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Browse reverse mortgage specialists serving Union City, New Jersey. Contact information and addresses listed below.
2 agents listed
Updated May 2026
Union City, 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 Union City, 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.
The Mortgage Zone
407 39th St Suite 302, Union City, NJ 07087
8662140025
Jim Kelly - 293680 - Wells Fargo Home Mortgage
614 Summit Ave, Union City, NJ 07087
6097505408
A reverse mortgage specialist in Union City New Jersey helps homeowners aged 62 and older convert home equity into tax-free funds. New Jersey law requires borrowers to complete a counseling session with a HUD-approved agency before applying. Union City residents often use these loans to supplement retirement income or pay for home repairs.
What Does a Reverse Mortgage Specialist in Union City Cost?
Typical costs for a reverse mortgage in New Jersey include an origination fee of up to 2 percent of the first 200,000 of home value plus 1 percent of the amount above 200,000, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees such as appraisal and title search. These costs usually range from 5,000 to 12,000 depending on the property value and loan type. 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 eligibility requirements for a reverse mortgage in Union City New Jersey?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The property must be your primary residence and meet HUD property standards. New Jersey law does not impose additional age or income requirements beyond federal HECM rules.
Do I need to attend counseling for a reverse mortgage in New Jersey?
Yes, New Jersey law requires all reverse mortgage applicants to complete a counseling session with a HUD-approved counselor. The session must occur before you submit your loan application. Counseling covers loan terms, costs, and alternatives like home equity lines of credit.
How much can I borrow with a reverse mortgage in Union City?
The amount depends on your age, the appraised value of your home, and current interest rates. In Union City, where home values are higher than the national median, older borrowers often qualify for larger loan amounts. The maximum claim amount for HECM loans in 2025 is $1,209,750.
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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.