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Directory of reverse mortgage specialists in Corrales, New Mexico. Verify credentials with the state mortgage licensing authority before hiring.
2 agents listed
Updated May 2026
Corrales, NM
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 New Mexico before hiring.
Showing 2 reverse mortgage specialists in Corrales, NM
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Davis Mortgage Ltd.
4313 Corrales Rd Suite 6, Corrales, NM 87048
5059991010
Spence Lewallen - NMLS #779940
4313 Corrales Rd Suite 6, Corrales, NM 87048
5052632000
A reverse mortgage specialist in Corrales, New Mexico can help homeowners aged 62 and older convert home equity into tax-free funds. New Mexico law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage. Corrales residents often use these loans to supplement retirement income or cover home repairs.
What Does a Reverse Mortgage Specialist in Corrales Cost?
Typical costs for a reverse mortgage in New Mexico include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees such as appraisal and title search totaling 500 to 1,500 dollars. These costs vary by lender and loan type. 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 is a reverse mortgage specialist in Corrales?
A reverse mortgage specialist is a professional licensed in New Mexico who helps seniors understand and apply for reverse mortgages. They explain loan terms, costs, and eligibility requirements specific to New Mexico law.
What are the New Mexico requirements for a reverse mortgage?
Borrowers must be at least 62 years old, own their home outright or have a small mortgage balance, and live in the home as their primary residence. New Mexico law also mandates a HUD-approved counseling session before the loan can proceed.
How does a reverse mortgage affect my heirs in New Mexico?
Heirs can keep the home by paying off the loan balance or selling the property. Under New Mexico law, the loan is due when the last borrower dies, sells the home, or moves out for more than 12 months.
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BeforeMortgageUSA.com is not a mortgage referral service, or financial advice provider. No broker-client relationship is formed by submitting a form or using this site. We do not endorse, recommend, or vouch for the qualifications of any broker. Past results do not guarantee future outcomes. Each case is different. Verify broker credentials with your state mortgage licensing authority before hiring.
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 New Mexico.