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 California before hiring.
Showing 3 reverse mortgage specialists in Santa Monica, 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.
Reverse Your Thinking® Mortgage
1620 Broadway, Santa Monica, CA 90404
3104475266
Mutual of Omaha Reverse Mortgage - Brad Dela Cruz
1622 A Wilshire Blvd, Santa Monica, CA 90403
3109207610
Mortgage Broker Santa Monica
1450 2nd St #363, Santa Monica, CA 90401
4243635543
What Does a Reverse Mortgage Specialist in Santa Monica 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 200,000 dollars, capped at 6,000 dollars. Third-party costs like appraisal, title insurance, and recording fees range from 2,500 to 5,000 dollars. The HUD counseling session costs about 125 to 250 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 qualifications does a reverse mortgage specialist in Santa Monica need?
A reverse mortgage specialist in Santa Monica must hold a valid California mortgage loan originator license and complete annual continuing education. They should also have specific training on HECM products and California reverse mortgage regulations.
How does California law affect reverse mortgages in Santa Monica?
California Civil Code Section 1923 requires a three-day right of rescission after loan signing. Borrowers must also attend a counseling session with a HUD-approved agency before the loan can proceed. These rules protect seniors from predatory lending.