Compare Reverse Mortgage Specialists in Santa Maria, CA
Directory of reverse mortgage specialists in Santa Maria, California. Verify credentials with the state state mortgage licensing authority before hiring.
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 14 reverse mortgage specialists in Santa Maria, 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 Santa Maria Cost?
Typical costs for a reverse mortgage specialist in California include an origination fee up to 6000 dollars or 2 percent of the home value whichever is less. Third-party costs such as appraisal title insurance and recording fees range from 2000 to 5000 dollars. The upfront mortgage insurance premium is 2 percent of the home value. These costs are often 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.
Frequently Asked Questions
What are the age requirements for a reverse mortgage in Santa Maria?
The borrower must be at least 62 years old. If there is a co-borrower that person must also be 62 or older. The home must be the primary residence.
Are there any income or credit score requirements for a reverse mortgage in California?
There is no minimum income requirement to qualify. However the lender will review your financial history to ensure you can pay property taxes homeowners insurance and maintenance costs. A credit check is part of the process.
Can I lose my home with a reverse mortgage in Santa Maria?
You can lose your home if you fail to pay property taxes or homeowners insurance or if you do not maintain the property. You must also live in the home as your primary residence. These are requirements under California and federal law.