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 Connecticut before hiring.
Showing 6 reverse mortgage specialists in Manchester, CT
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
AnnieMac Home Mortgage - Manchester, CT
873 Main St, Manchester, CT 06040
(860) 995-1222
momentumgroup.annie-mac.com
David A. Mazzola, Generation Mortgage (NMLS#2094254)
105 E Center St, Manchester, CT 06040
(860) 798-5013
davidmazzola.my1003app.com
Tye Carrington - AnnieMac Home Mortgage
873 Main St, Manchester, CT 06040
(203) 252-4339
tyecarrington.annie-mac.com
What Does a Reverse Mortgage Specialist in Manchester Cost?
Typical costs for a reverse mortgage specialist in Connecticut 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 search. Total closing costs often range from 2,000 to 5,000 dollars. 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 eligibility requirements for a reverse mortgage in Manchester Connecticut?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The property must be your primary residence. Connecticut law also requires a financial assessment to ensure you can pay property taxes and insurance.
How does Connecticut law affect reverse mortgage proceeds?
Connecticut does not tax reverse mortgage proceeds as income. However, the loan must be repaid when you sell the home, move out permanently, or pass away. The state also has a mandatory counseling session that must occur at least 10 days before you sign any loan documents.