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Browse reverse mortgage specialists serving Streetsboro, Ohio. Contact information and addresses listed below.
2 agents listed
Updated May 2026
Streetsboro, OH
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 Ohio before hiring.
Showing 2 reverse mortgage specialists in Streetsboro, OH
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Transformation Home Loans, LLC
333 Jade Blvd, Streetsboro, OH 44241
3302855043
Thomas Hall at Coast One Mortgage
9293 OH-43 Suite B&D, Streetsboro, OH 44241
3305875455
A reverse mortgage specialist in Streetsboro, Ohio can help homeowners aged 62 and older convert home equity into tax-free funds. Ohio law requires mandatory counseling from a HUD-approved agency before a Home Equity Conversion Mortgage (HECM) can be issued. This process allows seniors to stay in their homes while accessing cash for expenses or repairs.
What Does a Reverse Mortgage Specialist in Streetsboro Cost?
Typical costs for a reverse mortgage in Ohio include an origination fee of up to 2% of the first $200,000 of home value plus 1% of the amount above $200,000. Third-party fees such as appraisal (typically $400 to $600), title search, and recording fees can total $2,000 to $5,000. HUD requires mandatory counseling which costs about $125 to $250. These costs are usually financed into the loan. 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 eligibility requirements for a reverse mortgage in Streetsboro Ohio?
You must be at least 62 years old and own your home outright or have a small mortgage balance. The property must be your primary residence and meet HUD property standards. A financial assessment is also required to ensure you can pay property taxes and insurance.
How does Ohio law affect reverse mortgage proceeds?
Ohio does not tax reverse mortgage proceeds as income, and they do not affect Social Security or Medicare benefits. However, funds may impact Medicaid eligibility if they are not spent within the same month. You must continue to pay property taxes and homeowners insurance.
What happens to the reverse mortgage when the borrower dies in Ohio?
When the last borrower dies, the loan becomes due. Heirs have 30 days to decide to pay off the loan or sell the home. Ohio law allows a 6-month extension if needed. If the home is sold for less than the loan balance, the Federal Housing Administration covers the difference.
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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 Ohio.