Compare Reverse Mortgage Specialists in Sedona, AZ
Browse reverse mortgage specialists serving Sedona, Arizona. Contact information and addresses listed below.
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 Sedona, AZ
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
What Does a Reverse Mortgage Specialist in Sedona Cost?
Typical costs for a reverse mortgage in Arizona include an origination fee up to 2 percent of the homes value capped at 6,000 and a mortgage insurance premium of 2 percent of the appraised value. Third party costs like appraisal title and recording fees range from 500 to 2,500. Closing costs for a 400,000 home often total 8,000 to 12,000. These costs are usually 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 are the eligibility requirements for a reverse mortgage in Sedona 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 be a single family home HUD approved condo or manufactured home. Arizona law does not impose additional age or property restrictions beyond federal HUD rules.
How much can I borrow with a reverse mortgage in Sedona?
The amount depends on the youngest borrowers age current interest rates and the homes appraised value up to the HECM lending limit of 1,089,300 in 2024. Higher home values in Sedona may allow for larger loan proceeds. You can receive funds as a lump sum monthly payments line of credit or a combination.
Are reverse mortgage proceeds taxable in Arizona?
No reverse mortgage proceeds are considered loan advances not income so they are not subject to Arizona state income tax. However interest on the loan is not tax deductible until the loan is repaid. Consult a tax professional for your specific situation.