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Showing 2 reverse mortgage specialists in Fernley, NV
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Greater Nevada Mortgage
1510 E Newlands Dr, Fernley, NV 89408
8005266999
Elise Cortes - Mortgage Advisor at Stanford Mortgage, Fernley
330 E Main St, Fernley, NV 89408
7758156590
What Does a Reverse Mortgage Specialist in Fernley Cost?
Typical costs for a reverse mortgage specialist in Nevada include an origination fee of up to 6000 dollars on a 300000 dollar home plus appraisal fees around 500 dollars and counseling fees of 125 to 150 dollars. Closing costs such as title insurance and recording fees add 1000 to 3000 dollars. These 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 does a reverse mortgage specialist in Fernley do?
A reverse mortgage specialist guides you through the loan process including eligibility requirements and loan options. They explain how Nevada law affects the loan such as the mandatory counseling session. They do not provide financial advice but help with paperwork and lender coordination.
Are there age requirements for a reverse mortgage in Nevada?
Yes all borrowers must be at least 62 years old to qualify for a reverse mortgage. This is a federal requirement that applies in Fernley and throughout Nevada. The home must also be the borrowers primary residence.
What costs are involved with a reverse mortgage specialist in Nevada?
Typical costs include origination fees appraisal fees and third party charges. In Nevada origination fees are capped at 2 percent of the first 200000 dollars of home value plus 1 percent of the amount over 200000 dollars. These costs can be financed into the loan so you pay nothing upfront.