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Compare Reverse Mortgage Specialists in New Paltz, NY
Compare reverse mortgage specialists in New Paltz. Review contact information and insurance categorys before you decide.
3 agents listed
Updated May 2026
New Paltz, 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 New Paltz, 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.
Focused Financing
171 Main St, New Paltz, NY 12561
6318970051
Ulster Savings Bank
226 Main St, New Paltz, NY 12561
8452555470
Chase Mortgage
2 Plattekill Ave, New Paltz, NY 12561
8452550500
A reverse mortgage specialist in New Paltz, New York helps homeowners aged 62 and older convert home equity into tax-free funds. New York law requires borrowers to complete a HUD-approved counseling session before applying. Local specialists can guide you through the Home Equity Conversion Mortgage (HECM) process and explain how New York property tax deferral programs interact with reverse mortgages.
What Does a Reverse Mortgage Specialist in New Paltz Cost?
Typical costs for a reverse mortgage in New York include an origination fee of up to 2 percent of the first 200,000 dollars of home value plus 1 percent of the amount above that. Third-party fees such as appraisal, title search, and recording fees usually range from 1,500 to 4,000 dollars. HUD counseling costs between 125 and 250 dollars. Closing costs vary by lender 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 are the age requirements for a reverse mortgage in New Paltz?
All borrowers must be at least 62 years old. For married couples, if one spouse is under 62, a non-borrowing spouse rule may apply under HUD guidelines. New York state law does not change this federal requirement.
Do I need to own my home free and clear to qualify?
No, you can have an existing mortgage. The reverse mortgage must be used to pay off any current mortgage balance first. New York law requires lenders to verify that the borrower has sufficient income to pay property taxes and insurance.
What counseling is required in New York for a reverse mortgage?
New York law mandates that all borrowers receive HUD-approved counseling from a third-party agency before applying. The counselor explains loan terms, costs, and alternatives. A certificate of counseling must be issued and is valid for 180 days.
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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.