Compare Reverse Mortgage Specialists in Enfield, CT
Directory of reverse mortgage specialists in Enfield, Connecticut. 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 Connecticut before hiring.
Showing 5 reverse mortgage specialists in Enfield, CT
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A reverse mortgage specialist in Enfield Connecticut can help homeowners aged 62 and older convert home equity into tax free funds. Under Connecticut law borrowers must complete HUD approved counseling before applying for a Home Equity Conversion Mortgage or HECM. Enfield residents should work with a specialist who understands local property values and Connecticut consumer protection rules.
What Does a Reverse Mortgage Specialist in Enfield Cost?
Typical costs for a reverse mortgage in Connecticut include an origination fee up to 6000 dollars a mortgage insurance premium of 2 percent of the home value and third party fees like appraisal title search and recording. Closing costs generally range from 3000 to 8000 dollars depending on the property value. These costs can be 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 age requirements for a reverse mortgage in Enfield Connecticut?
Borrowers must be at least 62 years old. For married couples both spouses must meet the age requirement if both are on the title. Connecticut law follows federal HECM guidelines for age eligibility.
Do I need to attend counseling before getting a reverse mortgage in Connecticut?
Yes Connecticut requires all borrowers to complete a counseling session with a HUD approved counselor. This session covers loan terms costs and alternatives. The counselor must be independent from the lender.
What happens to the loan when I move out of my Enfield home?
The loan becomes due when you permanently move out sell the home or pass away. Connecticut law gives heirs up to 12 months to repay the loan or sell the property. Heirs can also choose to deed the home to the lender.