Find Reverse Mortgage Specialists Near You in Palmdale, CA
Browse reverse mortgage specialists serving Palmdale, California. 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 California before hiring.
Showing 18 reverse mortgage specialists in Palmdale, CA
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 Palmdale Cost?
Typical costs for a reverse mortgage specialist in California include an origination fee of up to 2 percent of the first 200,000 dollars of the home value plus 1 percent of the amount above that. Third-party fees such as appraisal title insurance and recording fees range from 2,500 to 5,000 dollars. Counseling fees are capped at 125 dollars in California. 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 qualifications does a reverse mortgage specialist in Palmdale need?
In California a reverse mortgage specialist must hold a valid mortgage loan originator license through the Nationwide Multistate Licensing System. They should also have specific training on HECM products and California disclosure requirements.
How does California law affect reverse mortgage terms in Palmdale?
California Civil Code Section 1923 requires a 30-day right of rescission for reverse mortgages after closing. Lenders must also provide a detailed cost comparison and disclose that the loan becomes due when the last borrower leaves the home.
What are the age and property requirements for a reverse mortgage in Palmdale?
Borrowers must be at least 62 years old. The property must be the primary residence and can be a single-family home, a 2-4 unit property with one unit occupied by the borrower, or a FHA-approved condominium.