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Reverse Mortgage Specialists in Pompton Plains, NJ
Looking for a reverse mortgage specialist in Pompton Plains? Review the directory below to compare your options.
2 agents listed
Updated May 2026
Pompton Plains, 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 Pompton Plains, 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.
Dave Taormina at Rate (NMLS #215662)
913 NJ-23 Suite 212, Pompton Plains, NJ 07444
9736320370
Craig Smith at Rate (NMLS #252528)
913 NJ-23 Suite 212, Pompton Plains, NJ 07444
9739398677
A reverse mortgage specialist in Pompton Plains, New Jersey helps homeowners aged 62 and older convert part of their home equity into tax-free funds. Under New Jersey law, borrowers must complete a HUD-approved counseling session before obtaining a Home Equity Conversion Mortgage (HECM). Pompton Plains residents often use these funds to supplement retirement income or cover home repairs.
What Does a Reverse Mortgage Specialist in Pompton Plains Cost?
Typical costs for a reverse mortgage specialist in New Jersey include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees such as appraisal and title search. These costs can range from 2,000 to 5,000 dollars or more, depending on the home 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 are the eligibility requirements for a reverse mortgage in Pompton Plains?
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, and you must complete a HUD-approved counseling session. New Jersey law requires the counselor to be certified by the U.S. Department of Housing and Urban Development.
How does New Jersey law protect reverse mortgage borrowers?
New Jersey has a three-day right of rescission, allowing you to cancel the loan without penalty within three business days of closing. The state also requires lenders to disclose all fees and terms clearly. Additionally, you cannot be forced to repay the loan as long as you live in the home and meet your obligations.
Can I lose my home with a reverse mortgage in Pompton Plains?
You can lose your home if you fail to pay property taxes, homeowners insurance, or maintain the property. New Jersey law requires lenders to provide annual statements showing your loan balance. You must also continue to live in the home as your primary residence.
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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.