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Compare Reverse Mortgage Specialists in Lockport, NY
Looking for a reverse mortgage specialist in Lockport? Review the directory below to compare your options.
8 agents listed
Updated May 2026
Lockport, 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 Lockport, 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.
Homestead Funding Corp: Mary Jo Traversone | NMLS# 589509
76 West Ave, Lockport, NY 14094
7166960036
Edward Jones - Financial Advisor: Ken Fisher
140 Main St, Lockport, NY 14094
7164382526
Edward Jones - Financial Advisor: Thomas K Dalton, CFP®|AAMS®|CRPC™
A reverse mortgage specialist in Lockport, New York can help homeowners aged 62 and older convert part of their home equity into tax-free funds. New York state requires borrowers to complete a counseling session with a HUD-approved agency before applying for a Home Equity Conversion Mortgage HECM. Lockport residents should work with a specialist who understands local property values and Niagara County regulations.
What Does a Reverse Mortgage Specialist in Lockport Cost?
In New York, reverse mortgage costs typically include an origination fee up to 2 percent of the home value capped at 6000 dollars, a mortgage insurance premium of 2 percent of the appraised value, and third party costs such as appraisal and title search ranging from 500 to 2000 dollars. Counseling fees are usually 125 to 250 dollars but may be waived. These costs can be financed into the loan. 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 Lockport do?
A reverse mortgage specialist guides seniors through the HECM process, from initial counseling to loan closing. They explain eligibility rules, repayment terms, and how the loan affects heirs. In New York, the specialist must follow state disclosure laws and provide clear cost estimates.
Are there New York specific rules for reverse mortgages?
Yes, New York requires a mandatory counseling session with a HUD-approved agency before a reverse mortgage application. The state also limits origination fees and requires lenders to provide a detailed cost worksheet. Borrowers have a three day right of rescission after closing.
How do I choose a reverse mortgage specialist in Lockport?
Look for a specialist licensed in New York with experience in HECM loans. Check their record with the New York State Department of Financial Services. Ask for references and compare fee structures from multiple providers before deciding.
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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.