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Find Reverse Mortgage Specialists Near You in Chelsea, MI
Looking for a reverse mortgage specialist in Chelsea? Review the directory below to compare your options.
5 agents listed
Updated May 2026
Chelsea, MI
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 Michigan before hiring.
Showing 5 reverse mortgage specialists in Chelsea, MI
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Jon Mykala
134 W Middle St # G, Chelsea, MI 48118
7344330922
Parker Mortgage Group
1101 S Main St Ste 151, Chelsea, MI 48118
8559355626
Dart Bank Chelsea Home Loan Center
134 W Middle St # G, Chelsea, MI 48118
7344330922
First Equity Residential Mortgage Inc. (NMLS#115585)
310 N Main St STE 201, Chelsea, MI 48118
7344750270
AmeriFirst Home Mortgage - Chelsea, MI
310 N Main St STE 203, Chelsea, MI 48118
2693244120
A reverse mortgage specialist in Chelsea Michigan helps homeowners aged 62 and older access home equity without monthly payments. Michigan law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage HECM. Local specialists can guide you through the process and explain how a reverse mortgage affects your property taxes and estate.
What Does a Reverse Mortgage Specialist in Chelsea Cost?
Typical costs for a reverse mortgage in Michigan include an origination fee of up to 2 percent of the home value with a cap of 6000 dollars. Closing costs such as appraisal title insurance and recording fees range from 2000 to 5000 dollars. The upfront mortgage insurance premium is 2 percent of the appraised value. These 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 Chelsea Michigan?
You must be at least 62 years old to qualify for a reverse mortgage in Michigan. All borrowers listed on the title must meet this age requirement. The home must be your primary residence.
Do I need counseling before getting a reverse mortgage in Michigan?
Yes Michigan law requires you to complete a counseling session with a HUD-approved counselor before you can apply for a reverse mortgage. The counselor explains the loan terms costs and alternatives. You receive a certificate that is valid for 180 days.
Can a reverse mortgage affect my Michigan property taxes?
Yes you must continue to pay property taxes and homeowners insurance to keep the reverse mortgage in good standing. Michigan law does not exempt reverse mortgage borrowers from property tax obligations. Failure to pay taxes can lead to loan default and foreclosure.
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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 Michigan.