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 3 reverse mortgage specialists in Spring Lake, 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.
LeaderOne Financial Julie Sustaita
518 W Savidge St Suite 3, Spring Lake, MI 49456
2317500790
Revolution Mortgage - Dan Vaughan
14998 Cleveland St STE F, Spring Lake, MI 49456
2317204858
Revolution Mortgage - Kolbey Nelson
14998 Cleveland St STE F, Spring Lake, MI 49456
6165107365
What Does a Reverse Mortgage Specialist in Spring Lake Cost?
Typical costs for a reverse mortgage in Michigan include an origination fee of 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 range from 1000 to 3000 dollars. Total closing costs often fall between 5000 and 15000 dollars depending on the home value 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 Spring Lake Michigan?
Borrowers must be at least 62 years old. If married, the younger spouse must also be 62 to be listed on the loan. Michigan follows federal HUD guidelines for age eligibility.
Do I need counseling before getting a reverse mortgage in Michigan?
Yes, Michigan law requires all borrowers to complete a counseling session with a HUD-approved counselor. This session explains loan terms, costs, and alternatives. The counselor must be independent from the lender.
Can I lose my home with a reverse mortgage in Spring Lake?
You can lose your home if you fail to pay property taxes, homeowners insurance, or maintain the property. Michigan law does not provide extra protections beyond federal rules. The loan becomes due if you move out or sell the home.