In 2024, there were 211 active reverse mortgage loans in Cape May County, New Jersey. The average home value in Cape May County is $874,900.93.

Click here to get a reverse Mortgage Quote in Cape May County, New Jersey

To avoid scams, make sure you are working with a licensed lender in New Jersey. South River Mortgage is a fully licensed lender in New Jersey. The NJ state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Residential Mortgage Lender License Licensed by the New Jersey Department of Banking and Insurance in NJ, and our state license identifier is 1854525.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Cape May County

Located in the state of New Jersey, Cape May County is a coastal region known for its pristine beaches, charming small towns, and historical landmarks. With a population of around 90,000 residents, the county enjoys a moderate climate and is a popular destination for tourists and retirees seeking a picturesque coastal environment. Cape May County has a rich history, dating back to its role in the American Revolution and the Civil War. The county is also famous for its Victorian architecture, with many well-preserved buildings from the 19th century. For seniors looking to utilize their property wealth, considering a reverse mortgage could be a viable option given the county’s average home value of $874,900.93 and average property tax of $5,865.93, coupled with an average interest rate of 4.35%. Reverse mortgages can provide financial stability for seniors by allowing them to access the equity in their homes while still retaining ownership.

Reverse Mortgage Loan Origination in Cape May County

Reverse Mortgage Home Values in Cape May County

Reverse Mortgage Interest Rates Cape May County

There are approximately 211 active reverse mortgage loans in Cape May County. The average interest rate in Cape May County is 7.45% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Cape May County was $909,230.77 in 2024.

Click here to get a Reverse Mortgage Quote in Cape May County, New Jersey »

Note that our loan origination data will not exactly match FHA’s HECM portfolio snapshot. This discrepancy occurs because FHA’s reports are limited to loans endorsed by FHA (i.e. HECMs only). We use a series of custom data criteria that make it possible to identify all reverse mortgages: HECMs, proprietary, and even single-purpose reverse mortgages.

Jumbo Reverse Mortgage in Cape May County, NJ

With the average home value of $909,230.77, you may be wondering about the opportunities for jumbo loans.

The FHA has increased the HECM lending limit to $1,209,750 for 2025. If your property is valued above the HECM lending limit, you may be eligible for additional proceeds through the HomeForLife jumbo reverse mortgage.

Reverse Mortgage Refinance (HECM to HECM) in Cape May County

It might make sense to refinance your reverse mortgage. There are many situations where refinancing could be very beneficial to you:

• You want to get more cash out because your home value has increased substantially
• You want to pay less in interest by obtaining a lower interest rate
• You want to add a loved one to the reverse mortgage

As a bonus, South River Mortgage can sometimes provide multiple benefits at once, depending on the situation. There have been cases where we can help secure a lower interest rate and additional cash. In some cases, we have been able to do all three benefits: lower rate, more cash, and adding a son or daughter onto the mortgage.

South River Mortgage can help you refinance your reverse mortgage. Get a quote today »

Reverse for Purchase (HECM for Purchase) in Cape May County

You can now purchase a home with a reverse mortgage in {county}, NJ. The reverse for purchase lets homebuyers purchase the home and get a reverse mortgage in a single transaction. The requirements for a reverse for purchase are very similar to the traditional reverse mortgage program.

Purchasing a home with a reverse mortgage has many benefits:

• No monthly mortgage payment (although you’d still be responsible for property taxes and homeowner’s insurance)
• The home being purchased would meet HUD’s property requirements or minimum property standards (this helps keep the home safe for occupants)

Learn what your down payment would be using our Reverse for Purchase calculator. Or, get pre-approved today »