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 3 reverse mortgage specialists in Richboro, 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.
First Rate Mortgage Group - David Beck
529 Glen Meadow Rd, Richboro, PA 18954
(215) 322-4121
firstratemortgagegroup.com
The Reverse Mortgage Team
51 Florence Dr, Richboro, PA 18954
(267) 352-4685
thereversemortgageteam.com
What Does a Reverse Mortgage Specialist in Richboro Cost?
Typical costs for a reverse mortgage in Pennsylvania include an origination fee up to $6,000, a mortgage insurance premium of 2 percent of the appraised value, and third-party costs like appraisal and title search. These fees total between $10,000 and $15,000 on average but vary by loan amount and lender. 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 is a reverse mortgage specialist in Richboro Pennsylvania?
A reverse mortgage specialist is a licensed professional who guides homeowners through the process of obtaining a Home Equity Conversion Mortgage or HECM. In Richboro they help clients understand Pennsylvania specific rules such as the requirement for mandatory counseling and the protection of non-borrowing spouses.
Do I need to live in Richboro to use a local reverse mortgage specialist?
No you can work with a specialist who serves Richboro even if you live in a nearby town. However the specialist must be licensed in Pennsylvania and familiar with local property values and closing procedures in Bucks County.
What are the age requirements for a reverse mortgage in Pennsylvania?
All borrowers must be at least 62 years old. Pennsylvania does not have additional age restrictions beyond the federal HECM requirement. The specialist will verify age and confirm that the property is the borrowers primary residence.