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Looking for a reverse mortgage specialist in Ozone Park? Review the directory below to compare your options.
2 agents listed
Updated May 2026
Ozone Park, 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 Ozone Park, 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.
Gadura Mortgage
106-09 101st Ave Suite 1F, Ozone Park, NY 11416
7186400444
Brookville Mortgage
105-01 Liberty Ave, Ozone Park, NY 11417
7188457993
A reverse mortgage specialist in Ozone Park, New York helps homeowners aged 62 and older convert home equity into tax-free funds without monthly payments. New York law requires borrowers to receive counseling from a HUD-approved agency before applying. Ozone Park residents can use these loans for home repairs, medical expenses, or supplementing retirement income.
What Does a Reverse Mortgage Specialist in Ozone Park Cost?
Typical costs for a reverse mortgage in New York include an origination fee of up to $6,000, a mortgage insurance premium of 2% of the homes value, and third-party fees like appraisal and title search totaling $1,000 to $3,000. Closing costs generally range from $5,000 to $15,000, depending on the loan size and property. These costs can be financed into the loan, meaning no out-of-pocket payment is required at closing. 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 Ozone Park?
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, such as a single-family home, approved condo, or FHA-approved manufactured home. New York also requires a financial assessment to ensure the borrower can pay property taxes and insurance.
How much money can I get from a reverse mortgage in New York?
The amount depends on the youngest borrowers age, the homes appraised value, and current interest rates. In New York, the maximum claim amount for a Home Equity Conversion Mortgage (HECM) is $1,089,300 as of 2024. You can receive funds as a lump sum, monthly payments, a line of credit, or a combination.
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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.