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 Monmouth Junction, 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.
All State Lenders Corp.
2088 US-130 #100, Monmouth Junction, NJ 08852
7329510333
Unique Mortgage Corporation
4105 US-1 STE 10, Monmouth Junction, NJ 08852
7329512313
What Does a Reverse Mortgage Specialist in Monmouth Junction Cost?
In New Jersey, reverse mortgage costs include an origination fee (up to 2 percent of the home value), a mortgage insurance premium (2 percent of the loan amount upfront plus 0.5 percent annually), appraisal fees (typically 400 to 600 dollars), and closing costs (often 1,000 to 2,500 dollars). Total costs can range from 5,000 to 15,000 dollars depending on the loan size. 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 does a reverse mortgage specialist in Monmouth Junction do?
A reverse mortgage specialist guides you through the loan process, explains eligibility, and helps you understand New Jersey specific requirements such as mandatory counseling. They do not provide legal advice but can refer you to a qualified attorney.
Are there New Jersey laws that affect reverse mortgages?
Yes, New Jersey requires that all borrowers receive counseling from a HUD-approved agency before applying. The state also limits the amount you can borrow based on your home value and age. You must continue to pay property taxes and homeowners insurance.
How do I choose a reverse mortgage specialist in Monmouth Junction?
Look for a specialist who is licensed in New Jersey and has experience with HECM loans. Check their credentials with the New Jersey Department of Banking and Insurance. You should also ask about fees and compare offers from multiple lenders.