Find Reverse Mortgage Specialists in Horsham, PA
Directory of reverse mortgage specialists in Horsham, Pennsylvania. 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 Pennsylvania before hiring.
Showing 4 reverse mortgage specialists in Horsham, PA
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Reverse mortgage specialists in Horsham Pennsylvania help homeowners aged 62 and older convert part of their home equity into tax-free funds. Pennsylvania law requires borrowers to receive counseling from a HUD-approved agency before applying. Horsham residents can use these funds for home repairs, medical expenses, or daily living costs while retaining home ownership.
What Does a Reverse Mortgage Specialist in Horsham Cost?
Typical costs for a reverse mortgage in Pennsylvania include an origination fee of up to 2% of the home value, a mortgage insurance premium of 2% of the appraised value, and third-party fees like appraisal and title search. Total closing costs often range from 5,000 to 10,000 dollars. These costs can be financed into the loan so no upfront payment is required. 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 requirements for a reverse mortgage in Horsham Pennsylvania?
Borrowers must be at least 62 years old. If there are co-borrowers, all must meet this age requirement. The home must be the primary residence.
Are reverse mortgage proceeds taxable in Pennsylvania?
No, reverse mortgage proceeds are not considered income by Pennsylvania or federal tax authorities. They are loan advances and are tax-free. However, interest is not deductible until the loan is paid off.