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Compare Reverse Mortgage Specialists in Detroit, MI
Compare reverse mortgage specialists in Detroit. Review contact information and insurance categorys before you decide.
11 agents listed
Updated May 2026
Detroit, 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 Michigan before hiring.
Showing 11 reverse mortgage specialists in Detroit, 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.
EG Home Loans
400 Renaissance Center Suite:2600, Detroit, MI 48243
3134593097
Home Advantage Lending
211 W Fort St Suite 1600, Detroit, MI 48226
8009393505
Demetris Holloway, Mortgage Loan Officer
7436 Woodward Ave #205, Detroit, MI 48202
2485210467
Mino Lending Solutions
6001 Cass Ave, Detroit, MI 48202
8666466536
Belong Lending
7436 Woodward Ave #205, Detroit, MI 48202
2483258554
Belong Lending l Jalen Scott l Mortgage Broker
7436- 7450 Woodward Ave Suite 205, Detroit, MI 48202
5172142952
Midtown Home Mortgage
1344 Bagley St, Detroit, MI 48226
5862422307
Antoinette Gassaway - Belong Lending
7436 Woodward Ave #205, Detroit, MI 48202
8104880315
Eli Gonzalez -The Mortgage Broker
400 Renaissance Center Suite 2600, Detroit, MI 48243
3134593097
Chensea S. Thomas
7436 Woodward Ave, Detroit, MI 48202
2488013693
One Reverse Mortgage
644 Woodward Ave, Detroit, MI 48226
3133738111
A reverse mortgage specialist in Detroit helps older homeowners access home equity without monthly payments. Michigan law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage (HECM). Detroit specialists can guide you through the process, including property tax deferral programs available in Wayne County.
What Does a Reverse Mortgage Specialist in Detroit Cost?
Typical costs for a reverse mortgage in Michigan 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 such as appraisal and title search. Total closing costs usually range from 3,000 to 8,000 dollars. Michigan also requires a mandatory counseling session that costs about 125 to 150 dollars. 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
Who qualifies for a reverse mortgage in Detroit Michigan?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The home must be your primary residence. Michigan law does not impose additional age or income limits beyond federal HECM rules.
Are reverse mortgage proceeds taxable in Michigan?
No, loan proceeds from a reverse mortgage are not considered income for Michigan state tax purposes. They also do not affect Social Security or Medicare benefits. However, they may impact Medicaid eligibility if the funds are not spent within the same month.
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BeforeMortgageUSA.com is not a mortgage referral service, or financial advice provider. No broker-client relationship is formed by submitting a form or using this site. We do not endorse, recommend, or vouch for the qualifications of any broker. Past results do not guarantee future outcomes. Each case is different. Verify broker credentials with your state mortgage licensing authority before hiring.
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 Michigan.