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Find Reverse Mortgage Specialists Near You in Amherst, NY
Looking for a reverse mortgage specialist in Amherst? Review the directory below to compare your options.
2 agents listed
Updated May 2026
Amherst, NY
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 New York before hiring.
Showing 2 reverse mortgage specialists in Amherst, NY
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
1st Priority Mortgage, Inc.
6000 Sheridan Dr Suite A, Amherst, NY 14221
7166515626
L W Integrity Funding LLC
4498 Main St # 8, Amherst, NY 14226
7168733500
A reverse mortgage specialist in Amherst, New York helps homeowners aged 62 and older convert home equity into tax-free funds without monthly payments. New York state law requires all reverse mortgage borrowers to complete a counseling session with a HUD-approved counselor before applying. Specialists in Amherst can guide you through the process, including understanding the New York lien law and how it protects borrowers.
What Does a Reverse Mortgage Specialist in Amherst Cost?
Typical costs for a reverse mortgage specialist in New York include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value upfront plus 0.5 percent annually, and third-party fees such as appraisal and title search. These fees can range from 2000 to 6000 dollars depending on the home value and complexity. This is general information, 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 eligibility requirements for a reverse mortgage in Amherst New York?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The property must be your primary residence, and you must complete a HUD-approved counseling session as required by New York law. Financial assessment is also conducted to ensure you can pay property taxes and insurance.
How does New York state law affect reverse mortgage terms?
New York General Obligations Law Section 5-501 requires that reverse mortgage terms be clearly disclosed in writing. Borrowers have a three-day right of rescission after closing to cancel the loan without penalty. Additionally, New York law mandates that lenders provide a list of approved counseling agencies.
Can I lose my home with a reverse mortgage in Amherst?
You can lose your home if you fail to pay property taxes, maintain homeowners insurance, or keep the property in good repair. New York law requires lenders to give you a notice and a chance to cure any default before foreclosure. You must also continue to live in the home as your primary residence.
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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 New York.