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Find Reverse Mortgage Specialists Near You in Milford, MI
Directory of reverse mortgage specialists in Milford, Michigan. Verify credentials with the state mortgage licensing authority before hiring.
3 agents listed
Updated May 2026
Milford, 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 3 reverse mortgage specialists in Milford, 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.
JP Mortgage
243 San Angelo Dr, Milford, MI 48381
3139699918
At Home Lending
3673 Old Plank Rd, Milford, MI 48381
8664069887
John Adams Mortgage Company
560 N Milford Rd #1532, Milford, MI 48381
2485357073
A reverse mortgage specialist in Milford Michigan helps homeowners aged 62 and older convert part of their home equity into tax free funds. Michigan law requires borrowers to complete third party counseling from a HUD approved agency before applying. Specialists in Milford guide clients through the process from initial counseling to loan closing while explaining how property taxes and insurance obligations remain with the homeowner.
What Does a Reverse Mortgage Specialist in Milford Cost?
Typical costs for a reverse mortgage in Michigan include an origination fee up to 2 percent of the home value capped at 6000 dollars a mortgage insurance premium of 2 percent of the appraised value and third party fees for appraisal title and recording. Closing costs usually range from 3000 to 8000 dollars depending on the property value and lender. These costs can be rolled into the loan amount so no upfront payment is required. 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 age requirements for a reverse mortgage in Milford Michigan?
All borrowers on the title must be at least 62 years old. This is a federal requirement for Home Equity Conversion Mortgages HECM loans which are the most common reverse mortgage type. Michigan does not have a separate state age requirement.
Do I need counseling before getting a reverse mortgage in Michigan?
Yes Michigan law requires all reverse mortgage applicants to complete a counseling session with a HUD approved counselor. The session covers loan terms costs and alternatives. You must receive a signed certificate before your lender can process the application.
Can I lose my home with a reverse mortgage in Milford?
You can lose your home if you fail to pay property taxes or homeowners insurance or if you do not maintain the property. Michigan law requires lenders to provide a notice of default and a 30 day cure period before foreclosure can begin. Staying current on these obligations keeps the loan in good standing.
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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.