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Compare Reverse Mortgage Specialists in Chelsea, AL
Browse reverse mortgage specialists serving Chelsea, Alabama. Contact information and addresses listed below.
2 agents listed
Updated May 2026
Chelsea, AL
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 Alabama before hiring.
Showing 2 reverse mortgage specialists in Chelsea, AL
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Kristy Redford
48 Chesser Crane Rd, Chelsea, AL 35043
2052664092
MortgageBanc- Chelsea
1801 Co Rd 39, Chelsea, AL 35043
2059864220
A reverse mortgage specialist in Chelsea Alabama helps homeowners aged 62 and older access home equity without monthly payments. Alabama law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage. Local specialists guide clients through state-specific property tax deferral options and loan repayment rules.
What Does a Reverse Mortgage Specialist in Chelsea Cost?
Typical costs for a reverse mortgage specialist in Alabama 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 and title work. Total closing costs often range from 3000 to 8000 dollars depending on 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 age requirements for a reverse mortgage in Chelsea Alabama?
Borrowers must be at least 62 years old. The loan must be secured by a primary residence in Alabama. Non-borrowing spouses have certain protections under federal rules.
Do I need counseling before getting a reverse mortgage in Alabama?
Yes, Alabama law requires all borrowers to complete a HUD-approved counseling session. This session explains loan terms, costs, and alternatives. The counselor must be independent from the lender.
Can I lose my home with a reverse mortgage in Chelsea?
You can lose your home if you fail to pay property taxes, homeowners insurance, or maintain the property. Alabama law does not allow the lender to take the home as long as you meet these obligations.
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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 Alabama.