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 4 reverse mortgage specialists in Baldwinsville, 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.
Upstate Premier Mortgage
57 E Genesee St, Baldwinsville, NY 13027
3153261271
Empower Federal Credit Union
15 E Genesee St #110, Baldwinsville, NY 13027
8004625000
Together Credit Union
2885 Belgium Rd, Baldwinsville, NY 13027
3156353487
Horan Wealth Management
63 E Genesee St Suite A, Baldwinsville, NY 13027
3156353666
What Does a Reverse Mortgage Specialist in Baldwinsville Cost?
Typical costs for a reverse mortgage in New York include an origination fee up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees such as appraisal and title search. Total closing costs often range from 2,000 to 5,000 dollars. Costs vary by loan amount and lender. 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 Baldwinsville?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The property must be the primary residence, and a HUD-approved counseling session is mandatory under New York law.
How does New York law affect reverse mortgage terms?
New York requires a mandatory three-day right of rescission after closing, allowing borrowers to cancel without penalty. The state also mandates specific disclosures about loan costs and repayment triggers.
Can I lose my home with a reverse mortgage in Baldwinsville?
Yes, if you fail to pay property taxes, homeowners insurance, or maintain the home. New York law requires lenders to provide a notice of default and a cure period before foreclosure can begin.