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 Massachusetts before hiring.
Showing 3 reverse mortgage specialists in Mansfield, 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.
Massachusetts Mortgage Broker
44 Angelina Ln, Mansfield, MA 02048
5086560055
Salem Five Mortgage Company, LLC
43 N Main St, Mansfield, MA 02048
8008505000
radius financial group inc.
214 Rumford Ave Unit 1, Mansfield, MA 02048
5083399400
What Does a Reverse Mortgage Specialist in Mansfield Cost?
Typical costs for a reverse mortgage specialist in Massachusetts include an origination fee of up to 2500 dollars or 2 percent of the home value whichever is less. Third-party costs such as appraisal title search and recording fees range from 1500 to 4000 dollars. The upfront mortgage insurance premium is 2 percent of the home value. These costs are usually 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 are the age requirements for a reverse mortgage in Mansfield Massachusetts?
Borrowers must be at least 62 years old. If married the younger spouse must also be 62 or older for a standard HECM. Massachusetts law does not lower this federal age requirement.
Do I need counseling before getting a reverse mortgage in Massachusetts?
Yes Massachusetts requires all borrowers to attend a counseling session with a HUD-approved counselor. This session must happen before you submit a loan application. The counselor explains loan terms costs and alternatives.
Can I lose my home with a reverse mortgage in Mansfield?
You can lose your home if you fail to pay property taxes or homeowners insurance or if you stop living in the home as your primary residence. Massachusetts law gives you a right to cure a default within a specific time period before foreclosure starts.