Find Reverse Mortgage Specialists in Cupertino, CA
Compare reverse mortgage specialists in Cupertino. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of California before hiring.
Showing 13 reverse mortgage specialists in Cupertino, CA
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What Does a Reverse Mortgage Specialist in Cupertino Cost?
Typical costs for a reverse mortgage specialist in California include an origination fee of up to 2 percent of the first 200000 of home value plus 1 percent of the amount over 200000. Appraisal fees range from 400 to 800 and third party closing costs can be 1500 to 3000. HUD counseling fees are usually 125 to 250. These costs vary by lender and property value. 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 does a reverse mortgage specialist in Cupertino do?
A reverse mortgage specialist in Cupertino guides homeowners through the process of converting home equity into loan proceeds. They explain eligibility requirements loan types and repayment terms. Specialists also coordinate with HUD approved counselors as required by California law.
Are there age requirements for a reverse mortgage in California?
Yes all borrowers must be at least 62 years old to qualify for a reverse mortgage in California. The home must be the borrowers primary residence. California law also mandates a three day right of rescission after closing.
What costs are associated with a reverse mortgage in Cupertino?
Costs for a reverse mortgage in Cupertino include an origination fee up to 2 percent of the home value appraisal fees and mortgage insurance premiums. Closing costs typically range from 2000 to 5000. Borrowers pay these costs from loan proceeds or out of pocket.