Paterson Reverse Mortgage

Seniors 62 or older who need extra funds or simply interested in tapping into the equity in their home through a New Jersey reverse mortgage, will notice that fees in Paterson have dropped due to more and more banks competiting for their business. The closing cost of a New Jersey reverse mortgage has almost been cut in half. A reverse mortgage is a more common term for a Home Equity Conversion Mortgage (HECM). Here are a list of a few HECM lenders in the Passaic County area.

Paterson HECM Lender

There are a number of factors that affect whether or not you qualify for a reverse mortgage in Paterson. If you have an existing mortgage, you may not be able to qualify for a HECM/reverse mortgage. Contact a professional to discuss your options.



Paterson, NJ has an estimated population of 145542.

National reverse mortgage companies such as Bank of America, Citi, Wells Fargo and Wachovia are part of the mortgage network.