Compare Reverse Mortgage Specialists in New Braunfels, TX
Directory of reverse mortgage specialists in New Braunfels, 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 19 reverse mortgage specialists in New Braunfels, 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 New Braunfels Texas helps homeowners aged 62 and older convert home equity into loan proceeds. Texas law requires that borrowers receive independent counseling from a HUD-approved agency before obtaining a reverse mortgage. This type of loan can provide tax-free income while allowing you to stay in your home.
What Does a Reverse Mortgage Specialist in New Braunfels Cost?
Typical costs for a reverse mortgage in Texas include an origination fee up to 2 percent of the home value or 6000 dollars whichever is less. Other fees include appraisal 400 to 600 dollars title insurance 1500 to 3000 dollars and HUD counseling 125 to 150 dollars. Total closing costs often range from 5000 to 10000 dollars. 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 qualifications should a reverse mortgage specialist have in Texas?
A specialist should be licensed by the Texas Department of Savings and Mortgage Lending. They must also complete annual continuing education on reverse mortgage products and Texas specific regulations.
Are there Texas specific laws for reverse mortgages?
Yes. Texas law requires a mandatory three day rescission period after closing. Borrowers must also attend a counseling session with a HUD approved agency before the loan can proceed.
How does a reverse mortgage affect my heirs in New Braunfels?
Heirs can choose to pay off the loan balance or sell the home to satisfy the debt. Texas law gives heirs up to 12 months after the borrower dies to decide. If the home is sold for less than the loan amount the difference is covered by FHA insurance.