Compare Reverse Mortgage Specialists in Addison, TX
Looking for a reverse mortgage specialist in Addison? 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 Texas before hiring.
Showing 7 reverse mortgage specialists in Addison, TX
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
A reverse mortgage specialist in Addison Texas helps homeowners aged 62 and older access home equity without monthly payments. Texas law requires borrowers to complete HUD-approved counseling before applying. Specialists in Addison guide clients through the Texas-specific regulations and loan options available in Dallas County.
What Does a Reverse Mortgage Specialist in Addison Cost?
Typical costs for a reverse mortgage specialist in Texas 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. Closing costs usually range from 2000 to 5000 dollars. Appraisal fees in Addison average 400 to 600 dollars. Costs vary by loan type 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 are the age requirements for a reverse mortgage in Texas?
Borrowers must be at least 62 years old. All homeowners listed on the title must meet this age requirement under federal HECM rules.
Do I need counseling before getting a reverse mortgage in Addison?
Yes. Texas law requires all borrowers to attend a counseling session with a HUD-approved counselor. This session must happen before you can submit a loan application.
Can I lose my home with a reverse mortgage in Texas?
You can lose your home if you fail to pay property taxes or homeowners insurance. Texas law also requires you to maintain the property. A specialist can explain all obligations clearly.