New Jersey Reverse Mortgage Lenders
All Reverse Mortgage® is a HUD approved lender working directly with homeowners through all of New Jersey state. All Reverse began in November 2007 and as the name implies, the only loan product that All Reverse Mortgage® originates is the federally-insured home equity conversion mortgage.
For over a decade we have been offering our reverse mortgages to New Jersey homeowners and maintain an Exemplary A+ Rating by the BBB.
We are proud to have become NJ’s #1 rated reverse mortgage lender with a perfect 5.0-5.0 star rating.
New Jersey Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in New Jersey
||Avg. Home Value
HUD Approved Direct Lender
All Reverse Mortgage® is approved with the Department of Housing and Urban Development (HUD) to originate,
underwrite and close the HUD Home Equity Conversion Mortgage (HECM, or "Heck-um"). The HECM is HUD's acronym for their reverse mortgage loan.
All Reverse Mortgage® originates in New Jersey and closes both refinance loans, where borrowers already own their home and are looking
to either pay off their existing loan and have no more monthly mortgage payment, utilize their equity for other purposes if they have no existing loan,
or possibly a combination of both
About All Reverse Mortgage®
The owners and management of All Reverse were part of the team that wrote and sold the first fixed rate jumbo reverse mortgage in 2008 and as such,
have extensive experience in jumbo or proprietary loan programs as well. We are always looking for new products to offer to borrowers of high valued homes
in the higher home priced markets that the HUD HECM may just not serve as well. Jumbo or proprietary programs typically offer lower Principal Limits as they
relate to home values, though, so not all borrowers are best served with the jumbo programs available.
A seasoned originator can readily inform borrowers which program will best suit their needs and the positives and negatives of each so that the borrower
can make an informed decision. It is no longer uncommon anywhere in the country for a market to be a solid HUD HECM market and then within just a short
distance for a niche jumbo market to be located where there is a need for a jumbo program.
Therefore, homeowners aged 62 and above in all markets have seen that the reverse mortgage can be a very solid financial tool and many are now seeking
the reverse mortgage to augment their retirement plans and not so much the mortgage of last resort. Everything from the elimination of existing mortgage payments
to the line of credit that grows make reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably in their
family home, but to plan for the future as well.
New Jersey Lending Limits
The Garden State, located in the Northeastern part of the country, had a total population of 8,944,469 people in
2016 and 697,675 of those residents are homeowners 62 and older. The state is bordered by New York to the north
and east, and on the southeast and south is the Atlantic Ocean.
In New Jersey’s early years, the Dutch were the first Europeans to claim the area, but Native Americans lived in the area for more than 2,800
years before that. In the 19th century, much of the state’s economic growth came from factories that were established throughout the Industrial
Revolution in Camden, Paterson, Newark, Trenton and Elizabeth, New Jersey.
New Jersey’s prime location between Boston and New York City as well as its close proximity to Philadelphia, Baltimore and Washington D.C. helped
the state grow through suburbanization in the second half of the 20th century.
Today, the New Jersey’s economy is centered around the pharmaceutical industry, the financial industry, chemical development, telecommunications,
food processing, printing, publishing and tourism.
New Jersey has been a point of tourism for many reasons. One reason being its close location to Canada as well as its gambling and
entertainment opportunities in Atlantic City. The first legalized casino opened in Atlantic City in 1978 — at the time Las Vegas was
the only mega-casino resort area.
Today, the housing economy in New Jersey is doing fairly well. Currently, the median home value in the state is $304,100, which is an
increase of 5.2% from last year. It is predicted that home values will rise again by 3.1% in the next year.
If you reside in New Jersey, All Reverse Mortgage® is here to answer your questions. Call Toll Free (800) 565-1722 – Or try ARLO™ our revolutionary reverse mortgage calculator that offers side-by-side program comparisons, real-time interest rates and expert recommendations.
Other Areas of Interest in New Jersey