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 West Virginia before hiring.
Showing 9 reverse mortgage specialists in Fairmont, WV
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
loanDepot
110 Merchant St #201, Fairmont, WV 26554
3043761228
Truist
401 4th St, Fairmont, WV 26554
3043683200
Mission Financial Advisors
1042 Morgantown Ave, Fairmont, WV 26554
3043630073
Laura Candell, Guaranteed Rate
110 Adams St First Floor, Suite 101, Fairmont, WV 26554
3044764167
Edward Jones - Financial Advisor: Evan M Kliethermes
1000 State St, Fairmont, WV 26554
3043630787
Edward Jones - Financial Advisor: Brian Kerekes, CFP®
1000 Technology Dr Suite 1340, Fairmont, WV 26554
3043630121
Marcie Hayhurst at Rate (NMLS #431177)
110 Adams St 1st Floor Offices 101 & 103, Fairmont, WV 26554
3044511744
Ryan Ford - MVB Mortgage/Intercoastal Mortgage, LLC
301 Virginia Ave, Fairmont, WV 26554
3043761228
Marcie A Hayhurst - Truist Mortgage Loan Officer
401 4th St, Fairmont, WV 26554
3043683228
What Does a Reverse Mortgage Specialist in Fairmont Cost?
Typical costs for a reverse mortgage in West Virginia 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 such as appraisal and title search. Total closing costs often range from 2,500 to 5,000 dollars. These costs can be financed into the loan so you pay little out of pocket. 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 are the age requirements for a reverse mortgage in Fairmont West Virginia?
Borrowers must be at least 62 years old. The youngest borrower on the title must meet this age requirement. Spouses under 62 may have certain protections under HUD rules if they are named on the loan.
Do I need to own my home free and clear to get a reverse mortgage in Fairmont?
No, you do not need to own your home free and clear. You can use a reverse mortgage to pay off an existing mortgage balance. The remaining equity after paying off the old loan becomes available to you.
What happens to the reverse mortgage when I pass away in West Virginia?
After the last borrower passes away, the loan becomes due. Heirs have up to 30 days to decide to pay off the loan or sell the home. If they sell the home for less than the loan balance, FHA insurance covers the difference.