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Find Reverse Mortgage Specialists Near You in Summit, NJ
Browse reverse mortgage specialists serving Summit, New Jersey. Contact information and addresses listed below.
3 agents listed
Updated May 2026
Summit, 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 3 reverse mortgage specialists in Summit, 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.
Steven Luzzi at CrossCountry Mortgage
7 Union Pl 2nd floor, Summit, NJ 07901
8777731226
Jacqueline Koven at CrossCountry Mortgage
7 Union Pl 2nd floor, Summit, NJ 07901
7323007452
Michael Fattore - Chase Home Lending Advisor - NMLS ID 601221
67-69 Summit Ave, Summit, NJ 07901
9082968104
A reverse mortgage specialist in Summit, New Jersey helps homeowners aged 62 and older convert home equity into tax-free funds without monthly mortgage payments. New Jersey law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage (HECM). Summit residents often use reverse mortgages to supplement retirement income or cover home repairs in Union County.
What Does a Reverse Mortgage Specialist in Summit 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 appraisal fees ranging from 400 to 800 dollars. Closing costs often total between 3,000 and 8,000 dollars. These costs are usually rolled into the loan balance. 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 Summit New Jersey?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The property must be your primary residence, and you must complete a HUD-approved counseling session. New Jersey law also requires a property appraisal to determine the home value.
How does a reverse mortgage affect my heirs in New Jersey?
Heirs can keep the home by paying off the loan balance or selling the property. If the loan balance exceeds the home value, heirs are not personally liable for the difference under New Jersey law. They have up to 30 days after the last borrower dies to decide.
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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.