Reverse Mortgage Specialists in Hockessin, DE
Browse reverse mortgage specialists serving Hockessin, Delaware. Contact information and addresses listed below.
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 Delaware before hiring.
Showing 5 reverse mortgage specialists in Hockessin, DE
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 Hockessin Cost?
Typical costs for a reverse mortgage in Delaware include an origination fee up to 2500 or 2 percent of the home value whichever is less. Third-party fees such as appraisal title insurance and recording fees usually range from 2000 to 5000. The upfront mortgage insurance premium is 2 percent of the home value and annual premiums are 0.5 percent of the loan balance. 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 Hockessin Delaware?
Borrowers must be at least 62 years old to qualify for a HECM reverse mortgage in Delaware. All owners listed on the title must meet this age requirement unless a non-borrowing spouse exception applies under HUD rules.
Do I need to attend counseling for a reverse mortgage in Delaware?
Yes Delaware law and federal HUD rules require all borrowers to complete a counseling session with a HUD-approved counselor before submitting a reverse mortgage application. Counseling covers loan terms costs and alternatives.
Are reverse mortgage proceeds taxable in Delaware?
Reverse mortgage proceeds are not considered income for federal or Delaware state tax purposes. However interest on the loan is not tax deductible until the loan is paid off in full.