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Directory of reverse mortgage specialists in Closter, New Jersey. Verify credentials with the state mortgage licensing authority before hiring.
2 agents listed
Updated May 2026
Closter, NJ
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 Closter, 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.
First Integrity Mortgage Co
317 Harrington Ave #1, Closter, NJ 07624
2017681821
First Integrity Mortgage Co
317 Harrington Ave #1, Closter, NJ 07624
2017681821
A reverse mortgage specialist in Closter, New Jersey helps homeowners aged 62 and older convert home equity into tax-free funds without selling their property. In New Jersey, borrowers must complete a counseling session with a HUD-approved counselor before applying. Closter residents benefit from specialists familiar with Bergen County property values and New Jersey's strict consumer protection laws.
What Does a Reverse Mortgage Specialist in Closter Cost?
Typical costs for a reverse mortgage in New Jersey include an origination fee of up to $6,000, a mortgage insurance premium of 2 percent of the home's value, and third-party fees such as appraisal and title search totaling $500 to $1,500. Closing costs generally range from $2,000 to $8,000, depending on the loan amount and property value. 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 are the eligibility requirements for a reverse mortgage in Closter New Jersey?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The property must be the primary residence and meet FHA standards. New Jersey law requires mandatory counseling to ensure the borrower understands the loan terms.
How does New Jersey law affect reverse mortgage proceeds?
New Jersey does not tax reverse mortgage proceeds as income, and they do not affect Social Security or Medicare benefits. However, borrowers must continue to pay property taxes and homeowners insurance. If the borrower fails to pay taxes or maintain insurance, the lender can require repayment.
What happens to a reverse mortgage when the borrower dies in New Jersey?
When the borrower dies, the loan becomes due and payable. Heirs can repay the loan balance or 95 percent of the home's appraised value, whichever is less, to keep the home. New Jersey law gives heirs six months after the lender's notice to decide, with possible extensions.
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About Our Listings
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 Jersey.