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 Connecticut before hiring.
Showing 4 reverse mortgage specialists in Wallingford, 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.
Platinum Mortgage Solutions, Inc.
33 Fair St #101, Wallingford, CT 06492
2035894677
Allied Funding Group
130 N Main St, Wallingford, CT 06492
2032941409
The Cole Fleeher Mortgage Lending Team
100 Center St, Wallingford, CT 06492
8609429665
Province Mortgage Associates, Inc.
116 Center St, Wallingford, CT 06492
2035304361
What Does a Reverse Mortgage Specialist in Wallingford Cost?
Typical costs for a reverse mortgage in Connecticut include an origination fee of up to 2 percent of the home value capped at 6000 dollars a mortgage insurance premium of 2 percent of the appraised value and third party costs such as appraisal title and recording fees ranging from 2000 to 5000 dollars. Closing costs vary by lender and loan type. 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 is a reverse mortgage specialist in Wallingford?
A reverse mortgage specialist is a licensed professional who helps seniors understand and apply for reverse mortgages. In Connecticut they must follow state regulations including a mandatory counseling session with a HUD-approved agency.
Who qualifies for a reverse mortgage in Connecticut?
Borrowers must be at least 62 years old own their home outright or have a low mortgage balance and live in the property as their primary residence. Connecticut also requires proof of financial capacity to pay property taxes and insurance.
Are reverse mortgage proceeds taxable in Connecticut?
Reverse mortgage proceeds are not considered taxable income under Connecticut law. However the interest may be deductible when the loan is repaid. Consult a tax professional for your specific situation.