Reverse Mortgage Specialists in St Simons Island, GA
Compare reverse mortgage specialists in St Simons Island. Review contact information and insurance categorys before you decide.
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 Georgia before hiring.
Showing 15 reverse mortgage specialists in St Simons Island, GA
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What Does a Reverse Mortgage Specialist in St Simons Island Cost?
Typical costs for a reverse mortgage in Georgia include an origination fee of up to 2 percent of the home value capped at 6000 dollars. Third party costs such as appraisal title search and recording fees range from 1000 to 3000 dollars. The upfront mortgage insurance premium is 2 percent of the appraised value. Annual mortgage insurance costs 0.5 percent of the loan balance. These costs vary by case and lender. 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 St Simons Island Georgia?
Borrowers must be at least 62 years old. All homeowners listed on the title must meet this age requirement. Georgia law does not add any additional age restrictions beyond the federal HUD rule.
Do I need counseling before getting a reverse mortgage in Georgia?
Yes federal law requires HUD approved counseling for all reverse mortgage borrowers. Georgia does not have a separate state counseling requirement. The session covers loan costs payment options and alternatives.
What property types qualify for a reverse mortgage on St Simons Island?
Qualifying properties include single family homes HUD approved condominiums and manufactured homes that meet FHA standards. The property must be the borrowers primary residence. Second homes and investment properties do not qualify.