Compare Reverse Mortgage Specialists in Greenwich, CT
Looking for a reverse mortgage specialist in Greenwich? Review the directory below to compare your options.
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 12 reverse mortgage specialists in Greenwich, CT
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 Greenwich Cost?
Reverse mortgage costs in Connecticut include an origination fee capped at 2 percent of the first 200000 dollars of home value plus 1 percent of the amount above 200000. The upfront mortgage insurance premium is 2 percent of the appraised value and annual premiums are 0.5 percent. Third party costs such as appraisal title search and recording fees typically range from 2000 to 5000 dollars. These costs are usually added to the loan balance so no upfront cash is required. 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 should a reverse mortgage specialist in Greenwich have?
Look for a specialist who holds a state mortgage loan originator license and has completed the required federal reverse mortgage training. They should also be familiar with Connecticut specific rules such as the mandatory counseling requirement and the 10 day rescission period after closing.
Are there Connecticut laws that affect reverse mortgages differently?
Yes Connecticut requires a mandatory counseling session with a HUD approved counselor before you can apply. The state also mandates a 10 day right of rescission after closing giving you time to change your mind. Connecticut does not allow reverse mortgages on cooperative housing units.
What costs are involved with a reverse mortgage in Greenwich Connecticut?
Typical costs include an origination fee up to 2 percent of the home value a mortgage insurance premium of 2 percent of the appraised value upfront plus annual premiums and third party costs like appraisal and title search. In Connecticut these fees are often financed into the loan so you pay no out of pocket costs at closing.