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 Bergenfield, 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.
Mohamed Illyas at CrossCountry Mortgage
107 N Washington Ave, Bergenfield, NJ 07621
2013454636
Michael Tiago - Mortgage World Bankers
297 S Washington Ave #2, Bergenfield, NJ 07621
6469393149
What Does a Reverse Mortgage Specialist in Bergenfield 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, title search, and recording. Total closing costs often range from 2,000 to 8,000 dollars depending on the property 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 qualifications does a reverse mortgage specialist need in Bergenfield?
Specialists must hold a New Jersey mortgage loan originator license. They also need HECM certification from the U.S. Department of Housing and Urban Development. Experience with Bergen County property values and local closing procedures is common.
Are there New Jersey-specific rules for reverse mortgages?
Yes. New Jersey requires a mandatory counseling session with a HUD-approved agency. The state also has a three-day right of rescission after closing. Borrowers must continue paying property taxes and homeowners insurance to avoid default.