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Compare Reverse Mortgage Specialists in Scotch Plains, NJ
Looking for a reverse mortgage specialist in Scotch Plains? Review the directory below to compare your options.
2 agents listed
Updated May 2026
Scotch Plains, 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 Scotch Plains, 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.
American United Mortgage Corporation
210 Haven Ave, Scotch Plains, NJ 07076
9083225423
Joe Farella - Mortgage Lender - American United Mortgage Corporation
210 Haven Ave, Scotch Plains, NJ 07076
9083328335
A reverse mortgage specialist in Scotch Plains, New Jersey helps seniors access home equity without monthly payments. New Jersey law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage. Scotch Plains residents can use these loans for home repairs, medical expenses, or supplementing retirement income.
What Does a Reverse Mortgage Specialist in Scotch Plains 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 and title search. These costs often range from 5,000 to 15,000 dollars depending on the home value. 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 in Scotch Plains need?
A specialist must be licensed by the New Jersey Department of Banking and Insurance. They should also hold a HUD certification for HECM loans. Many have experience with local property values in Union County.
How does New Jersey law affect reverse mortgage terms?
New Jersey requires a 10-day right of rescission after closing. The state also mandates that borrowers receive a list of approved housing counselors. Interest rates and fees must be disclosed clearly under New Jersey consumer protection laws.
Can I use a reverse mortgage on a condo in Scotch Plains?
Yes, but the condo complex must be FHA-approved. New Jersey has many condo associations that meet this requirement. Your specialist can verify if your building qualifies for a HECM loan.
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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.