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 10 reverse mortgage specialists in Monroe, 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.
American Financial Network, Inc. - Monroe, MI
15489 S Telegraph Rd b, Monroe, MI 48161
7148314578
Union Home Mortgage
826 S Monroe St, Monroe, MI 48161
7344573944
OneMain Financial
1289 N Telegraph Rd, Monroe, MI 48162
7344571046
Chad Fuller at CrossCountry Mortgage
15268 S. Monroe St Suite 101, Monroe, MI 48161
7342824088
Trowbridge Financial Services
15115 S Dixie Hwy, Monroe, MI 48161
7342400115
Union Home Mortgage - Jacob Boes
826 S Monroe St, Monroe, MI 48161
7346520733
Carl Dingledine at CrossCountry Mortgage
15268 S Monroe St Suite 101, Monroe, MI 48161
7347551064
Marc Fuller at CrossCountry Mortgage
7494 N Telegraph Rd, Monroe, MI 48162
7342341932
Union Home Mortgage - Kristian Bezeau NMLS #141192
15479 S Telegraph Rd, Monroe, MI 48161
7343492001
Mortgage 1 - Monroe
3 S Monroe St, Monroe, MI 48161
7342560123
What Does a Reverse Mortgage Specialist in Monroe Cost?
Typical costs for a reverse mortgage specialist in Michigan include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent upfront plus 0.5 percent annually, and third-party costs like appraisal and title fees totaling 2,000 to 5,000 dollars. Actual costs vary by loan amount and lender. 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 Monroe Michigan?
Borrowers must be at least 62 years old. If married, the younger spouse must also be 62 to be a co-borrower. Michigan law follows federal HECM age rules.
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 agency. This session must happen before you submit your application.
Can I lose my home with a reverse mortgage in Monroe?
You can lose your home if you fail to pay property taxes, homeowners insurance, or maintain the property. Michigan law allows a 12-month grace period to cure a default before foreclosure starts.