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 Massachusetts before hiring.
Showing 10 reverse mortgage specialists in Fall River, MA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Troy City Mortgage
1777 Pleasant St, Fall River, MA 02723
5082075864
Kevin Oliveira, Troy City Mortgage
1777 Pleasant St, Fall River, MA 02723
7745261734
Thomas Durkin
10 N Main St, Fall River, MA 02720
5086761800
Fairway Independent Mortgage Corporation-Fall River, MA Branch
139 S Main St Suite 313, Fall River, MA 02721
4016636889
Gary Corvelo - FAIRWAY Home Mortgage
139 S Main St, Fall River, MA 02721
7746445769
Norcom Mortgage
1 N Main St, Fall River, MA 02720
5086720005
Gate City Mortgage
1107 Pleasant St, Fall River, MA 02723
5089510734
Fairway Independent Mortgage Corporation
1565 N Main St Suite 302, Fall River, MA 02720
5086799884
Rob Bettencourt | Fairway Independent Mortgage Corporation Co-Branch Manager
1565 N Main St Suite 302, Fall River, MA 02720
5086799884
Total Mortgage Fall River NMLS #2347643
580 Eastern Ave First Floor, Fall River, MA 02723
5086496590
What Does a Reverse Mortgage Specialist in Fall River Cost?
In Massachusetts, reverse mortgage costs include an origination fee 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. Typical total costs range from 3,000 to 8,000 dollars. Costs vary by lender 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 Fall River Massachusetts?
Borrowers must be at least 62 years old. If you have a spouse under 62, Massachusetts law provides protections under the HECM program. The specialist can explain how non-borrowing spouses retain rights after the borrower passes away.
Do I need counseling before getting a reverse mortgage in Massachusetts?
Yes. Federal law requires all borrowers to complete a counseling session with a HUD-approved counselor. Massachusetts also mandates that the counselor explain state-specific rules about property taxes and foreclosure timelines.
How does a reverse mortgage affect my heirs in Fall River?
Heirs can repay the loan by selling the home or using other funds. Massachusetts law gives heirs 12 months after the borrower dies to decide. If the loan balance exceeds the home value, heirs are not required to pay the difference.