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Find Reverse Mortgage Specialists in Wixom, MI

Looking for a reverse mortgage specialist in Wixom? Review the directory below to compare your options.

2 agents listed
Updated May 2026
Wixom, 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 Wixom, 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 - Detroit
47757 West Rd Suite C-104, Wixom, MI 48393
2482956000
Elite Loans
28345 Beck Rd #205, Wixom, MI 48393
3135477100

A reverse mortgage specialist in Wixom Michigan helps homeowners aged 62 and older convert home equity into tax-free funds. Michigan law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage. Wixom residents often use these loans to supplement retirement income or pay for home repairs while staying in their homes.

What Does a Reverse Mortgage Specialist in Wixom Cost?

Typical costs for a reverse mortgage specialist in Michigan include an origination fee of up to 2% of the homes value, a mortgage insurance premium of 2% of the appraised value, and third-party fees for appraisal and title work. These fees total between 3000 and 8000 dollars for a 200000 dollar home. Costs vary by loan type and lender. 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 Wixom Michigan?
Borrowers must be at least 62 years old. If married, a younger spouse may be protected under Michigan law if they are listed on the loan documents. The home must be the borrowers primary residence.
Do I need to own my home free and clear to get a reverse mortgage in Wixom?
No, you can still qualify if you have an existing mortgage. The reverse mortgage proceeds must first pay off any current mortgage balance. Michigan law requires that the home be a single-family property or a HUD-approved condominium.