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Showing 2 reverse mortgage specialists in Odenton, MD
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
The John Shea Team at Bay Capital Mortgage
1416 Annapolis Rd Suite B, Odenton, MD 21113
4105622046
Mike Reeves Mortgage Professional
xxx, Odenton, MD 21113
2404059472
What Does a Reverse Mortgage Specialist in Odenton Cost?
Typical costs for a reverse mortgage specialist in Maryland include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent upfront plus 0.5 percent annually, and appraisal fees around 400 to 800 dollars. Closing costs generally range from 2,000 to 5,000 dollars. These costs are often financed into the loan. 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 does a reverse mortgage specialist do in Odenton?
A reverse mortgage specialist guides you through the loan process, explains eligibility, and reviews your financial situation. They help you understand Maryland counseling requirements and ensure you meet all federal and state rules.
Is a reverse mortgage right for Odenton homeowners?
It can be a good option if you are 62 or older and own your home outright or have a small mortgage. You must continue to pay property taxes, insurance, and maintain the home. Maryland law requires a mandatory counseling session to confirm you understand the loan terms.