Reverse Mortgage Specialist Salaries in the United States
How Much Does a Reverse Mortgage Specialist Make?
Updated March 26, 2024
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- Alaska
- Alabama
- Arkansas
- Arizona
- California
- Colorado
- Connecticut
- District of Columbia
- Delaware
- Florida
- Georgia
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- Iowa
- Idaho
- Illinois
- Indiana
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- Maryland
- Maine
- Michigan
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Individually reported data submitted by users of our website
Low Confidence
$49,575/yr
Average Base Pay
Low $43,501
Average $49,575
High $56,104
The average salary for Reverse Mortgage Specialist is $49,575 per year in the United States.
Related Job Titles to Reverse Mortgage Specialist
Similar Job Salaries to Reverse Mortgage Specialist by Company
Loading results...
| Company | average base salary in (usd) | range |
|---|---|---|
|
Mutual of Omaha Mortgage
Reverse Mortgage Originator Development Program
|
$129,383/yr
|
RANGE: $103,474 - $155,293
|
What Does a Reverse Mortgage Specialist Do?
Reverse mortgages can function as tools for debt consolidation, mortgage repayment, home repair funding or whatever the borrower desires, and while they can come with significant costs and fees, reverse mortgages can help borrowers maintain more liquidity of their assets.
Updated December 21, 2021
A reverse mortgage comes with a significant risk of foreclosure if you are unable to keep up with the property taxes associated with your home, so reverse mortgages should be entered into only with careful consideration.
Updated December 21, 2021
However, in some cases, that fee can be rolled into the reverse mortgage loan to be repaid at the end of the loan’s term.
Updated December 21, 2021
Some lenders provide these loans with “simple” rather than the traditional “compound” interest rate structures, which means that some single-purpose reverse mortgage borrowers are not required to pay interest on their interest.
Updated December 20, 2021
Though traditional HECM reverse mortgages are heavily regulated by the FHA, there are still plenty of enterprising individuals who find ways to take advantage of, or outright rob the elderly using false promises regarding products like reverse mortgages.
Updated December 18, 2021
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Explore JobArchitectFrequently Asked Questions About a Reverse Mortgage Specialist Salaries
What is the average of a Reverse Mortgage Specialist in the United States?
The Reverse Mortgage Specialist salary range is from $43,501 to $56,104, and the average Reverse Mortgage Specialist salary is $49,575/year in the United States.
The Reverse Mortgage Specialist's salary will change in different locations.
Which location pays the highest Reverse Mortgage Specialist salary in the United States?
The Reverse Mortgage Specialist salary in San Jose, CA is $62,216
which is the highest in the US.
What kinds of reasons will influence the Reverse Mortgage Specialist's salary?
Besides the location, employees' education degree, related skills, and work experience also will influence the salary.
Try to improve your skills and experience to get a higher salary for the position of Reverse Mortgage Specialist.
What is the growth rate of the Reverse Mortgage Specialist's salary?
If you are thinking of becoming a Reverse Mortgage Specialist or planning the next step in your career, find the detailed salary report of a Reverse Mortgage Specialist.
Recent Salary Report
Below are the most recent Reverse Mortgage Specialist salary reports. Employer name has been removed to protect anonymity.
$20
Hourly
A Reverse Mortgage Specialist in Gastonia, NC reported making $20 per hour
Gastonia, NC
7,6 - 15,000 employees
Part-Time
Company - Public
$22
Hourly
A Reverse Mortgage Specialist in Vineland, NJ reported making $22 per hour
Vineland, NJ
3,000 - 7,6 employees
Part-Time
Company - Public
$47,887
Yearly
A Reverse Mortgage Specialist in Minnetonka, MN reported making $47,887 per year
Minnetonka, MN
100 - 200 employees
Full-Time
Company - Private
$4,728
Monthly
A Reverse Mortgage Specialist in Saint Cloud, MN reported making $4,728 per month
Saint Cloud, MN
1,000 - 3,000 employees
Full-Time
Company - Public
$50,734
Yearly
A Reverse Mortgage Specialist in Levittown, NY reported making $50,734 per year
Levittown, NY
200 - 6 employees
Full-Time
Company - Private
$40,127
Yearly
A Reverse Mortgage Specialist in Corvallis, OR reported making $40,127 per year
Corvallis, OR
6 - 1,000 employees
Full-Time
Company - Private
