Suffolk County, NY Reverse Mortgage Snapshot
FIPS: 36103 • New York-Newark-Jersey City, NY-NJ-PA • Market Tier: High Volume
Suffolk County Executive BLUF Summary
Suffolk County (Long Island) is New York’s primary reverse mortgage market, where senior homeowners utilize high equity to fund property tax obligations and age in place.
Strategic Key Takeaways
- •Estimated Senior Home Equity (62+): $115 Billion.
- •Average Maximum Claim Amount (MCA): $660,000.
- •Senior Homeownership Rate: 84.5%.
- •Regulatory: New York DFS counseling and pre-foreclosure protection disclosures strictly enforced.
340,000 seniors (Age 62+)
Prior Year: 550
Median Home: $620,000
FHA Cap: $1,149,825
Suffolk County Endorsement & MCA Trajectory
Annual FHA single-family reverse mortgage activity
Top FHA Approved Reverse Mortgage Lenders in Suffolk County
Longbridge Financial
Direct Endorsement Approved
Finance of America Reverse
Direct Endorsement Approved
Mutual of Omaha Mortgage
Direct Endorsement Approved
Estimate HECM Line of Credit for Suffolk County Homeowners
Institutional FHA HECM Principal Limit Calculator
HUD Mortgagee Letter 2017-17 Calibrated • 2026 FHA MCA Cap: $1,149,825
Under HUD ML 2014-07, spouses of any age can be named as an Eligible Non-Borrowing Spouse, securing statutory rights to remain in the home indefinitely after the borrowing spouse passes away.
Available immediately as an unused, guaranteed growing Line of Credit, or distributed as monthly tenure payments for life.
10-Year Line of Credit Compounding Trajectory
| Year | Available Line | Loan Balance | Est. Retained Equity |
|---|---|---|---|
| Year 0 | $148,300 | $139,000 | $511,000 |
| Year 2 | $168,996 | $158,398 | $537,898 |
| Year 4 | $192,581 | $180,504 | $565,386 |
| Year 6 | $219,457 | $205,694 | $593,322 |
| Year 8 | $250,083 | $234,400 | $621,526 |
| Year 10 | $284,984 | $267,112 | $649,777 |