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 4 reverse mortgage specialists in West Long Branch, 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.
Atlantis Mortgage Co Inc
55 Oceanport Ave, West Long Branch, NJ 07764
7329631616
Fidelity Residential
121 NJ-36 #230, West Long Branch, NJ 07764
7326869999
Perfectum Mortgage
241 Monmouth Rd suite 101a, West Long Branch, NJ 07764
9083120100
Allstate Mortgage Corporation
1090 Broadway, West Long Branch, NJ 07764
7322223600
What Does a Reverse Mortgage Specialist in West Long Branch 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 upfront plus 0.5 percent annually, and third-party costs such as appraisal and title fees. Total closing costs often range from 5,000 to 15,000 dollars depending on the property value and loan type. 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 need in New Jersey?
In New Jersey, a reverse mortgage specialist must hold a valid mortgage loan originator license. They must also complete annual continuing education on reverse mortgage rules. Specialists often have additional training through the National Reverse Mortgage Lenders Association.
Are there age requirements for a reverse mortgage in West Long Branch?
Yes, the youngest borrower must be at least 62 years old. This is a federal requirement for all Home Equity Conversion Mortgages insured by the FHA. New Jersey law does not change this age minimum.
How does a reverse mortgage affect property taxes in New Jersey?
A reverse mortgage does not change property tax obligations. The borrower must still pay property taxes on time to avoid foreclosure. New Jersey offers property tax relief programs like the Homestead Benefit for eligible seniors, which can continue after obtaining a reverse mortgage.