Find Reverse Mortgage Specialists in Dayton, OH
Directory of reverse mortgage specialists in Dayton, Ohio. 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 Ohio before hiring.
Showing 20 reverse mortgage specialists in Dayton, OH
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
A reverse mortgage specialist in Dayton, Ohio helps homeowners aged 62 and older convert home equity into loan proceeds. Ohio law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage (HECM). Dayton specialists guide clients through the FHA-insured process and explain how local property taxes and insurance rules apply.
What Does a Reverse Mortgage Specialist in Dayton Cost?
Typical costs for a reverse mortgage in Ohio include an origination fee of up to 2 percent of the home value (capped at 6 thousand dollars), a mortgage insurance premium of 2 percent of the appraised value, and third-party fees such as appraisal (400 to 800 dollars) and title search (500 to 1,000 dollars). Counseling fees range from 125 to 200 dollars. These costs are usually rolled into the loan balance. This is general information and 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 and property requirements for a reverse mortgage in Dayton Ohio?
Borrowers must be at least 62 years old. The property must be the primary residence and can be a single-family home, a FHA-approved condo, or a manufactured home that meets HUD standards. The home must also be in good condition as determined by an FHA appraisal.
Is counseling required before getting a reverse mortgage in Ohio?
Yes, Ohio law and federal HUD rules require all borrowers to complete a counseling session with a HUD-approved counselor. This session must occur before the loan application is submitted. The counselor explains loan terms, costs, and alternatives.
Can I lose my home with a reverse mortgage in Dayton?
You can lose your home if you fail to pay property taxes, maintain homeowners insurance, or keep the home in good repair. Ohio law does not provide special protections beyond standard HECM rules. The loan becomes due if you move out permanently or sell the home.