Compare Reverse Mortgage Specialists in Saugerties, NY
Browse reverse mortgage specialists serving Saugerties, New York. Contact information and addresses listed below.
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
State Mortgage Licensing Authority of New York before hiring.
Showing 3 reverse mortgage specialists in Saugerties, 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.
What Does a Reverse Mortgage Specialist in Saugerties 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 for appraisal title and recording which range from 500 to 2000 dollars. Annual mortgage insurance premiums are 0.5 percent of the loan balance. Costs vary by case 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 are the eligibility requirements for a reverse mortgage in Saugerties New York?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The home must be your primary residence. New York law also requires you to attend a counseling session with a HUD-approved counselor before you can apply.
How does New York law protect reverse mortgage borrowers?
New York General Business Law Section 6-1601 requires lenders to provide clear disclosures and a three-day right of rescission. Borrowers also have protections against foreclosure for non-borrowing spouses under certain conditions.