Find Reverse Mortgage Specialists Near You in West Palm Beach, FL
Directory of reverse mortgage specialists in West Palm Beach, Florida. 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 Florida before hiring.
Showing 16 reverse mortgage specialists in West Palm Beach, FL
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 West Palm Beach Cost?
Typical costs for a reverse mortgage in West Palm Beach include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees such as appraisal and title search which can range from 500 to 1500 dollars. Closing costs generally total 3000 to 8000 dollars depending on the loan amount and property value. This is general information and 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 West Palm Beach?
Borrowers must be at least 62 years old. If married, the younger spouse must also be 62 to be listed as a borrower. Non-borrowing spouses have certain protections under Florida law but do not receive loan proceeds.
Do I need to own my home free and clear to get a reverse mortgage in Florida?
No. You can have an existing mortgage, but the reverse mortgage proceeds must pay off that loan first. Florida law does not require full ownership, but you must have enough equity to cover existing debts and closing costs.
How does Florida law affect reverse mortgage proceeds and taxes?
In Florida, reverse mortgage proceeds are not considered income for state tax purposes. They do not affect Social Security or Medicare benefits. However, you must continue paying property taxes and homeowners insurance to avoid default.