Reverse mortgage specialists in Stroudsburg Pennsylvania help homeowners aged 62 and older convert part of their home equity into tax-free funds without selling their home. Pennsylvania law requires borrowers to complete a counseling session with a HUD-approved counselor before applying for a Home Equity Conversion Mortgage HECM. Local specialists guide clients through the process including loan terms repayment obligations and the impact on heirs and estate planning.
What Does a Reverse Mortgage Specialist in Stroudsburg Cost?
Typical costs for a reverse mortgage in Pennsylvania include an origination fee of up to 2 percent of the first 200000 of home value plus 1 percent of the amount above 200000. Third-party fees such as appraisal title insurance and recording fees usually range from 2000 to 5000. HUD counseling fees are capped at 125 but many agencies offer free or reduced-cost sessions. These costs are often financed into the loan rather than paid out of pocket. 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.