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 Texas before hiring.
Showing 3 reverse mortgage specialists in Live Oak, 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.
April Brock / Life Changing Lender
7529 N Loop 1604 E #112, Live Oak, TX 78233
2102644427
Lendmark Financial Services LLC
8308 Pat Booker Rd Suite 8336, Live Oak, TX 78233
2102495866
RBFCU Investments Group - Ameriprise Financial Services, LLC
1 IKEA-RBFCU Pkwy, Live Oak, TX 78233
8882940202
What Does a Reverse Mortgage Specialist in Live Oak Cost?
Typical costs for a reverse mortgage in Texas include an origination fee (up to $6,000), a mortgage insurance premium (2% of the appraised value upfront plus 0.5% annually), appraisal fees ($400 to $800), and closing costs ($2,000 to $5,000). Total upfront costs usually range from 2% to 5% of the home value. These costs can be rolled 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 eligibility requirements for a reverse mortgage in Live Oak Texas?
You must be at least 62 years old, own your home outright or have a low mortgage balance, and live in the property as your primary residence. Texas law also requires you to attend a counseling session with a HUD-approved counselor before you can apply.
How does Texas homestead law affect a reverse mortgage in Live Oak?
Texas homestead protections limit the amount of equity you can access. For a HECM loan, the maximum claim amount is the appraised value of the home or the FHA lending limit, whichever is lower. Your home remains protected from most creditors as long as you meet loan obligations.
Can I lose my home with a reverse mortgage in Live Oak Texas?
Yes, if you fail to pay property taxes, homeowners insurance, or maintain the home. You must also continue to live in the home as your primary residence. Texas law requires lenders to provide clear disclosures about these conditions.