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 Wisconsin before hiring.
Showing 3 reverse mortgage specialists in Grafton, WI
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Edward Jones - Financial Advisor: Jerry J Faust
1215 12th Ave, Grafton, WI 53024
2623777043
Edward Jones - Financial Advisor: Tyge C Olson, CFP®
1505 Wisconsin Ave Ste 180, Grafton, WI 53024
2623775320
US Bank Mortgage
2368 Washington St, Grafton, WI 53024
8008722657
What Does a Reverse Mortgage Specialist in Grafton Cost?
Typical costs for a reverse mortgage in Wisconsin include an origination fee (up to $6,000), a mortgage insurance premium (2% of the home value upfront plus 0.5% annually), appraisal fees ($400 to $800), and closing costs ($1,500 to $3,000). Total costs often range from $8,000 to $15,000 but vary by loan amount and property value. 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 Grafton Wisconsin?
Borrowers must be at least 62 years old. If married, a younger spouse may be listed as a non-borrowing spouse and retain certain protections under Wisconsin law.
Do I need to own my home free and clear to get a reverse mortgage in Grafton?
No. You can still qualify if you have an existing mortgage, but the reverse mortgage must pay off that debt first. Your remaining equity determines the loan amount.
Are reverse mortgage proceeds taxable in Wisconsin?
Proceeds from a reverse mortgage are generally not considered taxable income by the IRS or the state of Wisconsin. However, interest is not deductible until the loan is repaid.