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Showing 3 reverse mortgage specialists in Holladay, UT
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
New American Funding - Holladay, UT
4525 S 2300 E Ste 201, 202, 203, Holladay, UT 84117
8018090213
Home Quest Lending
4685 Highland Dr Suite 105, Holladay, UT 84117
8019130309
Mountain View Mortgage LLC
6510 Millrock Dr Suite 160, Holladay, UT 84121
8018084648
What Does a Reverse Mortgage Specialist in Holladay Cost?
Typical costs for a reverse mortgage specialist in Utah include an origination fee of up to 2 percent of the first 200000 of home value plus 1 percent of the amount above that. Third-party closing costs such as appraisal title insurance and recording fees range from 2000 to 5000. Counseling fees are usually 125 to 250. These costs are often 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 qualifications should a reverse mortgage specialist in Holladay have?
A qualified specialist should hold a valid Utah mortgage license and be certified to originate HECM loans. They must also follow federal HUD guidelines and Utah state regulations regarding reverse mortgages.
How does Utah law affect reverse mortgage terms in Holladay?
Utah follows federal HECM rules but also requires that borrowers receive independent counseling from a HUD-approved agency. Utahs non-recourse law means the borrower or their heirs will never owe more than the homes value at sale.
Can I lose my Holladay home with a reverse mortgage?
You can lose your home if you fail to pay property taxes or homeowners insurance or if you do not maintain the property. Utah law requires lenders to provide clear warnings about these obligations before closing.