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 6 reverse mortgage specialists in Millburn, 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.
Peter Grabarits at Rate (NMLS #1299691)
75 Main St Suite 205, Millburn, NJ 07041
9735218340
Jon Lamkin at Rate (NMLS #143207)
75 Main St Suite 205, Millburn, NJ 07041
9732199282
Barbara Scalera at Rate (NMLS #1718764)
75 Main St Suite 205, Millburn, NJ 07041
9737138269
Christine Zuidema at Rate (NMLS #90201)
75 Main St Suite 205, Millburn, NJ 07041
9738095246
Jeff Greenberg at Rate (NMLS #11624)
75 Main St Suite 205, Millburn, NJ 07041
9739398667
Rate
75 Main St Suite 205, Millburn, NJ 07041
9735422848
What Does a Reverse Mortgage Specialist in Millburn Cost?
Typical costs for a reverse mortgage specialist in New Jersey include an origination fee of up to 2 percent of the home value (capped at $6,000), 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 $5,000 to $15,000 depending on the home value and loan type. These costs can be financed into the loan. 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 should a reverse mortgage specialist in Millburn have?
A qualified specialist should hold a valid New Jersey mortgage loan originator license and have experience with HECM products. They should also be familiar with New Jersey property tax deferral programs for seniors, which can work alongside a reverse mortgage.
Are there New Jersey-specific rules for reverse mortgages?
Yes. New Jersey requires a mandatory counseling session with a HUD-approved counselor before loan approval. The state also has a 3-day right of rescission after closing, and borrowers must continue to pay property taxes and homeowners insurance to avoid default.