Find Reverse Mortgage Specialists Near You in Medway, MA
Browse reverse mortgage specialists serving Medway, Massachusetts. Contact information and addresses listed below.
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
State Mortgage Licensing Authority of Massachusetts before hiring.
Showing 5 reverse mortgage specialists in Medway, MA
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A reverse mortgage specialist in Medway Massachusetts can help homeowners aged 62 and older convert home equity into tax-free funds. Massachusetts law requires borrowers to complete a counseling session with a HUD-approved counselor before applying. Specialists guide clients through the process while ensuring compliance with state regulations.
What Does a Reverse Mortgage Specialist in Medway Cost?
Typical costs for a reverse mortgage in Massachusetts 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 and title search. These fees often range from 3000 to 8000 dollars depending on the loan amount and property value. Costs vary by lender and case. 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 Medway Massachusetts?
Borrowers must be at least 62 years old. If there are co-borrowers, the youngest borrower must meet this age requirement. Massachusetts follows federal HUD guidelines for age eligibility.
Do I need counseling to get a reverse mortgage in Massachusetts?
Yes, Massachusetts law requires all reverse mortgage applicants to complete a counseling session with a HUD-approved counselor. This session must occur before you can submit a loan application. The counselor will explain the costs, benefits, and risks.
Can I lose my home with a reverse mortgage in Medway?
You can lose your home if you fail to pay property taxes or homeowners insurance, or if you move out of the home for more than 12 consecutive months. Massachusetts law provides a right to cure a default before foreclosure proceedings begin.