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Compare reverse mortgage specialists in Hauppauge. Review contact information and insurance categorys before you decide.
16 agents listed
Updated May 2026
Hauppauge, 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 16 reverse mortgage specialists in Hauppauge, 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.
A reverse mortgage specialist in Hauppauge New York helps homeowners aged 62 and older convert part of their home equity into cash. New York law requires borrowers to receive counseling from a HUD-approved agency before obtaining a Home Equity Conversion Mortgage. This service is especially relevant for Suffolk County residents looking to supplement retirement income while staying in their homes.
What Does a Reverse Mortgage Specialist in Hauppauge 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 such as appraisal and title search. These costs usually range from 5000 to 15000 dollars depending on the property value and loan type. Note that 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 Hauppauge 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 your primary residence. New York also mandates a mandatory counseling session with a HUD-approved counselor before you can proceed.
How does a reverse mortgage specialist help with New York state laws?
A specialist explains New York-specific rules, including the three-day right of rescission that lets you cancel the loan without penalty. They also guide you through the required counseling and ensure the loan terms comply with New York General Obligations Law.
What happens to the loan when the borrower moves out or passes away?
The loan becomes due when the last borrower dies, sells the home, or permanently moves out. Heirs have up to 12 months under New York law to repay the loan or sell the property. If the home is sold for less than the loan balance, the Federal Housing Administration covers the difference.
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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.