Compare Reverse Mortgage Specialists in Media, PA
Browse reverse mortgage specialists serving Media, Pennsylvania. Contact information and addresses listed below.
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 9 reverse mortgage specialists in Media, 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.
A reverse mortgage specialist in Media Pennsylvania helps homeowners aged 62 and older convert home equity into tax-free funds. Pennsylvania law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage. Specialists guide clients through eligibility rules and repayment options specific to Pennsylvania property laws.
What Does a Reverse Mortgage Specialist in Media Cost?
Typical costs for a reverse mortgage in Pennsylvania include an origination fee up to 2 percent of the home value a mortgage insurance premium of 2 percent upfront plus 0.5 percent annually and third-party fees for appraisal title and recording. These fees range from 2000 to 8000 depending on the home value and loan type. Costs vary by case. 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 Media Pennsylvania?
Borrowers must be at least 62 years old. If married the younger spouse must also be 62 to be listed on the loan. Pennsylvania law does not change this federal requirement.
Do I need counseling before getting a reverse mortgage in Pennsylvania?
Yes Pennsylvania requires all borrowers to complete a counseling session with a HUD-approved agency before applying. The session covers loan terms costs and alternatives. This is a federal rule enforced by Pennsylvania regulators.
Can I lose my home with a reverse mortgage in Media?
You can lose your home if you fail to pay property taxes homeowners insurance or maintain the property. Pennsylvania law allows lenders to start foreclosure if these obligations are not met. The loan becomes due when you move out or sell the home.