Reverse Mortgage Arizona:
Reverse mortgage Arizona information found here. You will not find a reverse mortgage calculator one on this page. We beleive in the old fashion on on one conversation with our clients. Here’s how you can qualify for a reverse mortgage.
First off, one must be 62 years of age. Your age and the equity in your home determines your loan amount. Income nor assets do not affect your loan amount. Call our office and we will tell you your qualification amount.
No Junk Fees On A Reverse Mortgage Arizona Loan:
Yep! That’s correct. We will not charge you junk fees.
What Fees Can I Expect:
To begin, there is a standard hecm counseling fee of $125. The appraisal fee is set at $600. If you require a final inspection that fee varies from $125-$175. It depends upon the county code and the area.
Next, is the lender fee to approve the loan. As of 9/19/17 if your loan is not a jumbo loan, the underwriting fee is $295 plus a small origination fee which the bank charges; not us. There is a higher fee for Jumbo reverse mortgages. This fee though is subject to change. Lastly, there are title fees, recording fees, and a days per interest charge on the loan. Title fees vary with different title company.
Shopping Around For The Lowest Rates and Fees:
Furthermore, we always do our best to shop around for the lowest fees for our clients. In some cases, you need to drive a little bit further just to save on title fees. However, if money is no object, we can find a closer title company near you. Another option, is to pay for a mobile notary to come to your home and sign you.
“This material is not from HUD or FHA and this document was not approved by the Department of Government Agency.”