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 Connecticut before hiring.
Showing 3 reverse mortgage specialists in Waterford, CT
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Gateway Mortgage Services, LLC
428 Boston Post Rd, Waterford, CT 06385
8605749458
Max Satti - Mortgage Broker
428 Boston Post Rd, Waterford, CT 06385
8609410086
Residential Mortgage Services (RMS)
65 Boston Post Rd, Waterford, CT 06385
8607721500
What Does a Reverse Mortgage Specialist in Waterford Cost?
Typical costs for a reverse mortgage in Connecticut include an origination fee up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees for appraisal and title search. These costs often range from 5000 to 15000 dollars depending on home value. This is general information and 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 Waterford Connecticut?
Borrowers must be at least 62 years old. If married, a non-borrowing spouse under 62 may have protections under Connecticut law. The specialist will review your specific situation.
Do I need counseling before getting a reverse mortgage in Connecticut?
Yes, Connecticut law requires all borrowers to complete a counseling session with a HUD-approved agency. This session explains loan terms, costs, and alternatives. The specialist can provide a list of approved counselors.
How does a reverse mortgage affect my heirs in Waterford Connecticut?
Heirs can repay the loan by selling the home or using other funds. Connecticut law gives heirs a 12-month period after the last borrower dies to decide. The specialist can explain all options.