Find Reverse Mortgage Specialists Near You in Garden City, NY
Browse reverse mortgage specialists serving Garden City, New York. Contact information and addresses listed below.
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
State Mortgage Licensing Authority of New York before hiring.
Showing 15 reverse mortgage specialists in Garden City, NY
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A reverse mortgage specialist in Garden City, New York helps homeowners aged 62 and older access home equity without monthly payments. New York State requires borrowers to complete HUD-approved counseling before applying. Garden City residents often use these loans to supplement retirement income or cover home repairs.
What Does a Reverse Mortgage Specialist in Garden City 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 third-party fees such as appraisal and title search. These fees often total between 5,000 and 15,000 dollars depending on the loan amount and property value. 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 in Garden City do?
A reverse mortgage specialist guides you through the loan process, explains New York State counseling requirements, and helps you compare options. They ensure you understand the terms and costs before you sign any documents.
Is counseling required for a reverse mortgage in New York?
Yes, New York State law requires all borrowers to complete a counseling session with a HUD-approved agency before applying. This session covers loan terms, costs, and alternatives. The specialist can provide a list of approved counselors.
What are the eligibility rules for a reverse mortgage in Garden City?
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. The home must be a single-family home, a 2-4 unit property, or a FHA-approved condominium.