Reverse Mortgage Specialists in Marshfield, MA
Directory of reverse mortgage specialists in Marshfield, Massachusetts. Verify credentials with the state state mortgage licensing authority before hiring.
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 Massachusetts before hiring.
Showing 8 reverse mortgage specialists in Marshfield, 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.
A reverse mortgage specialist in Marshfield Massachusetts helps homeowners aged 62 and older convert home equity into tax-free funds without selling their home. Massachusetts law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage HECM. Marshfield residents can use these funds for home repairs healthcare costs or supplementing retirement income.
What Does a Reverse Mortgage Specialist in Marshfield Cost?
Typical costs for a reverse mortgage in Massachusetts include an origination fee up to $6,000 an appraisal fee around $500 and third-party closing costs ranging from $2,000 to $5,000. The upfront mortgage insurance premium is 2 percent of the home value. Annual mortgage insurance premiums are 0.5 percent of the loan balance. These costs can be financed into the loan so you pay little upfront. 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 Marshfield Massachusetts?
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 and meet HUD property standards. Massachusetts does not have additional state-specific eligibility rules beyond federal HECM requirements.
How much can I borrow with a reverse mortgage in Marshfield?
The amount depends on your age the appraised value of your home and current interest rates. In Massachusetts the maximum claim amount for a HECM is $1,089,300 as of 2024. Older borrowers typically qualify for a larger percentage of their home equity.
What happens to my reverse mortgage if I move out of Marshfield or sell my home?
If you sell your home or permanently move out the loan becomes due and payable. You or your heirs must repay the loan balance plus interest and fees. Any remaining equity after repayment goes to you or your estate.