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Find Reverse Mortgage Specialists Near You in Larchmont, NY
Compare reverse mortgage specialists in Larchmont. Review contact information and insurance categorys before you decide.
3 agents listed
Updated May 2026
Larchmont, 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 Larchmont, 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.
Larchmont Wealth Management
1940 Palmer Ave, Larchmont, NY 10538
9148469294
Fidelity Capital
1385 Boston Post Rd, Larchmont, NY 10538
9148339090
Scott Capital Group
1890 Palmer Ave # 302, Larchmont, NY 10538
2122287559
A reverse mortgage specialist in Larchmont, New York helps homeowners aged 62 and older convert home equity into loan proceeds. New York law requires mandatory counseling from a HUD-approved agency before a reverse mortgage can be finalized. Larchmont residents should work with a specialist familiar with local property values and New York state regulations.
What Does a Reverse Mortgage Specialist in Larchmont Cost?
Typical costs for a reverse mortgage 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. For a $500,000 home, total upfront costs can range from $10,000 to $15,000. Annual costs include servicing fees and interest. 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 qualifications does a reverse mortgage specialist need in New York?
In New York, a reverse mortgage specialist must hold a valid mortgage loan originator license. They must also follow state and federal rules, including the requirement for borrowers to receive counseling from a HUD-approved agency.
How long does the reverse mortgage process take in Larchmont?
The process in New York typically takes 30 to 60 days from application to closing. This includes mandatory counseling, property appraisal, and underwriting. Delays can occur if the borrower needs to resolve title issues or complete repairs.
Are reverse mortgage proceeds taxable in New York?
Reverse mortgage proceeds are not considered income for federal or New York state tax purposes. However, interest on the loan is not deductible until the loan is repaid. Consult a tax professional for your specific situation.
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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.