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Find Reverse Mortgage Specialists Near You in Bay Shore, NY
Directory of reverse mortgage specialists in Bay Shore, New York. Verify credentials with the state mortgage licensing authority before hiring.
2 agents listed
Updated May 2026
Bay Shore, 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 2 reverse mortgage specialists in Bay Shore, 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.
Artisan Mortgage Company, Inc.
134 4th Ave, Bay Shore, NY 11706
6318599414
Senior Reverse Network | Reverse Mortgage
111 W Main St #110, Bay Shore, NY 11706
8555534732
A reverse mortgage specialist in Bay Shore New York helps homeowners aged 62 and older access home equity without monthly payments. New York law requires borrowers to complete a counseling session with a HUD-approved agency before applying. Bay Shore residents can use these loans to supplement retirement income or pay for home repairs.
What Does a Reverse Mortgage Specialist in Bay Shore Cost?
In New York reverse mortgage closing costs typically range from 2 to 5 percent of the home value. This includes an origination fee up to 2 percent of the first 200000 dollars of home value plus 1 percent of the amount above that. Other costs include appraisal fees around 400 to 600 dollars and counseling fees up to 125 dollars. Costs vary by lender 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 does a reverse mortgage specialist in Bay Shore do?
A reverse mortgage specialist guides homeowners through the HECM process including eligibility checks and loan options. They explain New York specific rules like the three day right of rescission after closing. They also coordinate with HUD approved counselors.
What are the eligibility requirements for a reverse mortgage in New York?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The property must be a primary residence in Bay Shore. New York law requires a financial assessment to ensure the borrower can pay property taxes and insurance.
How does New York law affect reverse mortgage proceeds?
New York does not tax reverse mortgage proceeds as income. Borrowers can receive funds as a lump sum monthly payments or a line of credit. The loan becomes due when the last borrower moves out or passes away.
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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.