Compare Reverse Mortgage Specialists in Kilgore, TX
Looking for a reverse mortgage specialist in Kilgore? 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 5 reverse mortgage specialists in Kilgore, TX
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A reverse mortgage specialist in Kilgore, Texas helps homeowners aged 62 and older convert home equity into tax-free funds. Texas law requires mandatory counseling from a HUD-approved agency before you can apply. Specialists guide you through the specific rules under the Texas Constitution for reverse mortgages.
What Does a Reverse Mortgage Specialist in Kilgore 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 upfront plus 0.5 percent annually, and third-party fees like appraisal and title search ranging from 500 to 1500 dollars. Total closing costs usually range from 5000 to 12000 dollars. These costs can be financed into the loan. 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 Kilgore Texas?
You must be at least 62 years old. All borrowers listed on the title must meet this age requirement. Texas law does not allow exceptions for younger spouses.
Do I need counseling before getting a reverse mortgage in Texas?
Yes, Texas law requires you to complete a counseling session with a HUD-approved counselor. This session must happen before you submit your application. The counselor explains the loan terms, costs, and alternatives.