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Compare reverse mortgage specialists in Biddeford. Review contact information and insurance categorys before you decide.
3 agents listed
Updated May 2026
Biddeford, ME
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 Maine before hiring.
Showing 3 reverse mortgage specialists in Biddeford, ME
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Jim Frechette - Geneva Financial, NMLS #1602897
180 Pool St Suite 111, Biddeford, ME 04005
2076515955
Meg Faulkner – Mortgage Loan Officer at Bangor Savings Bank NMLS 184955
208 Main St, Biddeford, ME 04005
2072899575
Edward Jones - Financial Advisor: Abigail Bryant, CFP®
20 Edwards Ave Suite 4, Biddeford, ME 04005
2072827575
A reverse mortgage specialist in Biddeford helps older homeowners access home equity without monthly payments. In Maine, borrowers must complete a HUD-approved counseling session before obtaining a Home Equity Conversion Mortgage. Specialists can explain how Maine property tax deferral programs may interact with reverse mortgage proceeds.
What Does a Reverse Mortgage Specialist in Biddeford Cost?
Typical costs for a reverse mortgage in Maine 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 costs such as appraisal and title search. Total closing costs often range from 2,000 to 8,000 dollars depending on the home value and loan type. 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 qualifications should a reverse mortgage specialist in Biddeford have?
A qualified specialist should be licensed in Maine and have experience with Home Equity Conversion Mortgages. They should also be familiar with Maine specific laws such as the three day right of rescission after closing.
Are reverse mortgages regulated differently in Maine?
Yes, Maine has additional consumer protections. Lenders must provide a Maine specific disclosure and borrowers have a three day right to cancel after signing loan documents. The state also requires that all reverse mortgage advertising clearly state the loan is a mortgage.
Can I lose my Biddeford home with a reverse mortgage?
You can lose your home if you fail to pay property taxes, homeowners insurance, or maintain the property. Maine law requires lenders to provide a notice of default and a 30 day cure period before foreclosure proceedings can start.
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BeforeMortgageUSA.com is not a mortgage referral service, or financial advice provider. No broker-client relationship is formed by submitting a form or using this site. We do not endorse, recommend, or vouch for the qualifications of any broker. Past results do not guarantee future outcomes. Each case is different. Verify broker credentials with your state mortgage licensing authority before hiring.
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 Maine.