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Reverse Mortgage Funding LLC

in Reverse Mortgages

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Reverse Mortgage Funding LLC

Unaffiliated

in Reverse Mortgages

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Overview

Where does Reverse Mortgage Funding LLC do business?

Reverse Mortgage Funding LLC is based in Bloomfield, NJ. The company was founded in 2012 and offers reverse mortages in 48 states (and Washington, DC).

What types of reverse mortgages does Reverse Mortgage Funding LLC offer?

Reverse Mortgage Funding LLC 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.

A line of credit. This is a more flexible option that allows borrowers to only borrow (and pay interest) on the amount they withdraw from their line of credit. In the case of reverse mortgages, the amount of cash available in your line of credit increases as time goes by.

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 Reverse Mortgage Funding LLC charge for a reverse mortgage?

Reverse Mortgage Funding LLC may charge a loan origination fee of $2500 to $6000

There is also a one-time counseling fee of $125 to consider.  

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Contact

  • Headquarters
  • 1455 Broad Street,
    2nd Floor
    Bloomfield, NJ 07003 USA
  • Visit Site

Availability

Available in 48 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Origination Fee ($)
$2,500 - $6,000
Counseling Fee
$125
Minimum Age
62

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