New York State Reverse Mortgage - NY Reverse Mortgage Interest Rates

Enjoy Financial Freedom with a New York State Reverse Mortgage

Millions of Americans have taken advantage of the value of their home to enjoy their golden years using a low-rate New York State reverse mortgage.

In NY, reverse mortgage interest rates are at historic lows, driven by a number of market factors. This means now is the time to secure a reverse mortgage in New York, so you can tap into the equity of your home!

What is a New York State Reverse Mortgage?

A reverse mortgage is just that, a mortgage reversed! Rather than pay a monthly mortgage payment, you get paid a determined amount based on the value of your home.

• You must be 62 years of age or older to qualify
• You must own a home
• You must have a meeting with an approved reverse mortgage counselor prior to entering into a New York State reverse mortgage.

How do I take Advantage of Low NY Reverse Mortgage Interest Rates?

For those who have already paid off their homes, a reverse mortgage taps that equity and provides money for whatever you want—a vacation, medical bills, extra spending cash each month or at one time. With a reverse mortgage in New York, you can choose to receive money monthly, a lump sum or another determined way. Interest is charged only on the money you receive. Low NY reverse mortgage interest rates make it a good time to explore this financial option. There are upfront fees associated with taking a reverse mortgage in New York. For those who still owe on another mortgage, a New York state reverse mortgage may not be the best option. Working with your New York state reverse mortgage counselor can help you determine if this is the option for you.