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 4 reverse mortgage specialists in Winthrop, 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.
Ardi Kotoni - MSA Mortgage, LLC - Winthrop, MA
354 Main St, Winthrop, MA 02152
7815021161
MSA Mortgage, LLC
354 Main St, Winthrop, MA 02152
7812457700
New Fed Mortgage - Winthrop - Al Petrilli. - NMLS#1881
550 Pleasant St #109r, Winthrop, MA 02152
6179015232
Rob Deeb, MSA Mortgage, LLC
354 Main St, Winthrop, MA 02152
6172571977
What Does a Reverse Mortgage Specialist in Winthrop 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 and recording. Total closing costs often range from 3000 to 8000 dollars depending on the property value and loan type. These costs can be financed into the loan. 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 does a reverse mortgage specialist in Winthrop do?
A reverse mortgage specialist in Winthrop helps homeowners aged 62 and older understand and apply for a Home Equity Conversion Mortgage. They explain loan terms, costs, and how the loan must be repaid. Specialists do not provide legal advice but coordinate with attorneys and counselors as needed.
Are there Massachusetts rules for reverse mortgages?
Yes, Massachusetts requires that borrowers receive independent counseling from a HUD-approved agency before closing. The state also mandates a three-day right of rescission after signing. Lenders must follow Massachusetts consumer protection laws regarding loan disclosures and foreclosure procedures.
How does a reverse mortgage affect Winthrop property taxes?
A reverse mortgage does not change property tax obligations. The borrower must continue to pay property taxes to the Town of Winthrop. Failure to pay taxes can lead to default and possible foreclosure, even if the loan is current.