Bergen County Reverse Mortgage (HECM)Access Home Equity for Retirement - Age 62+ Required
FHA-insured reverse mortgages help Bergen County seniors 62+ access home equity without monthly payments.
Why Choose Reverse for Your Bergen County Home?
No Monthly Payments
Receive funds without making monthly mortgage payments.
Loan repaid when you sell, move, or pass away. Property taxes and insurance still required.
Stay in Your Home
Continue living in your Bergen County home for life.
You retain title and ownership as long as you occupy the home and maintain it.
FHA-Insured Protection
Home Equity Conversion Mortgage (HECM) backed by FHA.
Cannot owe more than home value. Non-recourse loan protects heirs.
Supplement Retirement
Use funds for healthcare, home repairs, or living expenses.
Tax-free proceeds (consult tax advisor) to supplement Social Security and retirement income.
Reverse Mortgage (HECM) Requirements
- Age 62+ (all borrowers on title must be 62+)
- Primary residence in Bergen County
- Sufficient home equity (typically 50%+ depending on age)
- Property must meet FHA standards
- Complete HUD-approved counseling session
- No income or credit requirements (but must demonstrate ability to pay taxes/insurance)
- Must pay property taxes, homeowners insurance, and maintain property
Reverse Mortgages (HECM) Available in All 70 Bergen County Towns
Serving 955,732 residents across Bergen County. Click any town for local market data and Reverse loan options.
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Your Path to Reverse Approval in Bergen County
Initial Consultation
Initial meetingLearn if reverse mortgage is right for your Bergen County situation.
HUD Counseling
Day 1-7Complete required independent counseling session (phone or in-person).
Application
Day 7-10Submit application with property and personal information.
Appraisal & Review
Day 15-25Property appraised to determine maximum loan amount.
Closing
Day 40-60Sign documents and receive reverse mortgage proceeds!
Frequently Asked Questions
How much can I borrow with a Bergen County reverse mortgage?
Depends on age, home value, and current interest rates. Typically 40-60% of home value. Older borrowers and higher home values allow larger loans.
What happens to my Bergen County home when I pass away?
Heirs can pay off the reverse mortgage and keep the home, or sell the home and keep any remaining equity. This is a non-recourse loan - heirs never owe more than home value.
Will I lose my home with a reverse mortgage?
No, as long as you live in the home as your primary residence, pay property taxes and insurance, and maintain the property. You retain title ownership.
Bergen County Market Overview
Start Your Reverse Mortgages (HECM) Journey in Bergen County Today
Get pre-approved and start shopping in any of Bergen County's 70 towns with confidence
NMLS #1577754 | Equal Housing Opportunity