Placer County Reverse Mortgage Specialists
If you live in Placer County and want to work with a local reverse mortgage specialist you have come to the right place. Because we are local, we can meet with your face to face in the comfort of your own home or at one of our offices.
We specialize in the Home Equity Conversion Mortgage or HECM (HECK-UM), also known as a reverse mortgage. It is all we do. When you work with us you know that you are working with loan officers that are going to be able to answer all your questions. And not only answer your questions, but structure the loan in a way that will meet your financial needs now and into the future.
What Sets Us Apart from Other Reverse Mortgage Lenders in Placer County
We are a direct lender – What that means is that originate, process, underwrite, fund and service all of our loans. The last part, we service our loan, we have found is very important to our clients in Placer County. They want to know that they will be working with us for the life of their loan.
We are referral based – Unlike several other lenders, we don’t spend millions of dollars a year on advertising. Because of this we can pass those savings on to your in the form of better interest rates and lower fees.
Continuous training – Our loan officers are required to attend continuous training on the reverse mortgage loan options as well as advanced planning and utilization techniques to ensure all of our clients in the Placer County area are being served in the best way and their reverse loans are structured properly.
What is a Reverse Mortgage?
Very simply, it is just like a regular mortgage with the exception that there are no monthly mortgage payments required. You still need to pay property taxes, insurance and maintain the home.
It is regulated by HUD and insured by FHA.
The Basics
- At least one spouse must be 62 or older.
- Your home in Placer County must be your primary residence.
- You can get a loan on a single family, multi family up to 4 units, town home, HUD approved manufactured home and FHA approved condominiums.
- You will be required to attend counseling from a HUD approved counselor.
- You must continue to pay your property taxes, insurance and other property charges.
- The amount you can borrow is based on the youngest persons age, home value and current interest rates.
- You can access your home equity as a lump sum, line of credit, month payments for as long as you live in the home, monthly payments for a specific period of time or a combination of those options.
Have Questions About Getting a Reverse Mortgage in Placer County?
There is no doubt that you have questions about getting a reverse mortgage in Placer County. We are happy to answer every question you have about this loan product.
Questions like:
- What is the downside to a reverse mortgage?
- What are the pros and cons of a reverse mortgage?
- How much can you borrow with a reverse mortgage?
- Is the reverse mortgage a good idea?
- Does it make sense to get a reverse mortgage?
- Does my home in Placer County qualify for a reverse mortgage?
- How does a reverse mortgage work?
- Are there risks to getting a reverse mortgage?
- What happens to the reverse mortgage when I die?
- Is the reverse mortgage a good fit for me?
While there are general answers to these questions. The answers will vary from each individual person. This is why you should talk with one of our local Placer County experts so you can get a personalized answer to your unique situation.
Cities We Service in Placer County
We work with clients in every city in Placer County. Here are the five cities where we see the most clients. These are of course the cities with the most population.
What to Expect When You Call Us
When you call don’t expect to be sold something. That is not how we operate. We are consultants not salespeople.
We are going to ask about some things the people consider personal. Things like your income, assets, credit history.
We want to know about you, the problems you are facing, the things that have you worried and other options you have considered.
We want to make sure that the reverse mortgage is a right fit for you. But we also want to make sure that it is structured to meet your needs and hopefully your wants as well.
Believe it or not. Sometimes the lowest rate and lowest fees are not the right choice. I know that sounds weird, but depending on your goals and needs, a higher interest rate loan could be the right choice for you.
We look forward to hearing from you and learning more about you and how we can help. Give us a call today.
Call us at 916-780-6111