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 7 reverse mortgage specialists in New Hartford, 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.
OneMain Financial
4654 Commercial Dr, New Hartford, NY 13413
3157688141
JT Smith- Northwestern Mutual
19 Campion Rd, New Hartford, NY 13413
3159827245
Stewart Financial
19 Campion Rd, New Hartford, NY 13413
3156247703
Northwestern Mutual
19 Campion Rd, New Hartford, NY 13413
3157315400
New Hartford Branch
41 Kellogg Rd, New Hartford, NY 13413
3157976552
Loandepot new Hartford NY
44 Oxford Rd, New Hartford, NY 13413
3158002396
Territory Mortgage, Inc.
66 Genesee St # 1, New Hartford, NY 13413
3157928021
What Does a Reverse Mortgage Specialist in New Hartford Cost?
In New York, reverse mortgage costs include an origination fee up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees like appraisal and title search. Typical total costs range from 2,000 to 8,000 dollars depending on the home value and loan type. 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 Hartford?
In New York, a reverse mortgage specialist must hold a valid mortgage loan originator license. They must also complete annual continuing education on reverse mortgage rules. Specialists often work with FHA-approved lenders to offer Home Equity Conversion Mortgages (HECMs).
Are there New York specific rules for reverse mortgages?
Yes, New York requires a mandatory three-day right of rescission after closing. Borrowers must also attend HUD-approved counseling before the loan application. New York law limits the amount of loan origination fees and requires clear disclosure of all costs.
What is the process to get a reverse mortgage in New Hartford?
First, you must attend HUD-approved counseling. Then you apply with a licensed specialist who orders an appraisal. After approval, you close the loan and have three days to cancel. Funds are available as a lump sum, monthly payments, or a line of credit.