Reverse Mortgage Specialists in Lihue, HI
Looking for a reverse mortgage specialist in Lihue? Review the directory below to compare your options.
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 Hawaii before hiring.
Showing 12 reverse mortgage specialists in Lihue, HI
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
A reverse mortgage specialist in Lihue can help homeowners aged 62 and older convert home equity into cash without selling their property. In Hawaii lenders must follow federal HUD guidelines and state laws including mandatory counseling by a HUD approved agency. Local specialists understand the unique real estate market on Kauai and can explain how property values and island living affect reverse mortgage terms.
What Does a Reverse Mortgage Specialist in Lihue Cost?
Typical costs for a reverse mortgage in Hawaii include an origination fee of up to 2 percent of the homes value a mortgage insurance premium of 2 percent of the appraised value and third party fees such as appraisal title and recording costs. For a home valued at 500000 total upfront costs might range from 12000 to 18000. Ongoing costs include servicing fees and interest which accrues over time. 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 eligibility requirements for a reverse mortgage in Lihue?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The home must be your primary residence and be a single family home or a HUD approved condo. In Hawaii you also need to complete a counseling session with a HUD approved counselor before applying.
How does a reverse mortgage work in Hawaii?
A reverse mortgage allows you to receive payments from your home equity while you continue to live in the home. The loan is repaid when you sell the home move out permanently or pass away. In Hawaii the loan amount depends on your age the homes appraised value and current interest rates.
Are reverse mortgage proceeds taxable in Hawaii?
No the money you receive from a reverse mortgage is considered a loan advance not income. Therefore it is not subject to federal or Hawaii state income tax. However you must still pay property taxes homeowners insurance and maintain the home.