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Showing 3 reverse mortgage specialists in Latham, 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.
ClearPath Mortgage Solutions
43 British American Blvd Suite 5, Latham, NY 12110
5183897070
Maple Tree Funding
1202 Troy-Schenectady Rd Building 3, Latham, NY 12110
5187821202
Premium Mortgage Corporation
935 Loudon Rd Suite 3A, Latham, NY 12110
5189248001
What Does a Reverse Mortgage Specialist in Latham Cost?
Typical costs for a reverse mortgage in New York include an origination fee of up to 2 percent of the home value (capped at 6,000 dollars), a mortgage insurance premium of 2 percent of the appraised value, and third-party fees for appraisal, title search, and recording. Total closing costs often range from 8,000 to 15,000 dollars depending on home value and lender. 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 do reverse mortgage specialists in Latham need?
In New York, reverse mortgage specialists must be licensed mortgage loan originators registered with the New York State Department of Financial Services. They must also complete HECM counseling through a HUD-approved agency before a loan can be processed.
Are there income or credit requirements for a reverse mortgage in Latham?
Lenders do not require a minimum income or credit score to qualify. However, they must verify that you can pay ongoing property taxes, homeowners insurance, and maintain the home. New York law also requires a financial assessment to ensure you can meet these obligations.