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 Monroeville, 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.
Loan Web USA
4334 Old William Penn Hwy, Monroeville, PA 15146
4123731123
Lendmark Financial Services LLC
2669 Monroeville Blvd, Monroeville, PA 15146
4125683807
Toni Shorthouse
Monroeville Banking/Wealth Center, 4210 William Penn Hwy, Monroeville, PA 15146
4127809751
What Does a Reverse Mortgage Specialist in Monroeville 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 such as appraisal and title search. These costs can range from 3,000 to 8,000 dollars depending on the home value and loan type. 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 is a reverse mortgage specialist in Monroeville?
A reverse mortgage specialist is a professional who guides seniors through the process of obtaining a reverse mortgage. They explain eligibility, loan terms, and help with required counseling. In Pennsylvania, the specialist must follow federal HECM rules and state regulations.
What are the eligibility requirements for a reverse mortgage in Pennsylvania?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The home must be the primary residence. Pennsylvania law does not add extra age requirements beyond the federal minimum.
How does Pennsylvania law affect reverse mortgage counseling?
Pennsylvania requires all reverse mortgage applicants to receive counseling from a HUD approved agency. The counseling must occur before the loan application is submitted. This rule helps protect seniors by ensuring they understand the loan terms and costs.