Reverse Mortgage Specialists in Temple, TX
Directory of reverse mortgage specialists in Temple, 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 15 reverse mortgage specialists in Temple, 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 Temple Texas helps homeowners aged 62 and older convert part of their home equity into cash. Texas law requires mandatory counseling and a three-day rescission period after closing. Specialists guide clients through the Texas Home Equity Conversion Mortgage process which is regulated by the Texas Constitution.
What Does a Reverse Mortgage Specialist in Temple Cost?
Typical costs for a reverse mortgage specialist in Texas include an origination fee of up to 2% of the home value, a mortgage insurance premium of 2% of the appraised value, and third-party fees for appraisal title and recording. Total closing costs often range from 2,000 to 8,000 dollars depending on the home value and loan type. Some costs can be financed into the loan. 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 Temple 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. Texas law also requires that the home be your primary residence.
Is counseling required before getting a reverse mortgage in Texas?
Yes Texas law mandates that all borrowers complete a counseling session with a HUD-approved counselor before applying. This session must occur at least 30 days before closing. The counselor explains loan terms costs and alternatives.