In 2024, there were 1236 active reverse mortgage loans in Ocean County, New Jersey. The average home value in Ocean County is $553,752.48.

Click here to get a reverse Mortgage Quote in Ocean 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 Ocean County

Ocean County, New Jersey, is a beautiful coastal county known for its stunning beaches, vibrant boardwalks, and picturesque waterfront communities. With a population of approximately 607,186 residents, Ocean County offers a mix of suburban and beach town living, making it a popular destination for both tourists and full-time residents alike. The county experiences a moderate climate with warm summers and cool winters, perfect for enjoying outdoor activities all year round. Historically, Ocean County has deep roots in maritime history, with its coastal location attracting settlers and traders since the early colonial days. Today, the county is known for its bustling tourism industry, drawing visitors from near and far to its sandy shores and lively beach towns such as Seaside Heights and Point Pleasant. For seniors looking to tap into their home equity, Ocean County’s average home value of $553,752.48, combined with an average property tax of $6,024.11 and an average interest rate of 4.37%, make it an ideal location to consider a reverse mortgage as a financial option for retirement planning.

Reverse Mortgage Loan Origination in Ocean County

Reverse Mortgage Home Values in Ocean County

Reverse Mortgage Interest Rates Ocean County

There are approximately 1236 active reverse mortgage loans in Ocean County. The average interest rate in Ocean County is 7.62% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Ocean County was $536,294.96 in 2024.

Click here to get a Reverse Mortgage Quote in Ocean 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 Ocean County, NJ

With the average home value of $536,294.96, 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 Ocean 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 Ocean 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 »