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Looking for a reverse mortgage specialist in Newton? Review the directory below to compare your options.
3 agents listed
Updated May 2026
Newton, 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 3 reverse mortgage specialists in Newton, 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.
Nations Lending - Bruce Laukaitis Team - Newton, NJ Branch - NMLS: 2521274
55 Trinity St Unit 1, Newton, NJ 07860
9735750097
Movement Mortgage
28 Trinity St #1, Newton, NJ 07860
8773141499
PNC Mortgage
136 Water St, Newton, NJ 07860
9733831165
What Does a Reverse Mortgage Specialist in Newton Cost?
Typical costs for a reverse mortgage in New Jersey include an origination fee (up to 2 percent of the home value, capped at $6,000), a mortgage insurance premium (2 percent of the appraised value upfront plus 0.5 percent annually), and third-party fees for appraisal, title search, and recording. Total closing costs often range from $5,000 to $15,000 depending on the home value and lender. These costs are usually financed into the loan. 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 Newton New Jersey?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The property must be your primary residence. New Jersey law also requires you to complete HUD-approved counseling before applying.
How does a reverse mortgage affect my heirs in New Jersey?
Heirs can repay the loan balance or 95 percent of the home's appraised value, whichever is less, to keep the home. If they sell the home, proceeds go to the lender first, and any remaining equity goes to the estate. New Jersey law does not allow the lender to take more than the home is worth.
Are reverse mortgage proceeds taxable in New Jersey?
Loan proceeds from a reverse mortgage are not considered income by the IRS or the state of New Jersey. They are tax-free. However, interest on the loan is not deductible until you pay it back. Consult a tax professional for your specific situation.
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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.