Reverse Mortgage Specialists in Ennis, TX
Looking for a reverse mortgage specialist in Ennis? 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 10 reverse mortgage specialists in Ennis, TX
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A reverse mortgage specialist in Ennis, Texas helps homeowners aged 62 and older convert home equity into cash. Texas law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage (HECM). Specialists guide clients through the unique Texas homestead protections and property tax deferral options available to seniors.
What Does a Reverse Mortgage Specialist in Ennis Cost?
Typical costs for a reverse mortgage in Texas 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 and recording. For a home valued at 250000 dollars total closing costs often range from 8000 to 12000 dollars. Costs vary by lender loan amount and property location. 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 Ennis Texas?
Borrowers must be at least 62 years old. All homeowners listed on the title must meet this age requirement. Texas law also requires that the home be the borrower's primary residence.
Do I need counseling to get a reverse mortgage in Texas?
Yes, Texas law and federal HUD rules require all borrowers to complete a counseling session with a HUD-approved agency. This session explains the loan terms, costs, and alternatives. The counselor will issue a certificate that is valid for 180 days.