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Compare Reverse Mortgage Specialists in Spencerport, NY
Directory of reverse mortgage specialists in Spencerport, New York. Verify credentials with the state mortgage licensing authority before hiring.
2 agents listed
Updated May 2026
Spencerport, 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 Spencerport, 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.
Joseph Proia
129 S Union St, Spencerport, NY 14559
5856174981
CMG Home Loans
129 S Union St Suite A, Spencerport, NY 14559
5856174981
A reverse mortgage specialist in Spencerport, New York can help homeowners aged 62 and older convert home equity into tax-free funds. New York law requires mandatory counseling from a HUD-approved agency before any reverse mortgage application. Spencerport residents often use these loans to supplement retirement income or pay for home repairs.
What Does a Reverse Mortgage Specialist in Spencerport Cost?
In New York, reverse mortgage costs typically include an origination fee up to 2,500 dollars, a mortgage insurance premium of 2 percent of the home value, and appraisal fees around 500 dollars. Closing costs usually range from 2,000 to 5,000 dollars. These amounts vary based on the loan type 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 are the eligibility requirements for a reverse mortgage in Spencerport New York?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The property must be your primary residence. New York law also requires you to complete a counseling session with a HUD-approved counselor before applying.
How does New York law affect reverse mortgage terms for Spencerport homeowners?
New York imposes a six-month waiting period after counseling before you can close the loan. The state also limits origination fees to the greater of 2 percent of the maximum claim amount or 2,500 dollars. These rules protect borrowers from high upfront costs.
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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.