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Find Reverse Mortgage Specialists Near You in Smithtown, NY
Looking for a reverse mortgage specialist in Smithtown? Review the directory below to compare your options.
8 agents listed
Updated May 2026
Smithtown, 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 8 reverse mortgage specialists in Smithtown, 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.
All Island Mortgage & Funding Corp.
496 NY-347 #308, Smithtown, NY 11787
6319793300
Luminate Bank - Smithtown Branch
11 Redwood Ln, Smithtown, NY 11787
6314066565
Best Rate Capital Inc.
975 W Jericho Turnpike #3, Smithtown, NY 11787
6313600003
Vista Capital Services Inc
1020 W Jericho Turnpike #209, Smithtown, NY 11787
6316442663
DMN Mortgage Corp.
155 E Main St, Smithtown, NY 11787
6314863770
UNMB Home Loans Inc. - Smithtown, NY
398 NY-111, Smithtown, NY 11787
6318519567
Long Island Mortgage | New York Reverse Mortgages
738 Smithtown Bypass #101, Smithtown, NY 11787
6318633300
Senior Settlement Services
444 NY-111, Smithtown, NY 11787
6317153444
A reverse mortgage specialist in Smithtown New York helps homeowners aged 62 and older access home equity without monthly payments. In New York state all reverse mortgage originators must be licensed by the Department of Financial Services. Smithtown residents often use these loans to supplement retirement income or pay for home repairs while staying in their homes.
What Does a Reverse Mortgage Specialist in Smithtown Cost?
In New York a reverse mortgage specialist typically charges an origination fee of up to 2 percent of the home value capped at 6000 dollars. The upfront mortgage insurance premium is 2 percent of the appraised value. Additional costs include an appraisal fee of 450 to 600 dollars title insurance of 800 to 1500 dollars and recording fees of 100 to 300 dollars. Total closing costs often range from 5000 to 12000 dollars but vary by property 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 are the age requirements for a reverse mortgage in Smithtown New York?
Borrowers must be at least 62 years old. If there are multiple borrowers the youngest borrower must meet this age requirement. New York law also requires a mandatory counseling session with a HUD-approved counselor before you can apply.
How does New York law affect reverse mortgage proceeds in Smithtown?
New York law limits how much you can borrow based on your age home value and current interest rates. The loan is non-recourse meaning you or your heirs will never owe more than the home is worth when the loan becomes due. You must also continue to pay property taxes and homeowners insurance.
What are the typical costs for a reverse mortgage specialist in Smithtown?
Costs include an origination fee up to 2 percent of the home value and a mortgage insurance premium of 2 percent of the appraised value. Third-party fees for appraisal title search and recording can range from 1000 to 3000 dollars. These costs are usually rolled into the loan balance.
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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.