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Compare Reverse Mortgage Specialists in Westerly, RI
Compare reverse mortgage specialists in Westerly. Review contact information and insurance categorys before you decide.
4 agents listed
Updated May 2026
Westerly, 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 Rhode Island before hiring.
Showing 4 reverse mortgage specialists in Westerly, 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.
Deana Bobbin at Guaranteed Rate Affinity
56 Wells St, Westerly, RI 02891
4013784467
Jill Kass at Prosperity Home Mortgage - Shelton
224 Post Rd, Westerly, RI 02891
4016374800
Washington Trust
126 Franklin St, Westerly, RI 02891
4013481367
Laudone Financial
128 Main St, Westerly, RI 02891
4016374820
A reverse mortgage specialist in Westerly Rhode Island can help homeowners aged 62 and older access home equity without monthly payments. Rhode Island law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage (HECM). Local specialists guide clients through the unique rules for condominiums and single-family homes in Washington County.
What Does a Reverse Mortgage Specialist in Westerly Cost?
Typical costs for a reverse mortgage specialist in Rhode Island include an origination fee of up to $6,000 and a mortgage insurance premium of 2% of the home value. Closing costs usually range from $2,000 to $5,000. Appraisal fees in Washington County average $500 to $700. These costs can be 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 age requirements for a reverse mortgage in Westerly Rhode Island?
Borrowers must be at least 62 years old. If married the younger spouse must also be 62 unless the loan is structured with a non-borrowing spouse option allowed under Rhode Island law.
Do I need counseling to get a reverse mortgage in Rhode Island?
Yes Rhode Island requires HUD-approved counseling for all reverse mortgage applicants. The session costs around $125 to $150 and can be done in person or by phone. A specialist can provide a list of approved counselors in the Westerly area.
Can I get a reverse mortgage on a condo in Westerly Rhode Island?
Yes but the condominium complex must be FHA-approved. Many Westerly condos near the coast meet this requirement. Your specialist will verify the property eligibility before proceeding.
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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 Rhode Island.