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 Jersey before hiring.
Showing 2 reverse mortgage specialists in Audubon, NJ
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
TAM Lending Center Inc
251 S White Horse Pike, Audubon, NJ 08106
8567955900
Preferred Lenders - Prelenders.com
251 S White Horse Pike, Audubon, NJ 08106
6097519900
What Does a Reverse Mortgage Specialist in Audubon Cost?
In New Jersey, reverse mortgage costs include an origination fee up to 6,000 dollars, a mortgage insurance premium of 2 percent of the home value, and third-party fees for appraisal, title search, and recording. Total closing costs often range from 2,000 to 8,000 dollars. Annual servicing fees are capped at 35 dollars per month. 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 Audubon do?
A reverse mortgage specialist guides you through the loan process, explains eligibility rules, and helps you choose a product. They must follow New Jersey regulations, including the mandatory counseling session. The specialist does not provide legal advice but coordinates with your chosen professionals.
Are there New Jersey specific requirements for reverse mortgages?
Yes, New Jersey requires a mandatory counseling session with a HUD-approved counselor before you can apply. The state also limits loan origination fees to 2 percent of the first 200,000 dollars of the home value plus 1 percent of the amount above 200,000 dollars. These rules protect homeowners from excessive costs.