Reverse Mortgage Specialists in Plymouth, MA
Browse reverse mortgage specialists serving Plymouth, 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 16 reverse mortgage specialists in Plymouth, 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.
What Does a Reverse Mortgage Specialist in Plymouth Cost?
Typical costs for a reverse mortgage specialist in Massachusetts include an origination fee up to 2 percent of the home value capped at 6000 dollars. Third party costs such as appraisal title search and recording fees range from 2000 to 5000 dollars. The upfront mortgage insurance premium is 2 percent of the home value and annual premiums are 0.5 percent. Costs vary by case and loan amount. 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 does a reverse mortgage specialist in Plymouth need?
In Massachusetts a reverse mortgage specialist must hold a valid mortgage loan originator license. They should also have experience with Home Equity Conversion Mortgages HECMs which are federally insured. The specialist must follow state rules including the three-day right of rescission period after closing.
Are there income or credit requirements for a reverse mortgage in Plymouth?
Yes lenders review your income credit history and ability to pay property taxes and insurance. Massachusetts law does not set specific income minimums but you must show you can meet ongoing obligations. A financial assessment is required as part of the HUD approval process.
What happens to the loan when the borrower moves or passes away in Plymouth?
The loan becomes due when the last borrower dies sells the home or moves out permanently. In Massachusetts heirs have up to 12 months to repay the loan or sell the property. They can also choose to deed the home to the lender to satisfy the debt.