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Showing 2 reverse mortgage specialists in Solomons, 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.
Sherri Bowen - AnnieMac Home Mortgage
14532 Solomons Island Rd S Suite 300, Solomons, MD 20688
2404318384
PNC Mortgage
13984 H G Trueman Rd, Solomons, MD 20688
4103265136
What Does a Reverse Mortgage Specialist in Solomons Cost?
Typical costs for a reverse mortgage in Maryland 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 fees for appraisal, title search, and recording. These fees can total 3,000 to 8,000 dollars or more depending on the loan amount and property value. 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 is a reverse mortgage specialist in Solomons?
A reverse mortgage specialist is a licensed professional who guides homeowners through the reverse mortgage process. They explain loan terms, costs, and eligibility requirements specific to Maryland.
What are the eligibility rules for a reverse mortgage in Maryland?
You must be at least 62 years old, own your home outright or have a low mortgage balance, and live in the home as your primary residence. Maryland also requires a financial assessment and HUD-approved counseling.
How long does the reverse mortgage process take in Solomons?
The process typically takes 30 to 45 days from application to closing. This includes mandatory counseling, property appraisal, and underwriting review. Delays can occur if additional documentation is needed.