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 7 reverse mortgage specialists in Richardson, 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.
Starlink Mortgage LLC
2011 N Collins Blvd #605, Richardson, TX 75080
6827720377
Mortgage and Beyond
1900 Jay Ell Dr, Richardson, TX 75081
2142962284
Mercantile Mortgage Corporation
1401 N Central Expy # 100B, Richardson, TX 75080
9726619988
NRL Mortgage- Richardson
1301 W President George Bush Hwy Suite 300, Richardson, TX 75080
8554396634
AMSW Lending
1801 N Glenville Dr #100, Richardson, TX 75081
2146731295
3D Mortgage Solutions
1144 N Plano Rd #133, Richardson, TX 75081
4696499988
Lower Mortgage
1801 N Glenville Dr #100, Richardson, TX 75081
4692356664
What Does a Reverse Mortgage Specialist in Richardson Cost?
Typical costs for a reverse mortgage in Texas include an origination fee of up to 2 percent of the loan amount, a mortgage insurance premium of 2 percent of the home value, and third-party fees for appraisal, title search, and recording. These fees can range from 2000 to 8000 dollars depending on the property value and loan size. Costs vary by situation and lender. 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 is a reverse mortgage and how does it work in Texas?
A reverse mortgage allows homeowners 62 or older to borrow against home equity without monthly payments. In Texas, the loan must be repaid when the last borrower moves out, sells the home, or passes away. The borrower still owns the home and must pay property taxes and insurance.
Are there specific Texas laws for reverse mortgages?
Yes, Texas law requires a mandatory counseling session with a HUD-approved counselor before you can apply. The state also limits the loan amount to the appraised value of the home. Additionally, Texas has a three-day right of rescission after closing.
How do I choose a reverse mortgage specialist in Richardson?
Look for a specialist who is licensed in Texas and has experience with HECM loans. Ask about their knowledge of Richardson real estate trends and local closing procedures. Verify their credentials with the Texas Department of Savings and Mortgage Lending.