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Looking for a reverse mortgage specialist in New City? Review the directory below to compare your options.
5 agents listed
Updated May 2026
New City, 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 5 reverse mortgage specialists in New City, 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.
FM Home Loans
56 Congers Rd, New City, NY 10956
8453549700
Zev Spitzer at CrossCountry Mortgage
873 NY-45 #107, New City, NY 10956
8456372664
Jay Reich at CrossCountry Mortgage
873 NY-45 #107, New City, NY 10956
6466683955
Rick Spears | Prodigy Mortgage Corp
3 Dalewood Ct, New City, NY 10956
8456390400
UNMB Home Loans Inc. — New City, NY
2 Omni Ct Unit 2L, New City, NY 10956
9142689336
A reverse mortgage specialist in New City, New York can help older homeowners access home equity without monthly payments. New York law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage. Specialists in Rockland County guide clients through the unique requirements of New York State, including mandatory counseling and loan limits.
What Does a Reverse Mortgage Specialist in New City Cost?
Typical costs for a reverse mortgage in New York include an origination fee of up to 2% of the homes value, a mortgage insurance premium of 2% of the loan amount, and third-party fees for appraisal and title search. These costs total between $5,000 and $15,000 depending on the properties value and loan size. Borrowers can often finance these costs 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 are the requirements for a reverse mortgage in New City New York?
Borrowers must be at least 62 years old and own a home in New City. The home must be the primary residence. New York law requires a HUD-approved counseling session before a loan application can be submitted.
How much can I borrow with a reverse mortgage in New York?
The amount depends on your age, the homes appraised value, and current interest rates. In 2024, the FHA lending limit for a Home Equity Conversion Mortgage in Rockland County is $1,089,300. A specialist can calculate your specific borrowing limit.
Are reverse mortgage proceeds taxable in New York?
Proceeds from a reverse mortgage are not considered income and are not taxable by New York State or the federal government. However, interest on the loan is not deductible until the loan is repaid. Consult a tax professional for your situation.
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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.