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 Ohio before hiring.
Showing 3 reverse mortgage specialists in Pepper Pike, 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.
Golden Reserve
29425 Chagrin Blvd Suite 250, Pepper Pike, OH 44124
2168232613
Merrill Lynch Wealth Management
30195 Chagrin Blvd, Pepper Pike, OH 44124
2162928000
The Land Financial Group - Ameriprise Financial Services, LLC
30100 Chagrin Blvd Ste 180, Pepper Pike, OH 44124
2164643900
What Does a Reverse Mortgage Specialist in Pepper Pike Cost?
Typical costs for a reverse mortgage in Ohio include an origination fee up to $6,000, a mortgage insurance premium of 2% of the home value, and third-party fees such as appraisal and title search. Total closing costs often range from $8,000 to $15,000. These costs can be financed into the loan. 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 Pepper Pike Ohio?
Borrowers must be at least 62 years old and own a primary residence in Pepper Pike. The home must be a single-family home, a 2-4 unit property with one unit occupied by the borrower, an FHA-approved condo, or a manufactured home. The property must meet FHA minimum property standards.
Is counseling required for a reverse mortgage in Ohio?
Yes, Ohio law and federal HUD rules require all reverse mortgage applicants to complete a counseling session with a HUD-approved counselor. The session covers loan costs, payment options, and alternatives. The counselor must be independent from the lender and the specialist.
How does a reverse mortgage affect my Pepper Pike property taxes or estate?
The borrower must continue to pay property taxes and homeowners insurance. The loan becomes due when the last borrower dies, sells the home, or moves out permanently. Heirs can repay the loan or sell the home to settle the debt. Any remaining equity goes to the estate.