approved counselor. This session covers loan terms costs and alternatives. The counselor must be independent from the lender.
What happens to the loan when I move out of my Queen Creek home?
If you permanently move out sell the home or pass away the loan becomes due and payable. Arizona law gives heirs up to 12 months to repay the loan or sell the property. The loan amount cannot exceed the home value at that time.