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Compare Reverse Mortgage Specialists in Narragansett, RI

Browse reverse mortgage specialists serving Narragansett, Rhode Island. Contact information and addresses listed below.

3 agents listed
Updated June 2026
Narragansett, RI
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 Rhode Island before hiring.
Showing 3 reverse mortgage specialists in Narragansett, RI Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Jeffrey Kosiorek- Mortgage Loan Officer (NMLS #22792)
140 Point Judith Rd Unit 45C, Narragansett, RI 02882
(401) 692-1108 revolutionmortgage.com
Seacoast Mortgage Corporation
3 Atlantic Ave, Narragansett, RI 02882
(401) 782-1012 seacoastmortgage.com
Revolution Mortgage
140 Point Judith Rd Unit 45C, Narragansett, RI 02882
(401) 238-7100 revolutionmortgage.com

A reverse mortgage specialist in Narragansett, Rhode Island helps homeowners aged 62 and older convert home equity into tax-free funds without selling the property. Rhode Island law requires borrowers to complete a HUD-approved counseling session before applying for a Home Equity Conversion Mortgage (HECM). Local specialists understand Narragansett coastal property values and can guide you through the unique requirements of Rhode Island lending regulations.

What Does a Reverse Mortgage Specialist in Narragansett Cost?

Typical costs for a reverse mortgage in Rhode Island 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 (USD 400 to USD 800), title search (USD 200 to USD 500), and recording fees (USD 50 to USD 150). Total closing costs often range from USD 5,000 to USD 10,000. 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 Narragansett?
Borrowers must be at least 62 years old and own the home as a primary residence. The property must be a single-family home, a 2-4 unit property with one unit occupied by the borrower, or a HUD-approved condominium. Rhode Island law does not impose additional age or residency limits beyond federal HECM rules.
Are reverse mortgage proceeds taxable in Rhode Island?
No, reverse mortgage proceeds are not considered income for federal or Rhode Island state tax purposes. The funds are a loan advance, not taxable income. However, interest on the loan is not deductible until the loan is repaid.
What happens to a reverse mortgage if the borrower moves into a nursing home in Rhode Island?
If the borrower leaves the home for more than 12 consecutive months due to medical care, the loan becomes due and payable. Rhode Island law does not extend this federal requirement. The borrower or heirs must sell the home or repay the loan to avoid foreclosure.

Reverse Mortgage Specialists in Other Rhode Island Cities

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About Our Listings

Brokers listed on BeforeMortgageUSA.com are compiled from publicly available directories, state 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 State Mortgage Licensing Authority of Rhode Island.

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