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Find Reverse Mortgage Specialists Near You in New Baltimore, MI
Browse reverse mortgage specialists serving New Baltimore, Michigan. Contact information and addresses listed below.
2 agents listed
Updated May 2026
New Baltimore, 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 2 reverse mortgage specialists in New Baltimore, 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.
Union Home Mortgage - Chesterfield
49940 Gratiot Ave b, New Baltimore, MI 48051
2484311726
Michigan Home Rewards
36622 Green St, New Baltimore, MI 48047
5862910920
A reverse mortgage specialist in New Baltimore, Michigan helps homeowners aged 62 and older convert home equity into loan proceeds without monthly payments. Michigan law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage (HECM). Specialists in New Baltimore can guide you through the process, including property eligibility and loan repayment terms.
What Does a Reverse Mortgage Specialist in New Baltimore Cost?
Typical costs for a reverse mortgage in Michigan include an origination fee (up to 2.5 percent of the home value, capped at 6,000 dollars), an upfront mortgage insurance premium (2 percent of the appraised value), and third-party fees such as appraisal (400 to 600 dollars) and title search (300 to 800 dollars). Annual costs include servicing fees and mortgage insurance premiums. Costs vary by situation and loan type. 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 New Baltimore Michigan?
Borrowers must be at least 62 years old. If there are co-borrowers, the youngest must meet this age requirement. This follows federal HUD rules for HECM loans.
Do I need to own my home free and clear to get a reverse mortgage in New Baltimore?
No. You can have an existing mortgage, but the reverse mortgage must pay off that balance first. The remaining equity is then available to you. Michigan law does not require full ownership.
What types of properties qualify for a reverse mortgage in New Baltimore Michigan?
Eligible properties include single-family homes, HUD-approved condominiums, and manufactured homes that meet FHA standards. Two-to-four unit properties may qualify if the owner occupies one unit. Michigan does not have additional property restrictions beyond federal guidelines.
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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 Michigan.