Jersey Mortgage Company Reverse Mortgage Review

Jersey Mortgage Company Reverse Mortgage is offered by Jersey Mortgage Company (NMLS #2761), a direct lender founded in 1938 and based in Cranford, NJ. Jersey Mortgage Company Reverse Mortgage is available in 5 states across the USA.

What types of reverse mortgages does Jersey Mortgage Company Reverse Mortgage offer?

Jersey Mortgage Company Reverse Mortgage allows borrowers to apply for the following types of reverse mortgage.

Lump sum. The borrower can access the entire amount immediately. However, you will need to pay interest on the entire amount regardless of whether you spend it.

Monthly disbursement. With this option, you get a monthly allowance. This is a good option if you need an additional source of income to cover your living expenses. It can be used in combination with a line of credit for additional flexibility.

What fees does Jersey Mortgage Company Reverse Mortgage charge for a reverse mortgage?

Jersey Mortgage Company Reverse Mortgage may charge a loan origination fee.

What types of property can you use as security for a reverse mortgage with Jersey Mortgage Company Reverse Mortgage?

Lenders often have restrictions on the type of properties they will accept as security for a reverse mortgage. Jersey Mortgage Company Reverse Mortgage will consider lines of credit secured by the following property types:

• Primary home