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Reverse Mortgage Specialists in South Plainfield, NJ
Looking for a reverse mortgage specialist in South Plainfield? Review the directory below to compare your options.
4 agents listed
Updated May 2026
South Plainfield, 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 4 reverse mortgage specialists in South Plainfield, 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.
Alliance Mortgage
900 Oak Tree Ave suite b, South Plainfield, NJ 07080
9082229511
Lava Mortgage Solutions LLC
51 Cragwood Rd Suite 305, South Plainfield, NJ 07080
8483918624
Kwik Mortgage Corporation
1 Cragwood Rd #103a, South Plainfield, NJ 07080
8882517283
Shreshth Bansal Mortgage Originator
900 Oak Tree Ave suite b, South Plainfield, NJ 07080
9082409153
Reverse mortgage specialists in South Plainfield, New Jersey help older homeowners access home equity without monthly payments. These professionals must follow New Jersey state regulations, including mandatory counseling by a HUD-approved agency. South Plainfield residents can use reverse mortgage proceeds for home repairs, healthcare, or daily expenses while retaining home ownership.
What Does a Reverse Mortgage Specialist in South Plainfield Cost?
Typical costs for a reverse mortgage 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 for appraisal, title search, and recording. Total closing costs often range from 2,000 to 5,000 dollars, but can be higher for high-value homes. New Jersey law requires lenders to provide a detailed cost estimate before closing. 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 age and occupancy requirements for a reverse mortgage in South Plainfield?
Borrowers must be at least 62 years old and use the home as their primary residence. New Jersey law requires the property to be a single-family home, a two-to-four unit property with one unit occupied by the borrower, or a HUD-approved condominium. Manufactured homes may qualify if they meet FHA standards.
Is reverse mortgage counseling required in New Jersey?
Yes, New Jersey law mandates that all reverse mortgage applicants complete a counseling session with a HUD-approved counselor before applying. The counseling covers loan terms, costs, and alternatives. The counselor must be independent from the lender.
What happens if a borrower moves out or passes away?
If the borrower moves out for more than 12 consecutive months or passes away, the loan becomes due. Heirs have 30 days under New Jersey law to decide whether to repay the loan or sell the home. The borrower or estate is not personally liable for any deficiency if the home sale does not cover the loan balance.
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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.