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Showing 2 reverse mortgage specialists in Concord, MA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Guild Mortgage - Laura Mullins
26 Main St #2, Concord, MA 01742
9783697182
Guild Mortgage Company
26 Main St #2, Concord, MA 01742
9783697182
What Does a Reverse Mortgage Specialist in Concord Cost?
In Massachusetts, reverse mortgage specialists typically charge origination fees of 1 to 2 percent of the loan amount, capped at $6,000 for HECM loans. Third-party costs like appraisal and title search range from $500 to $1,500. Counseling fees are usually $125 to $150. All costs vary by situation. 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 qualifications must a reverse mortgage specialist have in Massachusetts?
In Massachusetts, reverse mortgage specialists must hold a valid mortgage loan originator license. They must also follow state regulations including a three-day right of rescission period after closing.
Is counseling required before getting a reverse mortgage in Concord?
Yes, Massachusetts law requires all borrowers to complete counseling with a HUD-approved agency before applying for a HECM loan. This session covers loan terms, costs, and alternatives.
Can a reverse mortgage affect my Massachusetts property tax deferral?
Yes. If you have a property tax deferral through the Massachusetts Senior Circuit Breaker program, a reverse mortgage may change eligibility. A specialist can explain how these programs interact.