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 Waretown, 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.
Len Herbert - Advisors Mortgage Group
461 US-9, Waretown, NJ 08758
7326845771
Advisors Mortgage Group - Waretown
461 US-9, Waretown, NJ 08758
7322923133
Smart Home Mortgage
461 US-9 #2, Waretown, NJ 08758
6403562221
What Does a Reverse Mortgage Specialist in Waretown 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. Total closing costs often range from 5,000 to 10,000 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 does a reverse mortgage specialist do in Waretown?
A specialist guides you through the reverse mortgage process, explains loan terms, and helps you apply. They must follow New Jersey regulations, including the requirement for third-party counseling. They do not provide financial advice but can explain how the loan works.
Who is eligible for a reverse mortgage in 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. New Jersey law also requires you to attend a counseling session with a HUD-approved agency.
Are reverse mortgages regulated differently in New Jersey?
Yes, New Jersey has specific rules. Lenders must be licensed by the New Jersey Department of Banking and Insurance. Borrowers have a three-day right to cancel after closing. Also, New Jersey law prohibits lenders from requiring you to buy other financial products.