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 Tennessee before hiring.
Showing 4 reverse mortgage specialists in Germantown, TN
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Myron Taylor - First Community Mortgage - NMLS ID 1171251
2277 West St, Germantown, TN 38138
9012085149
My Mortgage Company LLC
7540 North St, Germantown, TN 38138
8555626101
Andy Ellis - First Community Mortgage - NMLS ID 397708
2277 West St, Germantown, TN 38138
9013559283
First Community Mortgage - Germantown, TN
2277 West St, Germantown, TN 38138
8004648626
What Does a Reverse Mortgage Specialist in Germantown Cost?
Typical costs for a reverse mortgage in Tennessee 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 for appraisal title search and recording. For a home valued at 300000 total closing costs often range from 8000 to 15000. These costs can be financed into the loan so you do not pay them 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.
Frequently Asked Questions
What does a reverse mortgage specialist in Germantown do?
A reverse mortgage specialist explains loan options calculates available equity and helps you apply for a Home Equity Conversion Mortgage HECM. They coordinate with HUD-approved counselors and ensure compliance with Tennessee regulations. The specialist does not provide legal advice but can refer you to an attorney for estate planning.
Are there Tennessee-specific rules for reverse mortgages?
Tennessee does not have additional state laws beyond federal HECM rules. However Tennessee law requires that the loan proceeds be used to pay off any existing mortgage or liens first. Borrowers must also maintain the property and pay property taxes and homeowners insurance to avoid default.
How do I choose a reverse mortgage specialist in Germantown?
Look for a specialist who is licensed in Tennessee and has experience with HECM loans. Check their credentials with the National Reverse Mortgage Lenders Association NRMLA. Read client reviews and ask about their familiarity with Germantown property values and local closing procedures.