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Find Reverse Mortgage Specialists Near You in Canton Township, MI
Directory of reverse mortgage specialists in Canton Township, Michigan. Verify credentials with the state state mortgage licensing authority before hiring.
7 agents listed
Updated June 2026
Canton Township, MI
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 Michigan before hiring.
Showing 7 reverse mortgage specialists in Canton Township, MI
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
A reverse mortgage specialist in Canton Township Michigan can help homeowners aged 62 and older access home equity without monthly payments. Michigan law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage HECM. Canton Township residents benefit from local specialists familiar with Wayne County property values and Michigan specific disclosure rules.
What Does a Reverse Mortgage Specialist in Canton Township Cost?
Typical costs for a reverse mortgage in Michigan include an origination fee up to 2 percent of the home value capped at 6000 dollars, a mortgage insurance premium of 2 percent of the appraised value, and third party fees for appraisal title and recording which can range from 1500 to 4000 dollars. Closing costs generally total 5000 to 15000 dollars depending on the home value and loan type. 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 Canton Township Michigan?
Borrowers must be at least 62 years old to qualify for a Home Equity Conversion Mortgage HECM in Michigan. All owners listed on the title must meet this age requirement. The property must be the borrower primary residence.
Are there Michigan specific protections for reverse mortgage borrowers?
Yes Michigan law mandates a three day right of rescission after closing allowing borrowers to cancel without penalty. Lenders must also provide a Michigan specific disclosure statement explaining loan terms and costs. Counseling from a HUD approved agency is required before loan approval.
What types of properties qualify for a reverse mortgage in Canton Township?
Eligible properties include single family homes, two to four unit properties where the borrower occupies one unit, and FHA approved condominiums. Manufactured homes built after June 15 1976 may also qualify if they meet HUD standards. The property must be in good condition and pass an FHA appraisal.
Reverse Mortgage Specialists in Other Michigan Cities
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About Our Listings
Brokers listed on BeforeMortgageUSA.com are compiled from publicly available directories, state 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 State Mortgage Licensing Authority of Michigan.