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Find Reverse Mortgage Specialists Near You in Farmingdale, NY
Compare reverse mortgage specialists in Farmingdale. Review contact information and insurance categorys before you decide.
3 agents listed
Updated May 2026
Farmingdale, 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 3 reverse mortgage specialists in Farmingdale, 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.
United Faith Mortgage
399 Conklin St Suite 206, Farmingdale, NY 11735
8882258999
Vinnie DiOrio - Fairway Home Mortgage
105 Conklin St Suite 2, Farmingdale, NY 11735
5162494800
Academy Mortgage Corp.
105 Conklin St, Farmingdale, NY 11735
5162494800
A reverse mortgage specialist in Farmingdale, New York helps homeowners aged 62 and older convert home equity into tax-free funds without monthly payments. New York law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage (HECM). Farmingdale residents often use these funds to supplement retirement income or pay for home repairs.
What Does a Reverse Mortgage Specialist in Farmingdale Cost?
In New York, reverse mortgage costs include an origination fee (up to $6,000), third-party charges like appraisal and title search (typically $500 to $1,500), and a mortgage insurance premium (2% of the home value upfront plus 0.5% annually). Total closing costs usually range from $2,000 to $8,000. These costs can be financed into the loan. 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 does a reverse mortgage specialist do in Farmingdale?
A reverse mortgage specialist guides homeowners through the HECM process, including eligibility checks, loan options, and closing. They help you understand New York-specific rules, such as the mandatory counseling session and the right to rescind the loan within three business days after closing.
What are the eligibility requirements for a reverse mortgage in New York?
You must be at least 62 years old, own your home outright or have a low mortgage balance, and live in the property as your primary residence. New York also requires that you complete a HUD-approved counseling session before the loan application can proceed.
How long does the reverse mortgage process take in Farmingdale?
The process typically takes 30 to 45 days from application to closing. This includes the mandatory counseling session, property appraisal, and underwriting. New York law does not impose additional time limits beyond federal HECM requirements.
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About Our Listings
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.