Find Reverse Mortgage Specialists in Westerly, RI
Directory of reverse mortgage specialists in Westerly, Rhode Island. Verify credentials with the state state mortgage licensing authority before hiring.
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 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.
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.