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Find Reverse Mortgage Specialists Near You in Foley, AL
Compare reverse mortgage specialists in Foley. Review contact information and insurance categorys before you decide.
9 agents listed
Updated May 2026
Foley, 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 9 reverse mortgage specialists in Foley, 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.
Security Finance
14923 AL-59 b, Foley, AL 36535
2519703777
The Sharon Thompson Team - Fairway Independent Mortgage Corp.
8154 AL-59 Suite 207, Foley, AL 36535
2512985304
Regional Finance
1123 N McKenzie St, Foley, AL 36535
2519521100
Barr Group Mortgage, Vicky Pitts
21040 Miflin Rd Executive Suite 4, Foley, AL 36535
2512333358
Weber Mortgage | Brian Lehmann
307 S McKenzie St #114, Foley, AL 36535
2516160005
TJH Mortgage Brokers, LLC
307 S McKenzie St #208, Foley, AL 36535
2516093770
Mission 1st Mortgage-Foley Branch
209 W Jessamine Ave, Foley, AL 36535
2512198914
Foley Mortgage Broker
316 S McKenzie St, Foley, AL 36535
4436072324
Fountain Home Loans LLC
8154 AL-59 Ste 213, Foley, AL 36535
2512200506
A reverse mortgage specialist in Foley Alabama helps homeowners aged 62 and older convert home equity into cash without monthly payments. In Alabama, borrowers must complete a HUD approved counseling session before applying. Foley specialists guide clients through the Federal Housing Administration insured Home Equity Conversion Mortgage program.
What Does a Reverse Mortgage Specialist in Foley Cost?
Typical costs for a reverse mortgage in Alabama include an origination fee up to 2.5 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third party closing costs like appraisal and title fees. Total closing costs often range from 5,000 to 10,000 dollars for a 200,000 dollar home. Costs vary by loan size 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 Foley Alabama?
Borrowers must be at least 62 years old. If married, a non borrowing spouse under 62 may remain in the home after the borrower passes away under certain conditions.
Do I need to own my home free and clear to get a reverse mortgage in Foley?
No. You can have an existing mortgage. The reverse mortgage proceeds must first pay off any current mortgage balance. The home must be your primary residence.
Are reverse mortgage proceeds taxable in Alabama?
No. Reverse mortgage proceeds are considered loan advances, not income. They are not subject to federal or Alabama state income tax.
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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.