Reverse Mortgage Specialists in Fulton, MD

A reverse mortgage specialist in Fulton, Maryland helps homeowners aged 62 and older convert home equity into tax-free funds without monthly payments. Maryland law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage (HECM). Fulton residents benefit from specialists who understand local property values and the state's non-recourse protections, which limit liability to the home's value at sale.

What Does a Reverse Mortgage Specialist in Fulton Cost?

Typical costs for a reverse mortgage specialist in Maryland include an origination fee of up to $6,000, a mortgage insurance premium of 2% of the home value, and third-party fees for appraisal, title search, and recording. These costs can total $8,000 to $15,000, but they are often financed into the loan. Maryland also charges a state recordation tax of about $5.60 per $1,000 of the loan amount. 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.

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