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Find Reverse Mortgage Specialists in Plainsboro Township, NJ
Compare reverse mortgage specialists in Plainsboro Township. Review contact information and insurance categorys before you decide.
2 agents listed
Updated May 2026
Plainsboro Township, 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 Plainsboro Township, 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.
777 Scudders Mill Rd, Plainsboro Township, NJ 08536
6403562666
A reverse mortgage specialist in Plainsboro Township, New Jersey helps homeowners aged 62 and older convert home equity into loan proceeds. New Jersey law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage (HECM). Specialists guide clients through the process, including understanding the non-recourse feature that protects heirs from owing more than the home is worth.
What Does a Reverse Mortgage Specialist in Plainsboro Township Cost?
Typical costs for a reverse mortgage 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 such as appraisal and title search. Total closing costs often range from 2,000 to 7,000 dollars. 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 are the eligibility requirements for a reverse mortgage in Plainsboro Township?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The home must be the primary residence and meet FHA property standards. New Jersey law also mandates a mandatory counseling session with a HUD-approved counselor.
How does New Jersey law affect reverse mortgage proceeds?
New Jersey does not tax reverse mortgage proceeds as income. However, borrowers must continue to pay property taxes and homeowners insurance. Failure to pay these can lead to loan default and foreclosure, as per New Jersey foreclosure laws.
Can a reverse mortgage be foreclosed in New Jersey?
Yes, if the borrower fails to pay property taxes, insurance, or maintain the home. In New Jersey, the lender must follow the state foreclosure process, which typically takes 6 to 12 months. The non-recourse feature ensures that the borrower or heirs never owe more than the home is worth.
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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.