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 8 reverse mortgage specialists in Springfield, 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.
Sweet Lou Schornstein - Prime Time Mortgage Corp.
275 US-22 floor 2, Springfield, NJ 07081
9736991983
Michael Santos - Licensed Originator NMLS 199875
140 Mountain Ave, Springfield, NJ 07081
9082966608
PTMC-MORTGAGE LOANS
275 US-22, Springfield, NJ 07081
9735440708
MLB Residential Lending LLC
841 Mountain Ave Suite 400, Springfield, NJ 07081
7322430140
Camila Brum
275 US-22, Springfield, NJ 07081
9734358200
Central Jersey Mortgage Corp. NMLS# 219701
1 Cornell Pkwy, Springfield, NJ 07081
8008430058
Luisa Salazar
140 Mountain Ave # 101, Springfield, NJ 07081
9086257076
Tyler Pires LionOak Mortgage
140 Mountain Ave, Springfield, NJ 07081
9084779346
What Does a Reverse Mortgage Specialist in Springfield 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 for appraisal and title search. These fees total between 3,000 and 8,000 dollars on average. Costs vary by loan amount and property value. 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 age requirements for a reverse mortgage in Springfield New Jersey?
You must be at least 62 years old to qualify for a reverse mortgage in Springfield. All borrowers listed on the title must meet this age requirement. New Jersey follows federal HECM guidelines for age eligibility.
Do I need to attend counseling for a reverse mortgage in New Jersey?
Yes, New Jersey law requires you to complete a counseling session with a HUD-approved counselor before applying. The session covers loan terms, costs, and alternatives. You receive a certificate of completion that is valid for 180 days.
Can I lose my home with a reverse mortgage in Springfield?
You can lose your home if you fail to pay property taxes, homeowners insurance, or maintain the property. New Jersey law requires lenders to notify you before foreclosure proceedings begin. You must also live in the home as your primary residence.