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 5 reverse mortgage specialists in Salem, 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.
Phil Tocci Mortgage Lender
210 Essex St, Salem, MA 01970
6177103980
JSW Mortgage, LLC.
2 1/2 Becket St, Salem, MA 01970
6172949001
Bank of America Home Mortgage
21 Paradise Rd, Salem, MA 01970
7819545217
Total Mortgage Salem NMLS #2468597
131 Boston St, Salem, MA 01970
9782104194
Raphael Lunardi - Total Mortgage NMLS #2432177
131 Boston St #2, Salem, MA 01970
9783043552
What Does a Reverse Mortgage Specialist in Salem Cost?
Typical costs for a reverse mortgage specialist 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 like appraisal and title search. These fees often total 3,000 to 8,000 dollars but vary by loan size and property. 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 Salem Massachusetts?
Borrowers must be at least 62 years old. The youngest borrower on the title must meet this age requirement under federal HECM rules.
Is counseling required for a reverse mortgage in Massachusetts?
Yes, Massachusetts law mandates that all borrowers complete a counseling session with a HUD-approved counselor. This session must occur before you can submit a loan application.