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 3 reverse mortgage specialists in Fair Lawn, 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.
Gold Ring Investments Inc
0-40 Fairlawn Pkwy, Fair Lawn, NJ 07410
2012808916
Citizens Mortgage Corporation
26-01 Pellack Dr, Fair Lawn, NJ 07410
2013980800
Adriana Edelman
3100 Broadway, Fair Lawn, NJ 07410
2018748681
What Does a Reverse Mortgage Specialist in Fair Lawn Cost?
Typical costs for a reverse mortgage specialist in New Jersey include an origination fee of up to 2 percent of the home value, mortgage insurance premiums of 2 percent upfront and 0.5 percent annually, and third-party fees for appraisal, title search, and counseling. Total closing costs often range from 2,000 to 6,000 dollars depending on the property value and loan type. 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 is a reverse mortgage specialist in Fair Lawn?
A reverse mortgage specialist is a licensed professional who helps Fair Lawn homeowners understand and apply for reverse mortgages. They explain New Jersey specific rules, such as mandatory counseling and property charge requirements.
What are the eligibility requirements for a reverse mortgage in New Jersey?
You must be at least 62 years old, own your home outright or have a low mortgage balance, and live in the property as your primary residence. New Jersey also requires you to attend a counseling session with a HUD-approved agency.
How do New Jersey reverse mortgage laws affect Fair Lawn homeowners?
New Jersey law mandates that lenders provide a 10-day right of rescission after closing. The state also requires borrowers to pay property taxes and homeowners insurance on time to avoid default. Specialists can help you set up escrow accounts for these costs.