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In this California Reverse Mortgage Guide, we provide information about reverse mortgages, exploring their types, qualifications, borrower rights, and the application process. Get Your Free Reverse Mortgage Guide Here!
- Is A California Reverse Mortgage Right For You?
- Largest California Reverse Mortgage Lenders
- CA Interest Rates
- Department of Housing and Urban Development Offices
- Local California Housing Counselors
Your personal circumstances are the determining factor of whether it is a good fit. Here’s what we recommend thinking about before shopping for a reverse mortgage.
More HECM loans have been originated in California than in the next two states, Texas & Florida, combined. Because of the enormous market, there is no shortage of lenders offering the product. Below, you will find a list of the largest lenders, along with a list of the largest since 2012, when major players such as Wells Fargo and Bank of America e...
Every month, the HUD publishes data on all of the reverse mortgages that closed two months prior. The data indicate the interest rate on the loan, which is likely the most reliable source for gauging the market. You may not be able to find the exact rate listed here – these are averages after all, and we receive the information on a two month delay...
Los Angeles
Serving: Los Angeles, Ventura, Santa Barbara, San Luis Obispo, Mono, Inyo, San Diego and Imperial Counties AT&T Building 611 West Sixth Street, Suite 801 Los Angeles, CA 90017 (213) 894-8000
San Francisco
Serving: San Francisco, Alameda, Contra Costa, Marin, Napa, San Mateo, Santa Clara, Sonoma, Solano, Santa Cruz, San Benito, Monterey, Del Norte, Humbolt, Mendocino and Lake Counties; Northern 23 California Counties: Alpine, Amador, Butte, Calaveras, Colusa, El Dorado, Glenn, Lassen, Modoc, Nevada, Placer, Plumas, Sacramento, San Joaquin, Shasta, Sierra, Siskiyou, Sutter, Tehama, Trinity, Tuolumne, Yolo, and Yuba Counties; Stanislaus, Madera, Merced, Mariposa, Fresno, Kings, Tulare and Kern Co...
Santa Ana
Serving: Orange, San Bernardino, and Riverside Counties 34 Civic Center Plaza, Room 7015 Santa Ana, CA 92701-4003 (714) 796-5577
You’ll need to complete mandatory counseling before finalizing your CA HECM loan, either over the phone or in person. Here is a directory of counselors in California: VENTURA COUNTY COMMUNITY DEVELOPMENT CORPORATON 2231 STURGIS ROAD, SUITE A OXNARD, CA 93030-7813 (805) 273-7800 www.vccdc.org NEIGHBORWORKS ORANGE COUNTY 128 E KATELLA AVE STE 200 ORA...
With Corona’s demographic trends indicating an increasing number of older residents, a Reverse Mortgage could offer homeowners aged 62 and older the opportunity to convert home equity into tax-free funds, supplement retirement income, pay off existing mortgages, or cover healthcare expenses, providing a viable option for leveraging ...
Dec 12, 2023 · Explore the key requirements for unlocking your home equity with a reverse mortgage in California. From age eligibility to financial assessments and mandatory counseling, this guide navigates the essential steps to secure financial freedom for seniors.
What is a Reverse Mortgage? If you are 62 or older, reverse mortgages are a way to borrow against the equity in your home (the value of your home minus any mortgage debt you may have) to provide what may be tax-free income (often referred to as cash flow). A reverse mortgage requires no scheduled loan payments until the loan ends.
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Reverse mortgages are a type of financing designed specifically for seniors who are 62 and older with a sizeable amount of home equity.
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Apr 17, 2023 · The reverse mortgage is a loan type that enables homeowners to borrow against their home’s equity without having to sell the property or make monthly mortgage payments. At this point, the borrower must repay the loan upon their death, the sale of the property, or moving out.
