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Harbor Mortgage Solutions

Mortgage Services for Massachusetts and Rhode Island

  • Conventional Mortgages
    • Buying a Home
    • Home Equity Financing
    • Refinancing Your Home
  • Reverse Mortgages
    • Types of Reverse Mortgages
    • Reverse Mortgages for Condominium Owners
    • Reverse Mortgage Information
    • Navigating the Reverse Mortgage Process
    • Reverse Mortgage Rules
    • Reverse Mortgage Myths
  • Resources
    • Blog
    • Webinars
    • FAQs
    • Glossary of Terms
  • About Us
    • Meet Our Team
    • Professional Network
  • Conventional Mortgages
    • Buying a Home
    • Home Equity Financing
    • Refinancing Your Home
  • Reverse Mortgages
    • Types of Reverse Mortgages
    • Reverse Mortgages for Condominium Owners
    • Reverse Mortgage Information
    • Navigating the Reverse Mortgage Process
    • Reverse Mortgage Rules
    • Reverse Mortgage Myths
  • Resources
    • Blog
    • Webinars
    • FAQs
    • Glossary of Terms
  • About Us
    • Meet Our Team
    • Professional Network

Reverse Mortgage Now an Option for More Condominium Owners

Federal and state policy changes have expanded and simplified reverse mortgage financing for Massachusetts condominium owners.

Now, it’s easier for condominium owners to be eligible for HUD/FHA federally insured
Home Equity Conversion Mortgage (HECM) financing as well as have access to Proprietary (jumbo) reverse mortgage funding opportunities.

FHA policy revisions enable certain individual condominium units to be eligible for FHA mortgage financing even if the condominium project is not FHA approved. Further, it enables approval for more mixed-use projects, and extends the recertification requirement for approved projects from two to three years.

In addition, the Massachusetts Division of Banks has approved new Proprietary (jumbo) reverse mortgages for Massachusetts home and condominium owners. These programs provide loan amounts up to $1,500,000 with terms substantially similar to the federally insured HECM with low and no cost options, and without the need for FHA project approval.

Determining if a reverse mortgage is a good fit depends on individual situations and circumstances, and consideration of near and longer term financial and personal factors.

Interested learning more about reverse mortgage and your eligibility as a condominium owner? As qualified and knowledgeable Certified Reverse Mortgage Professionals (CRMPs), we focus on education first – objectively assessing your situation and explaining the choices.

Submit this form today to arrange a private consultation.


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Harbor Mortgage Solutions, Inc.
100 Grandview Road, Suite 105
Braintree, MA 02184

781-843-5553 Local
781-843-6661 Fax
800-599-8700 Toll free

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NMLS #2846
Massachusetts License MB2846
Rhode Island License 20041821LB

We are a mortgage broker. We do not make loans – we arrange residential mortgage loans through our diverse network of national and local banks and other institutional lenders.

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