Find Reverse Mortgage Specialists in Ocean Springs, MS
Directory of reverse mortgage specialists in Ocean Springs, Mississippi. 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 Mississippi before hiring.
Showing 10 reverse mortgage specialists in Ocean Springs, MS
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 Ocean Springs Cost?
Typical costs for a reverse mortgage in Mississippi include an origination fee up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third party fees for appraisal and title work. For a home valued at 200,000 dollars, total closing costs often range from 8,000 to 15,000 dollars. Costs vary by lender and loan type. 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 are the age requirements for a reverse mortgage in Ocean Springs Mississippi?
Borrowers must be at least 62 years old. The youngest spouse on the title must meet this age requirement under federal HUD guidelines. Mississippi does not have additional state age restrictions.
Do I need counseling before getting a reverse mortgage in Mississippi?
Yes, Mississippi law requires all borrowers to complete a counseling session with a HUD approved counselor. This session covers loan terms, costs, and alternatives. The counselor must be independent from the lender.
Can I lose my home in Ocean Springs with a reverse mortgage?
You can lose your home if you fail to pay property taxes, homeowners insurance, or maintain the property. Mississippi law allows lenders to foreclose if these obligations are not met. Borrowers must keep the home as their primary residence.