Find Reverse Mortgage Specialists in San Juan, TX
Browse reverse mortgage specialists serving San Juan, Texas. Contact information and addresses listed below.
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 4 reverse mortgage specialists in San Juan, TX
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A reverse mortgage specialist in San Juan, Texas can help homeowners aged 62 and older access their home equity. Texas law requires borrowers to complete a counseling session with a HUD-approved counselor before applying. This service is available for primary residences in Hidalgo County and surrounding areas.
What Does a Reverse Mortgage Specialist in San Juan Cost?
Typical costs for a reverse mortgage in Texas include an origination fee of up to $6,000, a mortgage insurance premium of 2% of the home value, and appraisal fees of $400 to $800. Closing costs generally range from $2,000 to $5,000. Texas law requires a mandatory counseling session that costs around $125 to $150. 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 San Juan Texas?
You must be at least 62 years old to qualify for a reverse mortgage in Texas. All borrowers listed on the title must meet this age requirement. The home must be your primary residence.
What property types qualify for a reverse mortgage in San Juan Texas?
Single-family homes, HUD-approved condominiums, and manufactured homes that meet FHA standards qualify. The property must be in good condition and located in San Juan or Hidalgo County. Texas law does not allow reverse mortgages on rental properties or second homes.
How much can I borrow with a reverse mortgage in San Juan Texas?
The amount depends on your age, the appraised value of your home, and current interest rates. In Texas, the maximum claim amount for an FHA reverse mortgage is $1,089,300 as of 2024. Younger borrowers typically qualify for less equity.