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Compare New York's Best Reverse Mortgages!
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New York Reverse Mortgage Lenders

Lender Rating Years in Business Stars (0-5) Good Review % Complaints BBB
Advisors Mortgage Group A+ 24 1.6/5 33% 4 Source
American Advisors Group (AAG) A- 19 4.7/5 94% 82 Source
American Pacific Mortgage F 27 1.0/5 20% 15 Source
Ennkar Inc. A+ 13 3.6/5 73% 3 Source
Fairway Independent Mortgage A+ 27 4.9/5 98% 43 Source
Finance of America Reverse LLC (FAR) A+ 20 1.5/5 31% 18 Source
GoodLife Home Loans A+ 11 4.4/5 88% 1 Source
Guild Mortgage Company (Formerly Cherry Creek LLC) A+ 63 1.3/5 26% 52 Source
HighTechLending Inc NR 15 3.0/5 60% 1 Source
Liberty Home Equity Solutions Inc. A+ 20 1.00/5 20% 3 Source
Longbridge Financial LLC A+ 11 3.9/5 79% 15 Source
Mid America Mortgage Inc. NR 65 3.0/5 60% 0 Source
Moneyhouse A+ NA NA NA 0 Source
Movement Mortgage, LLC A+ 16 4.7/5 95% 110 Source
Mutual of Omaha Mortgage A+ 10 4.8/5 96% 60 Source
Open Mortgage LLC A+ 20 2.8/5 56% 1 Source
Plaza Home Mortgage Inc A+ 23 1.8/5 36% 27 Source
Smartfi Home Loans A+ 4 NA NA 0 Source
South River Mortgage, LLC A+ 4 2.3/5 46% 14 Source
Reviews Updated: 11/29/2023
The BBB is one of the last review sites that does not accept monetary influence in their ratings or posted reviews.
 

New York reverse mortgage lender map

New York Reverse Mortgage Facts

StateHomeowners Age 62+Reverse Mortgages Closed Last 12 MonthsPurchase Reverse Mortgages Closed Last 12 MonthsLenders in New YorkAvg. Home Value
New York346,984 649168 218 $425,011

Data shown includes all cases with beginning endorsement date between January 01, 2023 and December 31, 2023

New York Lending Limits

New York lending limits

New York ranks as the fourth most populous state in the U.S. and the 27th largest in terms of land size. As of 2017, 19,849,399 people lived in the state and almost half of that population was around the New York City area. The Empire State has about 3,156,054 people over the age of 65. About 51% of people in the state were homeowners as of 2017.

Various native people lived in the New York area before it was discovered by Europeans. The Italians were the first to explore the area in the late sixteenth century and the Dutch established the first settlement in the early 1600s. In 1664, the British took control and the area became one of the 13 colonies. New York played an important role in the Revolutionary War and — when the British were defeated — it became the 11th U.S. state in 1788.

A true megacity, New York City is not only the largest in the state but also the country, with a record-breaking 8.6 million in 2018. From the city’s earliest days, it has been the center of the country’s melting pot, with Ellis Island welcoming more than 12 million immigrants between 1892 and 1924. The “Big Apple” is famous for Broadway’s theaters, Central Park, Times Square, and Wall Street.

The next biggest cities in the state are Buffalo, Rochester, Yonkers, and Syracuse.
Buffalo has 261,000 residents and is famous for the spicy chicken wings that originated there. The three driving industries in the state are the financial services, healthcare, and professional and technical services. Topping the list of largest companies in New York are JPMorgan Chase and Co., Citi, and Verizon.

With hot summers and cold winters, New York is classified as a continental climate. The state experiences an average high in July of 85 degrees Fahrenheit and an average low in January of 26 degrees Fahrenheit. Year-round weather is fairly well rounded, with sun, snow and rain. Because of its location on the coast, New York gets the occasional hurricane or nor’easter.

The average home value in the state is $476,600, below the federal maximum reverse mortgage lending limit of $1,149,825 that applies to all HECM loans. For more borrowing power above the federal limit, there are jumbo reverse mortgage programs available.

New York Approved Reverse Mortgage Counseling Agencies

Agency NamePhoneAgency IDAddressLanguagesWebsite
BELMONT HOUSING RESOURCES FOR WNY, INCORPORATED716-884-7791817691195 Main St
Buffalo, New York 14209-2101
English
French
German
Hindi
Polish
Russian
Spanish
www.belmonthousingwny.org/
CCCS OF BUFFALO, INC.716-712-20608224240 Gardenville Pkwy Ste 300
Buffalo, NY 14224
Buffalo, New York 14224-1387
English
Spanish
www.consumercreditbuffalo.org
PUTNAM COUNTY HOUSING CORPORATION845-225-84938072311 Seminary Hill Rd
Carmel, New York 10512-1801
English
Spanish
Putnamhousing.com
COMMUNITY DEVELOPMENT CORPORATION OF LONG ISLAND631-471-1215812322100 Middle Country Rd
Centereach, New York 11720-3577
Creole
English
Spanish
www.cdcli.org
AMERICAN DEBT RESOURCES800-498-076684525384 Larkfield Rd.
Suite 1
EAST NORTHPORT, New York 11731-3527
English
Spanish
www.americandebtresources.com
FAMILY AND CHILDREN'S ASSOCIATION516-485-342580444400 Oak Street Suite 104
GARDEN CITY, New York 11530-6554
English
Spanish
www.familyandchildrens.org
DEBT COUNSELING CORP.631-582-4300843073033 Express Dr N
Suite 103
Hauppauge, New York 11749-5309
English
Spanish
ckorth@debtcounselingcorp.org
CAMBRIDGE CREDIT COUNSELING CORPORATION - NEW YORK BRANCH888-656-439690288245 Saw Mill River Road
HAWTHORNE, New York 10532-1526
English
Italian
Polish
Spanish
www.rupco.org
FRIENDS OF THE NORTH COUNTRY518-834-9606824871 Mill St
Keeseville, New York 12944-1215
Englishwww.dmcccorp.org
RUPCO, INC.845-331-214080003301 Fair St
Kingston, New York 12401-3835
English
Spanish
www.hdsw.org/
DEBT MANAGEMENT CREDIT COUNSELING CORP631-207-580090119152 Waverly Avenue
PATCHOGUE, New York 11772-2150
English
Spanish
www.dmcccorp.org
HUMAN DEVELOPMENT SERVICES OF WESTCHESTER, INC.914-939-20058396628 Adee St
Port Chester, New York 10573-4339
English
Spanish
www.hdsw.org/
HUDSON RIVER HOUSING845-454-928883637291Mill Street
POUGHKEEPSIE, New York 12601-3147
ASL
English
Spanish
hudsonriverhousing.org
CCCS OF ROCHESTER, INC.585-546-3440846251000 University Ave
SUITE 900
ROCHESTER,NY 14607
Rochester, New York 14607-1286
English
Spanish
https://www.cccsofrochester.org/
THE HOUSING COUNCIL AT PATHSTONE, INC.585-546-37008037775 College Ave Ste 412
Rochester, New York 14607-1009
English
Spanish
www.thehousingcouncil.org
UNHS NEIGHBORWORKS HOMEOWNERSHIP CENTER315-724-4197823101611 Genesee St
Utica, New York 13501-4731
English
Russian
Spanish
Vietnamese
www.unhs.org
ALBANY COUNTY RURAL HOUSING ALLIANCE, INC.518-765-24258002924 Martin Rd
Voorheesville, New York 12186-4814
English
www.acrha.org
GREENPATH FINANCIAL WELLNESS888-860-41678322975 S Broadway
Fourth Floor, Office 462
White Plains, New York 10601-4413
English
Spanish
www.greenpath.org
WESTCHESTER RESIDENTIAL OPPORTUNITIES, INCORPORATED914-428-450780437470 Mamaroneck Ave Ste 410
White Plains, New York 10605-1839
English
French
Spanish
www.wroinc.org

Did you know? New York state does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies and conduct your required counseling from the comfort of your home.

Additional Resources:
Reversemortgage.org NRMLA Members in New York
HUD.GOV Approved Lenders Search

New York Reverse Mortgages
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