Reverse Mortgage Specialists in Murfreesboro, TN
Looking for a reverse mortgage specialist in Murfreesboro? Review the directory below to compare your options.
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 Tennessee before hiring.
Showing 19 reverse mortgage specialists in Murfreesboro, 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.
What Does a Reverse Mortgage Specialist in Murfreesboro 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 such as appraisal title and recording costs. For a home valued at 300000 total upfront costs might range from 8000 to 15000. Ongoing costs include an annual mortgage insurance premium of 0.5 percent of the loan balance and servicing fees. Costs vary by lender 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 are the age requirements for a reverse mortgage in Murfreesboro Tennessee?
Borrowers must be at least 62 years old. If the home is owned jointly both spouses must meet this age requirement unless one spouse is a non borrowing spouse under recent HUD rules.
Do I need to own my home free and clear to get a reverse mortgage in Tennessee?
No you do not need to own your home free and clear. However any existing mortgage or lien must be paid off with the reverse mortgage proceeds. Tennessee law does not impose additional lien restrictions beyond federal HUD guidelines.
What counseling is required before getting a reverse mortgage in Tennessee?
Tennessee requires all borrowers to complete a counseling session with a HUD approved counselor. This session must occur before you can submit a loan application. The counselor will explain the costs risks and alternatives.