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Browse reverse mortgage specialists serving Salem, Virginia. Contact information and addresses listed below.
6 agents listed
Updated May 2026
Salem, VA
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 Virginia before hiring.
Showing 6 reverse mortgage specialists in Salem, VA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Chris Diamond, NMLS#1634371 - Atlantic Bay Mortgage Group
1611 E Main St, Salem, VA 24153
5402046490
Atlantic Bay Mortgage Group
1621 E Main St, Salem, VA 24153
5409860270
Valley Tree Mortgage DGN Llc
9 Wildwood Rd, Salem, VA 24153
5404440577
Getra Hanes at Atlantic Bay Mortgage Group
1621 E Main St, Salem, VA 24153
5403531559
Virginia Mountain Mortgage | Salem
231 S College Ave, Salem, VA 24153
5405915621
Mortgage Loans - Salem
3625 McDaniel Dr, Salem, VA 24153
8443841744
A reverse mortgage specialist in Salem, Virginia helps homeowners aged 62 and older convert home equity into cash. Virginia law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage. Local specialists guide clients through the process and explain how a reverse mortgage affects Virginia estate planning and Medicaid eligibility.
What Does a Reverse Mortgage Specialist in Salem Cost?
Typical costs for a reverse mortgage in Virginia include an origination fee (up to $6,000), a mortgage insurance premium (2% of the home value upfront plus 0.5% annually), and third-party fees for appraisal, title search, and recording. Total closing costs often range from $5,000 to $15,000. 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 age requirements for a reverse mortgage in Salem Virginia?
Borrowers must be at least 62 years old. If the home is owned jointly, all owners must meet this age requirement. This follows federal HUD rules for Home Equity Conversion Mortgages.
Is counseling required before getting a reverse mortgage in Virginia?
Yes, Virginia law requires all borrowers to complete a counseling session with a HUD-approved counselor. This session must happen before you can apply for the loan. The counselor explains the costs, benefits, and alternatives.
What property types qualify for a reverse mortgage in Salem Virginia?
Qualifying properties include single-family homes, FHA-approved condominiums, and manufactured homes that meet HUD standards. The property must be your primary residence. Second homes and investment properties do not qualify.
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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 Virginia.