Find Reverse Mortgage Specialists in Kettering, OH
Compare reverse mortgage specialists in Kettering. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of Ohio before hiring.
Showing 3 reverse mortgage specialists in Kettering, OH
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Reverse mortgage specialists in Kettering Ohio help older homeowners access home equity without monthly payments. Ohio law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage. Local specialists guide clients through this process and explain how reverse mortgages affect property taxes and estate planning in Montgomery County.
What Does a Reverse Mortgage Specialist in Kettering Cost?
Typical costs for a reverse mortgage specialist in Ohio include origination fees up to 2 percent of the home value an appraisal fee of 400 to 600 dollars and closing costs of 2,000 to 4,000 dollars. Monthly servicing fees may also apply. Costs vary by loan amount and lender. 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 Kettering Ohio?
All borrowers must be at least 62 years old. Ohio law does not change this federal requirement. The home must be the borrower primary residence and meet FHA property standards.
Do reverse mortgage specialists in Kettering offer free initial consultations?
Many specialists offer a free initial consultation to discuss eligibility and loan options. During this meeting they explain Ohio counseling requirements and provide a cost estimate. Always confirm fees before scheduling.
How does a reverse mortgage affect my heirs in Ohio?
Heirs can either pay off the loan balance or sell the home to satisfy the debt. Ohio law gives heirs 30 days after the borrower death to decide. If the home is sold for less than the loan amount FHA insurance covers the difference.