Reverse Mortgage Specialists in Tyler, TX
Directory of reverse mortgage specialists in Tyler, 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 20 reverse mortgage specialists in Tyler, 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 Tyler, Texas can help homeowners aged 62 and older access home equity. Texas law requires mandatory counseling through a HUD-approved agency before a reverse mortgage can be finalized. Specialists in Tyler guide clients through the unique requirements of Texas property law and the application process.
What Does a Reverse Mortgage Specialist in Tyler Cost?
Typical costs for a reverse mortgage specialist in Tyler, Texas include an origination fee of 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, title search, and recording. Total closing costs generally range from 2,000 to 6,000 dollars. These 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 Tyler Texas?
Borrowers must be at least 62 years old. If married, the younger spouse must also be 62 to be listed on the loan. Texas follows federal HUD guidelines for age eligibility.
Is counseling required before getting a reverse mortgage in Texas?
Yes, Texas law requires all reverse mortgage applicants to complete a counseling session with a HUD-approved counselor. The session covers loan terms, costs, and alternatives. This must happen before you can submit a loan application.
Are there specific property requirements for a reverse mortgage in Tyler?
The property must be your primary residence and a single-family home, a HUD-approved condominium, or a manufactured home that meets FHA standards. Texas law also requires the home to be in reasonable condition as determined by an FHA appraisal.