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Showing 2 reverse mortgage specialists in Paoli, 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.
Old Glory Mortgage Inc
10 Lancaster Ave, Paoli, PA 19301
6107220440
Excel Mortgage Corp.,USA
73 Chestnut Rd, Paoli, PA 19301
6106475454
What Does a Reverse Mortgage Specialist in Paoli 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. Third-party fees such as appraisal and title search range from 500 to 1500 dollars. Total closing costs often fall between 3000 and 8000 dollars but vary by loan amount and property. 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 Paoli Pennsylvania?
Borrowers must be at least 62 years old. If the home is owned jointly both spouses must meet the age requirement unless one spouse is a non-borrowing spouse protected under HUD rules.
Do I need to own my home free and clear to get a reverse mortgage in Paoli?
No you do not need to own the home free and clear. However any existing mortgage or lien must be paid off with the reverse mortgage proceeds. The amount you receive depends on your home value and the remaining equity.