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Find Reverse Mortgage Specialists Near You in Springfield, MA
Directory of reverse mortgage specialists in Springfield, Massachusetts. Verify credentials with the state mortgage licensing authority before hiring.
6 agents listed
Updated May 2026
Springfield, MA
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 6 reverse mortgage specialists in Springfield, 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.
River City Mortgage LLC
1350 Main St Ste 1214, Springfield, MA 01103
8006316447
TMD Capital
1500 Main St Suite 2312, Springfield, MA 01103
8005717405
USA Mortgage Network Inc
1333 Boston Rd, Springfield, MA 01119
4137371100
James DaRosa, NMLS 2027004, USA Mortgage Network
1333 Boston Rd, Springfield, MA 01119
4132728586
Freddie Rodriguez NMLS 1681915- Licensed in MA and CT - Spanish Speaking Mortgage Loan Originator. Préstamos Hipotecarios
1333 Boston Rd, Springfield, MA 01119
4132212644
Pacific Residential Mortgage, LLC
933 E Columbus Ave Suite E, Springfield, MA 01105
4138461040
A reverse mortgage specialist in Springfield Massachusetts helps homeowners aged 62 and older access home equity without monthly payments. Massachusetts law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage. Springfield residents can use these funds for home repairs, medical expenses, or to supplement retirement income.
What Does a Reverse Mortgage Specialist in Springfield Cost?
Typical costs for a reverse mortgage specialist in Massachusetts include an origination fee of 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 4000 dollars. The upfront mortgage insurance premium is 2 percent of the appraised value. These costs are usually financed into the loan. 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 is a reverse mortgage and how does it work in Springfield Massachusetts?
A reverse mortgage allows homeowners 62 or older to convert part of their home equity into cash. In Massachusetts you must keep current on property taxes and homeowners insurance. The loan is repaid when you sell the home or move out permanently.
What are the Massachusetts requirements for getting a reverse mortgage?
Massachusetts law requires a mandatory counseling session with a HUD-approved agency before you apply. You must also own your home outright or have a low mortgage balance. The home must be your primary residence and meet FHA property standards.
Can I lose my home with a reverse mortgage in Springfield?
Yes you can lose your home if you fail to pay property taxes or homeowners insurance. Massachusetts law does not provide extra protections beyond federal rules. Staying current on these obligations is essential to keep the home.
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About Our Listings
Brokers listed on BeforeMortgageUSA.com are compiled from publicly available directories, state mortgage licensing authority records, and business listings. Inclusion does not constitute endorsement. We do not verify broker licensing, disciplinary status, or qualifications. Verify each broker's current standing with the Massachusetts.