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Find Reverse Mortgage Specialists Near You in East Aurora, NY
Looking for a reverse mortgage specialist in East Aurora? Review the directory below to compare your options.
2 agents listed
Updated May 2026
East Aurora, 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 East Aurora, 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.
Five Star Bank
211 Main St, East Aurora, NY 14052
7166558248
First Aurora Financial Group
East Aurora, NY 14052
8002517754
A reverse mortgage specialist in East Aurora, New York helps homeowners aged 62 and older convert home equity into tax-free funds. New York law requires mandatory counseling from a HUD-approved agency before you can apply. Specialists in Erie County can guide you through the process and explain how a reverse mortgage may affect your estate and heirs.
What Does a Reverse Mortgage Specialist in East Aurora Cost?
Typical costs for a reverse mortgage in New York include an origination fee (up to 2 percent of the home value, capped at $6,000), a mortgage insurance premium (2 percent of the appraised value upfront), and appraisal fees ($400 to $600). Closing costs such as title insurance and recording fees add $1,000 to $3,000. These amounts 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 does a reverse mortgage specialist in East Aurora do?
A reverse mortgage specialist helps you understand and apply for a Home Equity Conversion Mortgage (HECM). They explain eligibility, loan terms, and repayment options. In New York, they must ensure you complete required counseling before proceeding.
What are the New York state requirements for a reverse mortgage?
New York requires all borrowers to receive independent counseling from a HUD-approved agency. The counselor must explain loan costs, payment options, and alternatives. You must also meet federal requirements, such as being 62 or older and owning your home outright or having low mortgage balance.
How long does the reverse mortgage process take in New York?
The process typically takes 30 to 60 days from application to closing. New York law mandates a three-day rescission period after closing, during which you can cancel the loan without penalty. Delays can occur if counseling or property appraisal takes longer.
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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.