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Compare Reverse Mortgage Specialists in Murphy, TX
Browse reverse mortgage specialists serving Murphy, Texas. Contact information and addresses listed below.
2 agents listed
Updated May 2026
Murphy, TX
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 2 reverse mortgage specialists in Murphy, 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.
Geneva Financal LLC
318 FM 544 bldg d ste 4, Murphy, TX 75094
2143957630
Bank of America Home Mortgage
Murphy, TX 75094
9725097030
A reverse mortgage specialist in Murphy Texas helps homeowners aged 62 and older convert part of their home equity into cash without selling their home. Texas law requires borrowers to complete a counseling session with a HUD-approved counselor before applying. This type of loan is known as a Home Equity Conversion Mortgage and is regulated by the Texas Constitution.
What Does a Reverse Mortgage Specialist in Murphy 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 for appraisal and title work. Total closing costs often range from 5,000 to 10,000 dollars depending on the home value and lender. These costs can be financed into the loan amount. 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 Murphy Texas?
Borrowers must be at least 62 years old. If there are two borrowers, both must meet this age requirement. Texas law also requires that the home be the primary residence.
Do I need to own my home free and clear to get a reverse mortgage in Texas?
No, you do not need to own your home free and clear. You can use a reverse mortgage to pay off an existing mortgage. The amount you can borrow depends on your age, the home value, and current interest rates.
What happens to the loan when I move out or pass away?
The loan becomes due when you permanently leave the home or pass away. Heirs can repay the loan by selling the home or using other funds. Texas law gives heirs a 30-day period to decide how to handle the loan.
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About Our Listings
Brokers listed on BeforeMortgageUSA.com are compiled from publicly available directories, state mortgage licensing authority records, and business listings. Inclusion does not constitute endorsement. We do not verify broker licensing, disciplinary status, or qualifications. Verify each broker's current standing with the Texas.