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Showing 2 reverse mortgage specialists in Dunedin, FL
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Mortgages By Sean McManamon - Mortgage Loan Consultant
2323 Curlew Rd, Dunedin, FL 34698
7276395968
Mortgage Pro - Mary King
1980 Summit Dr, Dunedin, FL 34698
7276470769
What Does a Reverse Mortgage Specialist in Dunedin Cost?
Typical costs for a reverse mortgage in Florida include an origination fee up to 2 percent of the first 200000 of home value plus 1 percent of the amount above 200000. Upfront mortgage insurance premium is 2 percent of the appraised value. Third-party costs like appraisal title and recording fees range from 2000 to 5000. Annual mortgage insurance is 0.5 percent of the loan balance. 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 Dunedin Florida?
Borrowers must be at least 62 years old. If there is a co-borrower who is under 62 that person cannot be on the loan title. Florida law follows federal HUD guidelines for age eligibility.
Do I need to own my home free and clear to get a reverse mortgage in Florida?
No you do not need to own the home free and clear. You can use a reverse mortgage to pay off an existing mortgage. The remaining equity after paying off the old loan becomes available to you.
What counseling is required before getting a reverse mortgage in Florida?
Florida law requires a counseling session with a HUD-approved counselor. The session covers loan costs payment options and alternatives. The counselor must be independent from the lender.