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Looking for a reverse mortgage specialist in Dearborn? Review the directory below to compare your options.
16 agents listed
Updated May 2026
Dearborn, 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 16 reverse mortgage specialists in Dearborn, 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.
A reverse mortgage specialist in Dearborn Michigan can help homeowners aged 62 and older convert part of their home equity into tax-free funds. In Michigan reverse mortgages are regulated under the Michigan Mortgage Lenders Act and require a mandatory counseling session with a HUD-approved counselor. Dearborn residents often use these loans to supplement retirement income or cover home repairs while remaining in their homes.
What Does a Reverse Mortgage Specialist in Dearborn Cost?
Typical costs for a reverse mortgage in Michigan include an origination fee up to 2 percent of the first 200000 of home value plus 1 percent of the amount over 200000. Third-party fees such as appraisal title insurance and recording fees usually range from 2000 to 5000. The upfront mortgage insurance premium is 2 percent of the appraised value and annual premiums are 0.5 percent of the loan balance. These costs are often rolled into the loan amount. 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 Dearborn Michigan?
Borrowers must be at least 62 years old. If there are multiple borrowers all must meet this age requirement. The home must be the primary residence of all borrowers.
Do I need to complete counseling before getting a reverse mortgage in Michigan?
Yes Michigan law requires all reverse mortgage applicants to attend a counseling session with a HUD-approved counselor. This session explains the loan terms costs and alternatives. The counselor must be independent from the lender.
Can I lose my home with a reverse mortgage in Dearborn?
Yes you can lose your home if you fail to pay property taxes homeowners insurance or maintain the property. Michigan law also requires that the home remain your primary residence. If you move out for more than 12 consecutive months the loan becomes due.
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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.