Isolina Fernandez-Kirchner

Mortgage Banker NMLS#: 49153

Contact me today!


Phone: 800-908-0005 Ext 7173
Reverse Mortgages

New Jersey And New York Reverse Mortgages

NJ Lenders Corp. is a leading Reverse Mortgage lender in New Jersey and New York.  Our loan officers are trained on the latest trends in this very important mortgage loan category.  When obtaining a reverse mortgage, it is critical to choose an established Mortgage Company that has the knowledge and experience to handle your important transaction.

A reverse Mortgage is the opposite, or "reverse" of a conventional mortgage. There are no monthly payments required.  Instead, a reverse mortgage is a loan that can result in a payment to you each month. The loan balance is only repaid when the home is sold or you no longer occupy as a primary residence. With a Reverse Mortgage you also retain ownership and title to the home.

Reverse Mortgages are becoming more popular for a many reasons 

A growing population of seniors - Many people over the age of 62 are having difficulty keeping up with bills. A Reverse Mortgage allows them to stay in the home while collecting a payment each month to cover normal living expenses.

Increased Loan Limits - As the demand for Reverse Mortgage loan programs have grown, more and more lenders are offering the product option.   The loans are typically Government insured which allows loan limits to be approved based on a maximum home value  $679,650.

The Ability To Turn Your Equity Into Income - Why not let your largest investment start working for you later in life.  Whether traveling, paying medical expenses, improving your home, or adding a little extra money to your monthly budget - you now have an opportunity to put this equity to good use.

Reverse Mortgage Features

• No monthly payment due. Instead, you receive a payment each month if you choose too. (If your loan scenario and approval allows)

• Income and Credit is considered when qualifying

• Title and ownership of your home are retained

• All Proceeds from a Reverse mortgage are not subject to personal income taxation 

Reverse Mortgage Eligibility

• You must be at least 62 years of age

• You must occupy the home as a primary residence

• The home must be a single-family or a two-to-four unit dwelling

• Most townhomes, planned unit developments (PUDs), detached homes, FHA approved condominiums and some manufactured homes are eligible 

 

Get started now

To learn more about the reverse mortgage process and your eligibility, call 1-800-908-0005.  You may also submit your inquiry online.