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Showing 4 reverse mortgage specialists in Wailuku, HI
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Kara Beltran - SecurityNational Mortgage Company Loan Officer
1955 Main St #301, Wailuku, HI 96793
(808) 283-1640
mortgage.snmc.com
What Does a Reverse Mortgage Specialist in Wailuku Cost?
Typical costs for a reverse mortgage in Hawaii include an origination fee of up to six thousand dollars a mortgage insurance premium of two percent of the appraised value and third-party costs like appraisal title and recording fees totaling three to five thousand dollars. Total closing costs often range from eight thousand to fifteen thousand dollars but vary by loan size and property. 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 qualifications should a reverse mortgage specialist in Wailuku have?
A qualified specialist should be licensed in Hawaii and have experience with FHA-insured Home Equity Conversion Mortgages. They must follow Hawaii disclosure rules and work with HUD-approved counselors. Ask about their familiarity with Maui County property types.
Are there Hawaii-specific rules for reverse mortgages?
Yes. Hawaii requires a three-day right of rescission after closing. Borrowers must complete counseling with a HUD-approved agency. The loan must be repaid when the last borrower dies sells or moves out permanently.
How do Wailuku property values affect reverse mortgage amounts?
Reverse mortgage limits are based on the younger borrowers age current interest rates and the appraised value of the home. In Wailuku where median home values are high the loan amount may approach the FHA ceiling of one million ninety-eight thousand dollars for 2024.