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 2 reverse mortgage specialists in Hartland, 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.
Mortgage 1 - Hartland
11636 Highland Rd STE 103, Hartland, MI 48353
2484861117
Modern Mortgage
1297 Maxfield Lake Rd, Hartland, MI 48353
2485207504
What Does a Reverse Mortgage Specialist in Hartland Cost?
Typical costs for a reverse mortgage specialist in Michigan include an origination fee of up to $6,000 and a mortgage insurance premium of 2% of the home value. Appraisal fees range from $400 to $800 and closing costs vary between $2,000 and $5,000. These costs are often financed into the loan rather than paid upfront. 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 Hartland Michigan?
Borrowers must be at least 62 years old to qualify for a reverse mortgage in Hartland. This age requirement is set by federal HUD guidelines for HECM loans. Both spouses must meet the age requirement if they are listed on the title.
Do I need counseling before getting a reverse mortgage in Michigan?
Yes Michigan law requires all reverse mortgage applicants to complete a counseling session with a HUD-approved counselor. The session covers loan terms costs and alternatives. You must receive a certificate of completion before your lender can process the application.
Can I lose my home with a reverse mortgage in Hartland?
You can lose your home if you fail to meet loan obligations such as paying property taxes homeowners insurance or maintaining the property. Michigan law provides a right of rescission allowing you to cancel the loan within three business days of closing. It is important to stay current on all home-related expenses.