A reverse mortgage specialist in Stone Mountain Georgia helps homeowners aged 62 and older convert home equity into tax free funds. Georgia law requires borrowers to complete HUD approved counseling before applying for a Home Equity Conversion Mortgage. Stone Mountain residents can use these funds for home repairs medical expenses or supplementing retirement income.
What Does a Reverse Mortgage Specialist in Stone Mountain Cost?
Typical costs for a reverse mortgage specialist 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 2000 to 5000 dollars. The FHA mortgage insurance premium is 2 percent of the home value upfront plus an annual premium of 0.5 percent. These costs are usually financed into the loan. 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.
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Reverse Mortgage Specialists in Other Georgia Cities
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