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Find Reverse Mortgage Specialists Near You in Wantagh, NY
Browse reverse mortgage specialists serving Wantagh, New York. Contact information and addresses listed below.
3 agents listed
Updated May 2026
Wantagh, 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 3 reverse mortgage specialists in Wantagh, NY
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A reverse mortgage specialist in Wantagh, New York helps homeowners aged 62 and older convert home equity into tax-free funds without monthly mortgage payments. New York law requires mandatory counseling from a HUD-approved agency before any reverse mortgage application. Specialists guide clients through the process, ensuring compliance with state regulations and explaining how loan repayment works when the home is sold or the borrower moves out.
What Does a Reverse Mortgage Specialist in Wantagh Cost?
In New York, reverse mortgage costs include an origination fee capped at $6,000 or 2 percent of the home value (whichever is less), plus an upfront mortgage insurance premium of 2 percent of the appraised value. Third-party fees such as appraisal ($400 to $800), title search, and recording fees add $1,500 to $3,000. Annual mortgage insurance premiums are 0.5 percent of the loan balance. Costs vary by situation and can be rolled into the loan amount. 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 Wantagh do?
A reverse mortgage specialist in Wantagh advises homeowners on Home Equity Conversion Mortgages (HECMs) insured by the FHA. They explain eligibility, loan terms, and repayment options. In New York, the specialist must ensure the borrower completes HUD-approved counseling before proceeding.
What are the New York requirements for a reverse mortgage?
New York law requires that all reverse mortgage borrowers receive counseling from a HUD-approved agency. The borrower must be at least 62 years old and own their home outright or have a low mortgage balance. The home must be the primary residence, and the property must meet FHA standards.
How much does a reverse mortgage cost in New York?
Costs for a reverse mortgage in New York include an origination fee (up to $6,000), third-party charges like appraisal and title search, and mortgage insurance premiums. Total closing costs typically range from $2,000 to $8,000, depending on the home value and loan type. These costs can be financed into the loan.
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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.