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Compare reverse mortgage specialists in Bonney Lake. Review contact information and insurance categorys before you decide.
3 agents listed
Updated May 2026
Bonney Lake, WA
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 Washington before hiring.
Showing 3 reverse mortgage specialists in Bonney Lake, WA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Academy Mortgage
8412 Myers Rd E #205, Bonney Lake, WA 98391
2532923360
Fairway Independent Mortgage Corporation Bonney Lake
21270 WA-410 E, Bonney Lake, WA 98391
2064069713
US Bank Mortgage
21125 WA-410 E, Bonney Lake, WA 98391
2538629533
A reverse mortgage specialist in Bonney Lake Washington helps homeowners aged 62 and older convert part of their home equity into cash without selling the home. Washington law requires borrowers to complete a counseling session with a HUD-approved counselor before applying. The specialist explains how a Home Equity Conversion Mortgage (HECM) works with local property values and tax rules in Pierce County.
What Does a Reverse Mortgage Specialist in Bonney Lake Cost?
Typical costs for a reverse mortgage in Washington include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees for appraisal title and recording. Total closing costs often range from 5,000 to 15,000 dollars depending on home value and lender. These costs can be financed into the loan so you pay little upfront. 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 does a reverse mortgage specialist do in Bonney Lake?
A reverse mortgage specialist guides Bonney Lake homeowners through the HECM process from initial counseling to loan closing. They explain how Washington state law affects loan terms including the non-recourse feature which protects heirs from owing more than the home is worth. The specialist also helps you understand how property taxes and insurance requirements apply locally.
Are reverse mortgages regulated differently in Washington state?
Yes Washington has specific rules. Lenders must be licensed under the Washington Consumer Loan Act and borrowers must complete a HUD-approved counseling session. Washington also requires a three-day right of rescission after closing giving you time to cancel the loan without penalty.
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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 Washington.