Maryland Reverse Mortgage

What is a reverse mortgage?

A reverse mortgage is a special type of loan for homeowners over the age of 62. A reverse mortgage allows homeowners to stop making mortgage payments and start receiving money for the equity that homeowners have built up in their home (generally, this equity is built through mortgage payments). This means that the money can instead be used for other purposes, like supplementing income, paying for expenses, complete home improvements, or any other purpose. Read more about reverse mortgages →

Reverse Mortgage for Maryland Residents

Increasing home values in the state of Maryland make reverse mortgages particularly desirable for seniors residing in Maryland. The National Reverse Mortgage Lenders Association recently found that homeowners 62 and older have seen their home equity increase by 3.1% in first quarter of 2017. The increase in equity allows seniors to get more money out of their reverse mortgage than they would otherwise be able to.

Finding a Reverse Mortgage Lender in Maryland

Maryland is home to many different reverse mortgage lenders that are able to provide diverse solutions. Recognizing that homeowners and financial situations are different, lenders are able to create loan packages that may be able to help you and your situation. Get a no obligation information kit for Maryland residents →

Maryland Reverse Mortgage Counselors

Prior to taking a completed loan application, seniors must complete a free reverse mortgage counseling session with an approved counselor to ensure that they understand the benefits and drawbacks to a reverse mortgage. Below is a listing of counseling agencies:

Name Agency ID Address Phone Web Site
ASIAN -AMERICAN HOMEOWNERSHIP COUNSELING INC. 80375 12320 PARKLAWN DRIVE
ROCKVILLE,  MD  20852-1726
(301) 760-7636 http://www.aa-hc.org
CECIL COUNTY HOUSING AGENCY 84087 200 CHESAPEAKE BLVD STE 1800
ELKTON,  MD  21921-6682
(410) 996-8216 http://www.ccgov.org/dept_housing/index.cfm
DRUID HEIGHTS COMMUNITY DEVELOPMENT CORP. 80763 2140 MCCULLOH ST
BALTIMORE,  MD  21217-3529
(410) 523-1350 http://www.druidheights.com
FREDERICK COMMUNITY ACTION AGENCY 81056 100 S MARKET ST
FREDERICK,  MD  21701-5527
(301) 600-1506 www.cityoffrederick.com/fcaa
GUIDEWELL FINANCIAL SOLUTIONS, A.K.A CCCS OF MARYLAND AND DELAWARE, INC 84495 2ND FLOOR
757 FREDERICK RD
BALTIMORE,  MD  21228-4500
(443) 451-1689 http://www.guidewellfs.org
GUIDEWELL FINANCIAL SOLUTIONS, INC 90302 757 FREDERICK RD, 2ND FL
BALTIMORE,  MD  21228-4500
(410) 747-2050 n/a
HARFORD COUNTY HOUSING AGENCY 80331 15 S MAIN ST STE 106
BEL AIR,  MD  21014-8723
(410) 638-3045 http://www.harfordhousing.org
HOMEFREE – U S A 80816 3RD FLOOR
6200 BALTIMORE AVENUE
RIVERDALE,  MD  20737-1054
(301) 891-8400 https://HomeFreeUSA.org
HOUSING INITIATIVE PARTNERSHIP, INC. (HIP) 81843 SUITE 555
6525 BELCREST ROAD
HYATTSVILLE,  MD  20782-2003
(301) 699-3835 www.hiphomes.org
SOUTHEAST COMMUNITY DEVELOPMENT CORPORATION 81066 SUITE 200
3323 EASTERN AVE
BALTIMORE,  MD  21224-4109
(410) 342-3234 http://www.southeastcdc.org
WASHINGTON COUNTY COMMUNITY ACTION COUNCIL (WCCAC) 81797 117 SUMMIT AVE
HAGERSTOWN,  MD  21740-5508
(301) 797-4161 http://www.wccac.org

*This list is updated periodically. It is recommended to check with the HUD website for any other companies.

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