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 West Bloomfield 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.
Amax Lending
7071 Orchard Lake Rd Suite 235, West Bloomfield Township, MI 48322
2483906597
Best Interest
6960 Orchard Lake Rd #304, West Bloomfield Township, MI 48322
5865444101
Happy Mortgage LLC
7091 Orchard Lake Rd #255, West Bloomfield Township, MI 48322
2482559737
What Does a Reverse Mortgage Specialist in West Bloomfield Township Cost?
Typical costs for a reverse mortgage specialist in Michigan include an origination fee of up to 2 percent of the home value and a mortgage insurance premium of 2 percent of the appraised value. Third-party costs like appraisal and title search range from 500 to 1500 dollars. Total closing costs often fall between 3000 and 8000 dollars depending on the loan amount and property. This information is general and does not constitute 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 does a reverse mortgage specialist do in West Bloomfield Township?
A reverse mortgage specialist explains loan options like HECM products and helps you understand eligibility. They coordinate with HUD-approved counselors as required by Michigan law. They also review your home equity and financial situation to see if a reverse mortgage fits your needs.
What are the age and equity requirements for a reverse mortgage in Michigan?
You must be at least 62 years old to qualify for a reverse mortgage in Michigan. Your home must be your primary residence and you need substantial equity. Michigan law does not set a minimum equity amount but most lenders require at least 50 percent equity.