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 2 reverse mortgage specialists in Wellesley, 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.
Charlie Gomes NMLS #718375 The Washington Trust Company
62 Walnut St, Wellesley, MA 02481
4012187791
Suzy Ferrantino
310 B Washington St, Wellesley, MA 02481
5085621332
What Does a Reverse Mortgage Specialist in Wellesley Cost?
Typical costs for a reverse mortgage specialist in Massachusetts 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, title search, and recording. These costs can range from 3000 to 8000 dollars depending on the property value 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 eligibility requirements for a reverse mortgage in Wellesley 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. Massachusetts law also requires you to attend a HUD-approved counseling session before you can apply for a reverse mortgage.
How does a reverse mortgage affect my property taxes in Wellesley?
You remain responsible for paying property taxes and homeowners insurance. Massachusetts offers a property tax deferral program for seniors, but using a reverse mortgage to pay taxes could affect your eligibility. A specialist can review your specific situation.