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 5 reverse mortgage specialists in Medford, 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.
Medford Mortgage
32 S Main St, Medford, NJ 08055
6098485715
Thomas Wolff, Mortgage Broker NMLS 28763
180 Tuckerton Rd #7, Medford, NJ 08055
6092844440
Savings Home Mortgage LLC
22 Coates St Ste 2C, Medford, NJ 08055
8886166857
Ed Muchnick - Gateway Mortgage
620 Stokes Rd suite d, Medford, NJ 08055
8564529143
Doug Arena - Gateway Mortgage
620 Stokes Rd suite d, Medford, NJ 08055
8564529150
What Does a Reverse Mortgage Specialist in Medford Cost?
Typical costs for a reverse mortgage in New Jersey include an origination fee 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. In Medford, total closing costs often range from 5,000 to 10,000 dollars 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 does a reverse mortgage specialist in Medford do?
A reverse mortgage specialist in Medford helps seniors understand and apply for Home Equity Conversion Mortgages (HECMs). They explain eligibility, loan terms, and the mandatory counseling required by New Jersey law. They also assist with property valuation and closing documents.
Are there New Jersey laws that affect reverse mortgages?
Yes, New Jersey requires borrowers to complete a counseling session with a HUD-approved counselor before applying. The state also limits origination fees and requires lenders to disclose all costs clearly. New Jersey law protects surviving spouses and non-borrowing spouses in certain cases.
How do I choose a reverse mortgage specialist in Medford?
Look for a specialist licensed in New Jersey with experience in HECM loans. Check their credentials with the National Reverse Mortgage Lenders Association. Ask about their familiarity with Medford property values and local housing market trends.