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Showing 3 reverse mortgage specialists in Pearl River, 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.
Matthew Reid at CrossCountry Mortgage
19 N Main St Suite A, Pearl River, NY 10965
8777731226
Drew Tobin at CrossCountry Mortgage
19 N Main St Suite A, Pearl River, NY 10965
9143566685
QuestStar Mortgage
7 E Central Ave, Pearl River, NY 10965
8008470714
What Does a Reverse Mortgage Specialist in Pearl River Cost?
Typical costs for a reverse mortgage specialist in New York include an origination fee of up to $6,000, a mortgage insurance premium of 2% of the home value, and third-party costs such as appraisal and title fees ranging from $1,000 to $3,000. Annual servicing fees may apply. These 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 Pearl River do?
A reverse mortgage specialist guides you through the loan process, explains eligibility rules, and helps you choose between a Home Equity Conversion Mortgage (HECM) and proprietary options. They also coordinate with New York-required counseling agencies.
What are the New York state requirements for a reverse mortgage?
New York requires borrowers to be at least 62 years old and to attend a counseling session with a HUD-approved agency. The loan must be recorded in the county clerk office, and the borrower must occupy the home as their primary residence.
How much can I borrow with a reverse mortgage in Pearl River?
The amount depends on the appraised home value, the borrower age, and current interest rates. For a HECM in New York, the maximum claim amount is $1,089,300 as of 2024. A specialist can provide a personalized estimate.