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Compare Reverse Mortgage Specialists in Lakewood, OH
Compare reverse mortgage specialists in Lakewood. Review contact information and insurance categorys before you decide.
3 agents listed
Updated May 2026
Lakewood, OH
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 Ohio before hiring.
Showing 3 reverse mortgage specialists in Lakewood, OH
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 - John Deleva
14701 Detroit Ave #750, Lakewood, OH 44107
2164525120
OneMain Financial
16214 Madison Ave, Lakewood, OH 44107
2162218131
Premier Mortgage Consultants LTD
14700 Detroit Ave, Lakewood, OH 44107
8009109480
A reverse mortgage specialist in Lakewood Ohio helps homeowners aged 62 and older convert home equity into tax-free funds without monthly payments. Ohio law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage. Lakewood residents can use these funds for home repairs, medical expenses, or supplementing retirement income.
What Does a Reverse Mortgage Specialist in Lakewood Cost?
Typical costs for a reverse mortgage in Ohio include an origination fee up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees such as appraisal and title search. These costs can total 3000 to 8000 dollars or more depending on the home value and loan type. 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 eligibility requirements for a reverse mortgage in Lakewood Ohio?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The home must be your primary residence and meet HUD property standards. Ohio law does not add extra age or income requirements beyond federal HECM rules.
How does Ohio law affect reverse mortgage proceeds?
Ohio follows federal HECM guidelines for loan limits and disbursement options. Borrowers can choose lump sum, monthly payments, or a line of credit. Ohio does not tax reverse mortgage proceeds as income, but they may affect eligibility for Medicaid or other need-based benefits.
Can a reverse mortgage be foreclosed in Ohio?
Yes, if you fail to pay property taxes, homeowners insurance, or maintain the home. Ohio law requires lenders to provide a notice of default and a 30-day cure period before foreclosure can begin. Non-borrowing spouses have limited protections under Ohio law.
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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 Ohio.