Find Reverse Mortgage Specialists Near You in Village of Clarkston, MI
Directory of reverse mortgage specialists in Village of Clarkston, Michigan. Verify credentials with the state state mortgage licensing authority before hiring.
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
State Mortgage Licensing Authority of Michigan before hiring.
Showing 14 reverse mortgage specialists in Village of Clarkston, 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.
What Does a Reverse Mortgage Specialist in Village of Clarkston Cost?
Typical costs for a reverse mortgage specialist in Michigan include an origination fee of up to 2 percent of the home value capped at 6000 dollars. Third party costs such as appraisal title insurance and recording fees usually range from 2000 to 5000 dollars. Michigan also charges a state specific mortgage tax of 0.75 percent on the loan amount. 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 age requirements for a reverse mortgage in Village of Clarkston Michigan?
The minimum age is 62 for all borrowers listed on the title. Michigan does not have a state specific age exception so federal HUD rules apply. The youngest borrower must meet this requirement.
Do I need counseling before getting a reverse mortgage in Michigan?
Yes Michigan law requires all borrowers to complete a HUD approved counseling session before submitting a loan application. The session explains loan terms costs and alternatives. The counselor must be independent of the lender.
Can I lose my home with a reverse mortgage in Clarkston Michigan?
You can lose your home if you fail to pay property taxes or homeowners insurance or if you move out for more than 12 months. Michigan law also allows the lender to foreclose if the home is not maintained. You must keep the home in good condition.