Reverse Mortgage Specialists in Southaven, MS
Browse reverse mortgage specialists serving Southaven, Mississippi. Contact information and addresses listed below.
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 14 reverse mortgage specialists in Southaven, 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 Southaven Cost?
Typical costs for a reverse mortgage in Mississippi include an origination fee up to 2 percent of the home value or a maximum of 6000 dollars. Upfront mortgage insurance premium is 2 percent of the appraised value. Third-party costs such as appraisal title search and recording fees range from 500 to 2000 dollars. Annual mortgage insurance premiums are 0.5 percent of the loan balance. Costs vary by case 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 Southaven Mississippi?
Borrowers must be at least 62 years old. The youngest borrower on the title must meet this age requirement. Spouses under 62 may have limited protections under current HUD rules.
Do I need counseling before getting a reverse mortgage in Mississippi?
Yes. Mississippi law and HUD require all borrowers to complete a counseling session with a HUD-approved counselor. The session covers loan terms costs and alternatives. You must receive a certificate of completion before the loan can close.
What property types qualify for a reverse mortgage in Southaven?
Eligible properties include single-family homes HUD-approved condominiums and manufactured homes that meet FHA standards. The property must be your primary residence. Two-to-four unit properties may qualify if you occupy one unit.