Reverse Mortgage Specialists in Staunton, VA
Compare reverse mortgage specialists in Staunton. Review contact information and insurance categorys before you decide.
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 Virginia before hiring.
Showing 8 reverse mortgage specialists in Staunton, VA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
What Does a Reverse Mortgage Specialist in Staunton Cost?
Typical costs for a reverse mortgage specialist in Virginia include an origination fee of up to 2 percent of the home value and a HUD mandated mortgage insurance premium of 2 percent of the appraised value upfront plus 0.5 percent annually. Third party fees such as appraisal 400 to 600 title search 200 to 500 and recording fees 50 to 100 also apply. Total closing costs usually range from 3000 to 8000 but vary by property value and lender. 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 does a reverse mortgage specialist in Staunton do?
A reverse mortgage specialist guides you through the loan process explains eligibility requirements and helps you compare options. They do not provide legal advice but can coordinate with your attorney and counselor. In Virginia the specialist must be licensed by the Virginia State Corporation Commission.
Are there Virginia specific rules for reverse mortgages?
Yes Virginia requires a three day right of rescission after closing. Borrowers must also complete HUD approved counseling before the loan is approved. Virginia law does not allow lenders to require you to purchase other financial products with the loan.
How much does a reverse mortgage cost in Staunton Virginia?
Costs include an origination fee typically up to 2 percent of the home value a mortgage insurance premium of 2 percent upfront and 0.5 percent annually and third party fees like appraisal and title search. Total closing costs often range from 3000 to 8000. These costs are usually financed into the loan.