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Showing 2 reverse mortgage specialists in Drexel Hill, PA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Drexel Hill Mortgage, Inc
637 Mason Ave, Drexel Hill, PA 19026
8885564579
Drexel Hill Mortgage, Inc
3017 Garrett Rd, Drexel Hill, PA 19026
6107570031
What Does a Reverse Mortgage Specialist in Drexel Hill Cost?
Typical costs for a reverse mortgage specialist in Pennsylvania include an origination fee of up to 2 percent of the home value and a mortgage insurance premium of 2 percent of the appraised value. Closing costs usually range from 2,000 to 5,000 dollars. Third party fees for appraisal and title search add 500 to 1,500 dollars. Costs vary by loan type and lender. 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 is a reverse mortgage specialist in Drexel Hill?
A reverse mortgage specialist is a professional who helps seniors in Drexel Hill understand and apply for reverse mortgages. They explain loan terms, costs, and how the loan works with Pennsylvania law including homestead exemptions.
Do I need counseling before getting a reverse mortgage in Pennsylvania?
Yes Pennsylvania law requires all borrowers to attend a counseling session with a HUD approved counselor. The specialist can provide a list of approved counselors in the Drexel Hill area.
Can a reverse mortgage affect my Pennsylvania property taxes?
Yes a reverse mortgage does not change your property tax obligations. However Pennsylvania offers a property tax rent rebate program for eligible seniors. A specialist can explain how the loan interacts with local tax relief programs.