Find Reverse Mortgage Specialists Near You in Union City, NJ
Browse reverse mortgage specialists serving Union City, New Jersey. Contact information and addresses listed below.
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
State Mortgage Licensing Authority of New Jersey before hiring.
Showing 2 reverse mortgage specialists in Union City, 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.
What Does a Reverse Mortgage Specialist in Union City Cost?
Typical costs for a reverse mortgage in New Jersey include an origination fee of up to 2 percent of the first 200,000 of home value plus 1 percent of the amount above 200,000, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees such as appraisal and title search. These costs usually range from 5,000 to 12,000 depending on the property value and loan type. This is general information and 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 Union City New Jersey?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The property must be your primary residence and meet HUD property standards. New Jersey law does not impose additional age or income requirements beyond federal HECM rules.
Do I need to attend counseling for a reverse mortgage in New Jersey?
Yes, New Jersey law requires all reverse mortgage applicants to complete a counseling session with a HUD-approved counselor. The session must occur before you submit your loan application. Counseling covers loan terms, costs, and alternatives like home equity lines of credit.