Find Reverse Mortgage Specialists in Waco, TX
Looking for a reverse mortgage specialist in Waco? Review the directory below to compare your options.
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 Waco, 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.
Reverse mortgage specialists in Waco Texas help seniors aged 62 and older convert home equity into loan proceeds without monthly payments. Under Texas law, borrowers must complete a mandatory counseling session with a HUD-approved counselor before applying. Local specialists guide clients through the Texas Home Equity Conversion Mortgage rules and property tax deferral options.
What Does a Reverse Mortgage Specialist in Waco Cost?
Typical costs for a reverse mortgage specialist in 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 like appraisal and title search. For a home valued at 300,000 dollars, total closing costs often range from 8,000 to 15,000 dollars. Costs vary by loan type 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 are the age requirements for a reverse mortgage in Waco Texas?
Borrowers must be at least 62 years old. All owners on the title must meet this age requirement under Texas law. The home must be the primary residence.
Do I need counseling before getting a reverse mortgage in Texas?
Yes. Texas law requires a mandatory counseling session with a HUD-approved counselor before you can apply. This session explains loan terms, costs, and alternatives.