A reverse mortgage specialist in South Burlington Vermont helps homeowners aged 62 and older access home equity. Vermont law requires borrowers to complete HUD approved counseling before applying for a Home Equity Conversion Mortgage. Specialists in the Burlington area guide clients through federal and state requirements for these loans.
What Does a Reverse Mortgage Specialist in South Burlington Cost?
Typical costs for a reverse mortgage specialist in Vermont include an origination fee of up to 2 percent of the home value capped at 6000 dollars. Third party costs like appraisal title and recording fees range from 2000 to 5000 dollars. The upfront mortgage insurance premium is 2 percent of the appraised value. Ongoing annual mortgage insurance is 0.5 percent of the loan balance. 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.
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Reverse Mortgage Specialists in Other Vermont Cities
Barre · Brattleboro · Burlington · Colchester · Essex Junction · Middlebury · Montpelier · Rutland · Stowe · West Dover · Williston