The most popular kind of reverse mortgage in NJ, the House Equity Conversion Mortgage (HECM), is a unique home loan available only to homeowners aged 62 and above. Similar to a standard mortgage. A lender cannot grant a HECM valued greater than $726,525 because of FHA regulations. The option for high-value homeowners is referred to as a jumbo mortgage. Jumbo reverse mortgages in NJ allow retirees over 62 with homes worth enough to borrow more than the FHA threshold to do so up to a maximum of $6 million.