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 Pennsylvania before hiring.
Showing 3 reverse mortgage specialists in Levittown, 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.
Gunnar Mortgage
1 Deep Dale Dr E, Levittown, PA 19056
2158708724
Matthew Fischman - Mortgage Advisor
8 Flamingo Rd, Levittown, PA 19056
9085000891
American Financial Network, Inc.
2021 Hartel Ave #100, Levittown, PA 19057
2154501633
What Does a Reverse Mortgage Specialist in Levittown Cost?
Typical costs for a reverse mortgage specialist in Pennsylvania include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third party fees like appraisal and title search. For a Levittown home valued at 300,000 dollars, total closing costs often range from 8,000 to 15,000 dollars. These costs are usually 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 requirements for a reverse mortgage in Levittown Pennsylvania?
You must be at least 62 years old and own your home outright or have a low mortgage balance. Pennsylvania law requires you to attend a counseling session with a HUD approved agency before you can apply. The home must be your primary residence.
How much money can I get from a reverse mortgage in Levittown?
The amount depends on your age, the value of your home, and current interest rates. In Levittown, typical home values in Bucks County can allow for loan amounts between 40 and 60 percent of the appraised value. A specialist can provide a personalized estimate.
Are reverse mortgage proceeds taxable in Pennsylvania?
No, reverse mortgage proceeds are not considered income by the IRS or the state of Pennsylvania. They are treated as a loan advance. However, you must still pay property taxes and homeowners insurance on your Levittown home.