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Browse reverse mortgage specialists serving Saco, Maine. Contact information and addresses listed below.
6 agents listed
Updated May 2026
Saco, 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 6 reverse mortgage specialists in Saco, 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.
Randy Forcier
9 Beach St 2nd Floor, Saco, ME 04072
2075900337
Christopher Bedard
9 Beach St 2nd Floor, Saco, ME 04072
2072294731
Bryan Daley – Mortgage Loan Officer at Bangor Savings Bank (NMLS #415912)
270 Main St, Saco, ME 04072
2072299225
Harbor View Lending
439 Main St #101, Saco, ME 04072
2075718034
Norcom Mortgage
9 Beach St 2nd Floor, Saco, ME 04072
2074947149
Lawrence Zellers
9 Beach St 2nd Floor, Saco, ME 04072
2077301125
A reverse mortgage specialist in Saco Maine helps homeowners aged 62 and older convert home equity into tax-free funds without monthly payments. Maine law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage (HECM). Local specialists understand Saco property values and can explain how Maine homestead exemption rules affect your reverse mortgage options.
What Does a Reverse Mortgage Specialist in Saco Cost?
Typical costs for a reverse mortgage in Maine include an origination fee (up to 2 percent of the home value, capped at 6000 dollars), a mortgage insurance premium (2 percent of the appraised value upfront plus 0.5 percent annually), appraisal fees (400 to 800 dollars), and closing costs (1500 to 3000 dollars). Counseling is usually free or low-cost (under 150 dollars). Total costs vary by loan amount and property 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 Saco Maine?
Borrowers must be at least 62 years old. If married, the younger spouse must also be 62 unless the loan is structured as a HECM for purchase. Maine law does not change this federal requirement.
Do I need counseling before getting a reverse mortgage in Maine?
Yes. Maine law and federal HUD rules require all borrowers to complete a counseling session with a HUD-approved counselor. This session covers loan terms, costs, and alternatives. You must receive a signed counseling certificate before the lender can process your application.
Are reverse mortgage proceeds taxable in Maine?
No. Reverse mortgage proceeds are considered loan advances, not income, so they are not taxable at the federal or Maine state level. However, interest is not deductible until you pay it back. Consult a tax professional for your specific situation.
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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.