A reverse mortgage specialist in Dobbs Ferry, New York helps homeowners aged 62 and older convert part of their home equity into tax-free funds. New York law requires borrowers to complete HUD-approved counseling before applying. Local specialists can guide you through the unique rules for New York condos and co-ops.
What Does a Reverse Mortgage Specialist in Dobbs Ferry 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, and closing costs ranging from 2,000 to 5,000 dollars. Annual servicing fees are usually 30 to 35 dollars per month. These costs vary by lender 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.
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