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Looking for a reverse mortgage specialist in Hoboken? Review the directory below to compare your options.
11 agents listed
Updated May 2026
Hoboken, 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 11 reverse mortgage specialists in Hoboken, 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.
A reverse mortgage specialist in Hoboken, New Jersey helps seniors aged 62 and older convert home equity into tax-free funds. New Jersey law requires that borrowers complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage (HECM). Hoboken homeowners often use these loans to supplement retirement income or cover property expenses in this high-cost Hudson County market.
What Does a Reverse Mortgage Specialist in Hoboken Cost?
Typical costs for a reverse mortgage in New Jersey include an origination fee of up to 2 percent of the home value (capped at $6,000), a mortgage insurance premium of 2 percent of the appraised value, and third-party fees for appraisal, title search, and recording. These fees total between $3,000 and $8,000 on average for a Hoboken home. Costs vary by lender and loan type. This is general information and 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 Hoboken 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 a primary residence, and the borrower must complete a HUD-approved counseling session. New Jersey does not have additional state-specific eligibility rules beyond federal HECM guidelines.
Are reverse mortgage proceeds taxable in New Jersey?
No, reverse mortgage proceeds are not considered income by the IRS or the state of New Jersey. They are treated as loan advances and are tax-free. However, interest on the loan is not deductible until the loan is repaid.
What happens to a reverse mortgage in Hoboken if the borrower moves into a nursing home?
If the borrower leaves the home for more than 12 consecutive months for medical care, the loan becomes due and payable. New Jersey law does not extend this federal rule. The borrower or their heirs must sell the home or repay the loan to avoid foreclosure.
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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.