Reverse Mortgage Specialists in Madison, WI
Browse reverse mortgage specialists serving Madison, Wisconsin. Contact information and addresses listed below.
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
State Mortgage Licensing Authority of Wisconsin before hiring.
Showing 20 reverse mortgage specialists in Madison, WI
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
A reverse mortgage specialist in Madison Wisconsin helps homeowners aged 62 and older access home equity without monthly payments. Wisconsin law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage. Madison specialists can explain how Wisconsin property tax deferral programs may interact with reverse mortgage proceeds.
What Does a Reverse Mortgage Specialist in Madison Cost?
Typical costs for a reverse mortgage specialist in Wisconsin include an origination fee of up to 2 percent of the home value or 6000 dollars whichever is less. Third-party costs such as appraisal title insurance and recording fees range from 2000 to 5000 dollars. Wisconsin also charges a state mortgage recording tax of 0.30 per 100 dollars of the loan amount. These costs can be financed into the loan. 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 and property requirements for a reverse mortgage in Madison Wisconsin?
Borrowers must be at least 62 years old and own a primary residence in Wisconsin. The home must be a single-family property, a HUD-approved condominium, or a manufactured home that meets FHA standards. Madison homeowners must also occupy the property as their principal residence.
Do I need to attend counseling before getting a reverse mortgage in Wisconsin?
Yes, Wisconsin law requires all reverse mortgage applicants to complete a counseling session with a HUD-approved counselor. The session covers loan terms, costs, and alternatives. Madison residents can attend in person or by phone with a local counseling agency.
Can a reverse mortgage affect my Wisconsin property taxes or Medicaid eligibility?
A reverse mortgage does not change your property tax liability in Wisconsin. You must still pay property taxes and homeowners insurance. The loan proceeds may affect Wisconsin Medicaid eligibility if they push total assets above program limits. Consult a financial advisor for your specific situation.