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Looking for a reverse mortgage specialist in Traverse City? Review the directory below to compare your options.
15 agents listed
Updated May 2026
Traverse City, 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 15 reverse mortgage specialists in Traverse City, 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.
F5 Mortgage LLC
1283 Farmington Dr, Traverse City, MI 49696
2482784043
OneTrust Home Loans - Northern Michigan
697 Hannah Ave Ste C, Traverse City, MI 49686
2314865446
Treadstone Funding
310 W Front St # 207, Traverse City, MI 49684
2312835610
45 North Lending
236 1/2 E Front St Suite 2, Traverse City, MI 49684
2316491992
Versatile Mortgage L.L.C.
810 S Garfield Ave A, Traverse City, MI 49686
2319462202
Arch North at CrossCountry Mortgage
434 E Front St, Traverse City, MI 49686
2313464110
Corey Phelps at Rate (NMLS #139344)
423 E Eighth St suite b, Traverse City, MI 49686
2313607283
The Reverse Mortgage Center LLC
Traverse City, MI 49686
2312180307
Marty Siklich - NMLS ID 137305
1212 Veterans Dr Ste 203, Traverse City, MI 49684
2319329486
Todd Jarrold - OneTrust Home Loans Northern Michigan
697 Hannah Ave Ste C, Traverse City, MI 49686
5174909364
Traverse City Mortgage
314 S Union St, Traverse City, MI 49684
2319339400
Advanced Financial Group, Inc.
1925 Coral Ln, Traverse City, MI 49686
2319228993
Rate
423 E Eighth St suite b, Traverse City, MI 49686
7739695639
Lee Miller, Mortgage Loan Originator, LMCU, NMLS# 564684
310 E Front St, Traverse City, MI 49684
2319326289
Churchill Mortgage - Traverse City
1212 Veterans Dr Ste 203, Traverse City, MI 49684
2312378229
A reverse mortgage specialist in Traverse City Michigan helps homeowners aged 62 and older convert home equity into cash without monthly payments. Michigan law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage (HECM). Specialists guide clients through the process including eligibility assessment and loan terms specific to northern Michigan properties.
What Does a Reverse Mortgage Specialist in Traverse City Cost?
Typical costs for a reverse mortgage in Michigan include an origination fee up to 6 percent of the home value with a cap of 6000 dollars. Third-party fees such as appraisal title insurance and recording fees range from 1000 to 3000 dollars. The upfront mortgage insurance premium is 2 percent of the home value. Annual mortgage insurance premiums are 0.5 percent of the loan balance. These costs can be financed into the loan. 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 eligibility requirements for a reverse mortgage in Traverse City?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The property must be your primary residence and meet FHA standards. Michigan law also requires you to attend a counseling session with a HUD-approved agency before applying.
How does a reverse mortgage affect my heirs in Michigan?
Heirs can repay the loan balance or sell the home to satisfy the debt. Michigan law gives heirs 30 days after the borrower dies to decide. If they sell the home any remaining equity goes to the estate.
Are reverse mortgage proceeds taxable in Michigan?
No reverse mortgage proceeds are not considered income for federal or Michigan state tax purposes. However interest on the loan is not tax deductible until the loan is paid off. Consult a tax professional for your specific situation.
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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.