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Reverse Mortgage Specialists in Cortlandt Manor, NY
Compare reverse mortgage specialists in Cortlandt Manor. Review contact information and insurance categorys before you decide.
2 agents listed
Updated May 2026
Cortlandt Manor, 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 Cortlandt Manor, 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.
Sun Mortgage Company, Inc.
2 Robbie Rd, Cortlandt Manor, NY 10567
8774786562
A.S.A.P. Mortgage Corp.
3565 Crompond Rd, Cortlandt Manor, NY 10567
9149301110
A reverse mortgage specialist in Cortlandt Manor New York helps homeowners aged 62 and older convert home equity into tax-free funds. New York state law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage. Cortlandt Manor residents often use these loans to supplement retirement income or cover home repairs.
What Does a Reverse Mortgage Specialist in Cortlandt Manor Cost?
Typical costs for a reverse mortgage in New York include an origination fee up to 2 percent of the home value with a cap of 6 thousand dollars. Third party costs such as appraisal title insurance and recording fees range from 2 thousand to 5 thousand dollars. An upfront mortgage insurance premium of 2 percent of the appraised value is also required. Annual mortgage insurance premiums are 0.5 percent of the loan balance. Costs vary by lender property value and loan type. 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 age requirements for a reverse mortgage in Cortlandt Manor?
Borrowers must be at least 62 years old. New York law follows federal HUD guidelines for HECM loans. All homeowners on the title must meet the age requirement.
Do I need counseling before getting a reverse mortgage in New York?
Yes. New York requires all borrowers to attend a counseling session with a HUD-approved counselor. This session covers loan terms costs and alternatives. You must receive a certificate of completion before the lender can process your application.
Are reverse mortgage proceeds taxable in New York?
No. Loan proceeds from a reverse mortgage are not considered income by New York state or the IRS. They are a loan advance and do not affect Social Security or Medicare benefits. However they may impact Medicaid eligibility.
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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.