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Find Reverse Mortgage Specialists in Sturbridge, MA
Directory of reverse mortgage specialists in Sturbridge, Massachusetts. Verify credentials with the state mortgage licensing authority before hiring.
3 agents listed
Updated May 2026
Sturbridge, MA
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 3 reverse mortgage specialists in Sturbridge, 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.
Rick John Simoneau | Fairway Independent Mortgage Corporation Branch Sales Manager
49 Main St Unit D Offices 4, Sturbridge, MA 01566
7742443260
Northpoint Mortgage, Inc.
198 Charlton Rd 2nd Floor Suite #4, Sturbridge, MA 01566
5083470010
Residential Mortgage Services, Inc.
139 Main St, Sturbridge, MA 01566
8606400753
A reverse mortgage specialist in Sturbridge, Massachusetts can help homeowners aged 62 and older convert home equity into tax-free funds. Massachusetts law requires that borrowers receive third-party counseling from a HUD-approved agency before applying. Specialists guide clients through the HECM program, which is the only federally insured reverse mortgage option available in the state.
What Does a Reverse Mortgage Specialist in Sturbridge Cost?
Typical costs for a reverse mortgage in Massachusetts 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, title search, and counseling. Total closing costs often range from 2,000 to 8,000 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 Sturbridge?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The home must be your primary residence and meet HUD property standards. You also need to complete a counseling session with a HUD-approved counselor.
Are reverse mortgage proceeds taxable in Massachusetts?
No, reverse mortgage proceeds are not considered income by the IRS or the Massachusetts Department of Revenue. They do not affect Social Security or Medicare benefits. However, they may impact need-based programs like MassHealth.
What happens to the reverse mortgage when the borrower moves or passes away?
The loan becomes due when the last borrower dies, sells the home, or moves out for more than 12 months. Heirs have 30 days to decide whether to pay off the loan or sell the home. Massachusetts law provides a six-month extension for heirs to arrange financing.
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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 Massachusetts.