Find Reverse Mortgage Specialists in Garland, TX
Directory of reverse mortgage specialists in Garland, Texas. Verify credentials with the state state mortgage licensing authority before hiring.
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 9 reverse mortgage specialists in Garland, 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 Garland Texas helps homeowners aged 62 and older access home equity without monthly payments. Texas law requires borrowers to complete a counseling session with a HUD-approved counselor before applying. Specialists guide clients through the Texas-specific rules, including the homestead exemption and non-recourse limits.
What Does a Reverse Mortgage Specialist in Garland Cost?
Typical costs for a reverse mortgage in Texas include an origination fee up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees like appraisal and title insurance. Total closing costs often range from 5,000 to 10,000 dollars. Costs vary by lender and loan amount. 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 Garland Texas?
Borrowers must be at least 62 years old. If married, the younger spouse must also be 62 to be listed on the loan. Texas law follows federal HUD guidelines for age eligibility.
Do I need to own my home free and clear to qualify in Garland?
No, you do not need to own your home free and clear. You must have significant equity. The loan pays off any existing mortgage first. Texas law requires the home to be your primary residence.
What counseling is required for a reverse mortgage in Texas?
Texas law requires a counseling session with a HUD-approved counselor. The session covers loan costs, repayment terms, and alternatives. You receive a certificate that must be submitted with your application.