Compare New Jersey's Best Reverse Mortgages
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Top 10 Reverse Mortgage Lenders in New Jersey
|Lender Name||Years in Business||Rating||Stars (0-5.0)||Positive Reviews||Complaints||BBB Reviews|
|All Reverse Mortgage, Inc. (ARLO)||15||A+||4.9||99%||1||Source|
|American Advisors Group (AAG)||14||A-||4.1||82%||53||Source|
|Longbridge Financial, LLC||6||A+||3.5||70%||2||Source|
|Reverse Mortgage Funding LLC||6||A+||3.0||50%||8||Source|
|One Reverse Mortgage, LLC (QUICKEN)
|Liberty Home Equity Solutions, Inc. (OCWEN)||15||A+||2.1||42%||2||Source|
|Retirement Funding Solutions (RFS)||9||A+||(N/A)||(N/A)||1||Source|
|Fairway Independent Mortgage||23||A+||2.1||42%||21||Source|
|HighTech Lending Inc.||13||A-||2.0||60%||2||Source|
|Finance of America Reverse LLC (FAR)||15||A+||1.0||20%||2||Source|
All Reverse Mortgage® is proud to be New Jersey's #1 Rated Reverse Mortgage Lender celebrating 16 years of excellence. We are the only NJ company awarded an A+ Rating by the BBB with perfect 5-Star Reviews.
Since we started in 2004, our goal has remained simple: to offer the best terms with unbeatable customer service.
Compare our competitive rates and lower costs to any competitor and realize thousands more from your home’s equity!
The difference is clear, and we can’t wait to show you!
New Jersey Reverse Mortgage Facts
Top 10 Reverse Mortgage Cities in New Jersey by MCA (April 2020)
|State||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® of New Jersey
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 much lower Principal Limits as they relate to values though so not all borrowers are better served with the jumbo programs.
Only 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 as well.
New Jersey Lending Limits
“The Garden State” has a population of 8,908,520 and 560,300 of those people are homeowners aged 62 and older, which means well over a half-million people may be eligible for a reverse mortgage.
The average home value in New Jersey is $198,377, which is much lower than the HECM reverse mortgage lending limit of $822,375.
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. New Jersey has the distinction of being one of the original 13 colonies which revolted against the British Crown in the mid-18th century, and therefore became one of the original United States. Both the British and American Continental Armies crossed paths numerous times across the landscape of New Jersey, giving it a nickname as “the Crossroads of the American Revolution.”
On Christmas night in 1776, Continental Army commander General George Washington and his men crossed the Delaware River, surprising the mercenary Hessian troops who fought on behalf of the British and defeated them in the Battle of Trenton. Washington would later launch a surprise attack on the British forces at Trenton in early January 1777, defeating the Crown’s forces there as well.
After the successful separation from Britain, New Jersey became only the third state to ratify the United States Constitution, and would go on to become the first state to ratify the first ten amendments to the Constitution known collectively as the “Bill of Rights.”
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 was notable as a Union state which never sided with President Abraham Lincoln in either of the presidential elections in which he was a major party nominee, in 1860 and 1864 respectively. Lincoln’s Democratic opponent in 1864, former General George B. McClellan, resided in New Jersey and later became the state’s governor during the era of post-war reconstruction.
In the 20th century, New Jersey prospered during the 1920s but was drawn into the economic upheaval of the Great Depression. During both World Wars, New Jersey was a major location for wartime manufacturing, particularly for naval ships.
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, 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.
If you reside in New Jersey, All Reverse Mortgage® is here to answer your questions.
Other Areas of Interest in New Jersey
New Jersey Approved Reverse Mortgage Counseling Agencies
|Agency Name||Phone||Address||Website||Agency ID||Languages|
|SENIOR CITIZENS UNITED COMMUNITY SERVICES OF CAMDEN COUNTY, INC.||856-456-1121-141||537 W Nicholson Rd|
Audubon, New Jersey 08106-1970
|COUNTY OF BERGEN, DEPARTMENT OF HUMAN SERVICES, DIVISION OF SENIOR SERVICES||201-336-7400||1 Bergen County Plz Fl 2|
Hackensack, New Jersey 07601-7075
|FAMILY GUIDANCE CENTER CORPORATION||609-586-2574||1931 Nottingham Way|
Hamilton, New Jersey 08619-3554
|GARDEN STATE CONSUMER CREDIT COUNSELING, INC. D/B/A/ NAVICORE SOLUTIONS||732-409-6281||200 U.S. Highway 9 North|
MANALAPAN, New Jersey 07726-3072
|NAVICORE SOLUTIONS - MANALAPAN, NJ||732-409-6281||200 US Highway 9|
Manalapan, New Jersey 07726-3072
|AFFORDABLE HOUSING ALLIANCE, INC.||732-389-2958||3535 Route 66 Ste 4|
Neptune, New Jersey 07753-2625
|FAITH FELLOWSHIP COMMUNITY DEVELOPMENT CORPORATION||732-727-9500||2707 Main St|
Sayreville, New Jersey 08872-1457
|CCCS OF DELAWARE VALLEY, INC. DBA CLARIFI||800-989-2227||595 Rancocas Road|
WESTAMPTON, New Jersey 08060-5628
Did you know? New Jersey state does not mandate in-person counsleing. Visit our counseling page for a list of phone-based counseling agencies and conduct your required counseling from the comfort of your home.
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently brought exclusive offers to our valued New Jersey homeowners. Because of our unique process we're able to offer a better federally-insured reverse mortgage with no compromise.
Take a look at some of our competitive rates that you won't find elsewhere:
|Exclusive 3.06% (4.06% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 2.23% with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Plans|
|ZERO Financed Closing Cost Plans|
|ZERO Monthly Servicing Fees on ALL programs|
How can we offer you more favorable terms?We are a direct lender approved by FHA (Federal Housing Administration) The HECM is literally all we do. All Reverse Mortgage is not just a name for us. We have a very low (almost non-existent) staff turnover and our people are experts. We don't work with Brokers, allowing us to pass the savings on to you. We don't hire "celebrity" spokespersons as we don't believe you should have to pay for a lender's expensive marketing budget with higher loan costs. We Charge Less! Check out our competition and our customer ratings. We never forget that this loan is about you and your needs and we put you first with superior service and lower costs.
All Reverse vs. the others
HUD approved direct lender.
Working with a local New Jersey lender saves you time and money.
As an award-winning direct lender our goal remains simple; to offer you the very best terms accompanied by extraordinary customer service.
What Our Customers Are Saying
|"There was no car salesman type of protracted negotiation. All reverse got right down to a good quote without a series of incremental steps."|
|"I was surprised how easy it was to deal with an out of state company. Actually it was much easier than my previous dealings with local banks and brokers"|
|"It is a wonderful feeling to have no mortgage and extra cash in our pocket. We are very happy."|
|"Thank you to All Reverse for handling everything in an efficient and smooth way. Thoroughly appreciate everything you have done to make things easy for me."|
|"This was the smoothest mortgage process I have ever experienced! And so fast!"|