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 New Mexico before hiring.
Showing 7 reverse mortgage specialists in Artesia, NM
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
World Finance
318 W Main St, Artesia, NM 88210
5757462198
First American Bank
303 W Main St, Artesia, NM 88210
5757468000
Century 21 Black Gold
211 W Main St, Artesia, NM 88210
5757360021
Martin Sanchez | Loan Officer | PRMI
509 W Mahone Dr, Artesia, NM 88210
5757496278
Primary Residential Mortgage, Inc. - Artesia
509 W Mahone Dr suite a, Artesia, NM 88210
5757625363
Access Wealth Strategies, LLC
212 W Main St Suite B, Artesia, NM 88210
5757469897
Prime Source Mortgage Inc
512 W Texas Ave STE A, Artesia, NM 88210
5757460011
What Does a Reverse Mortgage Specialist in Artesia Cost?
Typical costs for a reverse mortgage specialist in New Mexico include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees such as appraisal and title search, which can range from 500 to 1500 dollars. Total closing costs often range from 5,000 to 10,000 dollars, but these may be financed into the loan. 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 do in Artesia?
A reverse mortgage specialist helps homeowners understand loan options, complete the application, and coordinate with HUD-approved counselors. They also explain how New Mexico law protects borrowers, including the three-day right of rescission after closing.
Are there age requirements for a reverse mortgage in New Mexico?
Yes, all borrowers must be at least 62 years old. The home must be the primary residence, and the borrower must own the home outright or have a low mortgage balance that can be paid off with loan proceeds.