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Directory of reverse mortgage specialists in Vermilion, Ohio. Verify credentials with the state mortgage licensing authority before hiring.
4 agents listed
Updated May 2026
Vermilion, 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 4 reverse mortgage specialists in Vermilion, 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.
KeyBank
4700 Liberty Ave, Vermilion, OH 44089
4409846373
Edward Jones - Financial Advisor: Paul Hoffman
1605 OH-60 Suite 5, Vermilion, OH 44089
4409639198
Edward Jones - Financial Advisor: Terry L Caudill
4238 Liberty Ave, Vermilion, OH 44089
4409634273
Edward Jones - Financial Advisor: Tom Chaplin
4500 Liberty Ave Stes 1 And 2, Vermilion, OH 44089
4409678092
Reverse mortgage specialists in Vermilion, Ohio help seniors access home equity through FHA-insured Home Equity Conversion Mortgages (HECMs). Ohio law requires borrowers to complete mandatory counseling from a HUD-approved agency before applying. These specialists guide clients through the process, including understanding loan terms and repayment obligations.
What Does a Reverse Mortgage Specialist in Vermilion Cost?
Typical costs for a reverse mortgage in Ohio include an origination fee of up to 2% of the home value (capped at $6,000), a mortgage insurance premium of 2% of the appraised value, and third-party fees for appraisal, title search, and recording (often $500 to $1,500). Counseling fees are usually $125 to $150. Total closing costs generally range from $3,000 to $8,000. 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 does a reverse mortgage specialist in Vermilion Ohio do?
A reverse mortgage specialist helps Ohio homeowners aged 62 and older understand and apply for HECM loans. They explain eligibility, loan limits, and how the loan affects estate planning. Specialists also coordinate with HUD-approved counselors as required by Ohio law.
Are reverse mortgages regulated differently in Ohio?
Yes, Ohio follows federal HUD rules for HECM loans but also has state-specific disclosure requirements. Ohio law mandates that lenders provide a clear explanation of loan terms and potential risks. Borrowers must also receive counseling from a HUD-approved agency before signing.
What are the eligibility requirements for a reverse mortgage in Vermilion Ohio?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The property must be a primary residence, such as a single-family home or HUD-approved condo. Ohio law also requires proof of financial capacity to pay taxes and insurance.
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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.