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Compare Reverse Mortgage Specialists in Somerset, KY
Directory of reverse mortgage specialists in Somerset, Kentucky. Verify credentials with the state mortgage licensing authority before hiring.
16 agents listed
Updated May 2026
Somerset, KY
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 Kentucky before hiring.
Showing 16 reverse mortgage specialists in Somerset, KY
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Eagle Finance
650 N Main St Suite 216, Somerset, KY 42501
6066760899
CheckSmart
300 Sam Walton Dr Ste 1300, Somerset, KY 42501
6064513136
World Finance
300 Sam Walton Dr Ste 1400, Somerset, KY 42501
6066788131
Michael Abbott-Mortgage Loan Originator-Citizens National Bank--Local Lake Cumberland - NMLS 2035068- Equal Housing Lender
44 Public Square, Somerset, KY 42501
6062789387
Mariner Finance
2835 S Hwy 27 Ste. 186, Somerset, KY 42501
6064510602
Republic State Mortgage
650 S Hwy 27 #4, Somerset, KY 42501
6063411143
Lendmark Financial Services LLC
3786 S Hwy 27, Somerset, KY 42501
6066787171
New American Funding - Amanda Bolin
5877 S Hwy 27 suite a, Somerset, KY 42501
6062548335
Kyle Ball Mortgage Loan Officer @ Republic State Mortgage Company
5877 S Hwy 27, Somerset, KY 42501
6062193323
Farm Credit Mid-America
2211 KY-914, Somerset, KY 42503
6066794311
First Century Lending
120 S Hwy 27 #2, Somerset, KY 42501
6066782231
New American Funding - Somerset
5877 S Hwy 27 suite a, Somerset, KY 42501
6067272162
Adam Brown
15 S Hwy 27, Somerset, KY 42503
6066772707
Daniel Roberts
15 S Hwy 27, Somerset, KY 42503
6066772707
Benchmark Mortgage
110 Richie Ln suite a, Somerset, KY 42503
6064510803
Mortgage Solutions
3737 S Hwy 27, Somerset, KY 42501
6066760321
A reverse mortgage specialist in Somerset, Kentucky helps homeowners aged 62 and older convert home equity into loan proceeds. In Kentucky, borrowers must complete a HUD-approved counseling session before applying. Somerset residents often use these funds for home repairs, medical expenses, or supplementing retirement income.
What Does a Reverse Mortgage Specialist in Somerset Cost?
Typical costs for a reverse mortgage in Kentucky include an origination fee up to $6,000, a mortgage insurance premium of 2% of the home value, and third-party fees for appraisal and title work. Total closing costs often range from $2,000 to $8,000. Costs vary by lender and loan type. 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 eligibility requirements for a reverse mortgage in Somerset Kentucky?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The home must be your primary residence. Kentucky law does not add extra age or income requirements beyond federal HUD rules.
How much can I borrow with a reverse mortgage in Somerset?
The amount depends on your age, home value, and current interest rates. In Kentucky, the maximum claim amount for an FHA-insured reverse mortgage is $1,089,300 as of 2024. Younger borrowers typically receive less than older borrowers.
Are reverse mortgage proceeds taxable in Kentucky?
No, reverse mortgage proceeds are not considered income for federal or Kentucky state tax purposes. However, interest on the loan is not deductible until you pay it back. Always consult a tax professional for your specific situation.
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About Our Listings
Brokers listed on BeforeMortgageUSA.com are compiled from publicly available directories, state mortgage licensing authority records, and business listings. Inclusion does not constitute endorsement. We do not verify broker licensing, disciplinary status, or qualifications. Verify each broker's current standing with the Kentucky.