Reward yourself.
Financial freedom through a reverse mortgage.
Is a Reverse Mortgage your next best move?
A reverse mortgage is a specialized loan you may have heard about, but it’s often surrounded with conflicting information and confusion.
Working with our experienced team means you’ll get the personal attention you deserve and no hidden surprises.
PRO Tips for First-Time Homebuyers
If you’re over the age of 62 and have built equity into your home, a reverse mortgage might offer you financial freedom and the ability to stay in your home with peace of mind.
Reverse mortgages explained.
A reverse mortgage is similar to a traditional mortgage: you borrow money by using your home as collateral for the loan. You are still the homeowner and the title stays in your name.
It’s unique in that, instead of making a monthly payment, you can defer your payments, and you can even choose to receive money monthly. The payments you receive are based on your new loan terms, and are measured against the equity you’ve built in your property.
Most Common Questions
No. You will retain the title to your home as long as you meet the standard loan guidelines: maintain the property, pay property taxes, have homeowner’s insurance, pay HOA dues (if any), and avoid absences from your home longer than six months.
No. You can choose whether to continue making mortgage payments. You are responsible for paying property taxes, homeowner’s insurance, HOA dues (if any), as well as maintaining the property.
No. You’ll need to have adequate equity to qualify for a reverse mortgage, but it’s not necessary to have your home paid off. Debt from your first mortgage will be paid off at closing, when the terms of your new reverse mortgage begin.
Yes. You can sell your home at any time, and your reverse mortgage will operate like other home loans. You would pay off the reverse mortgage when the sale of the home closes. There are also no prepayment penalties.
No. A reverse mortgage is a non-recourse loan: the lender is only repaid from the proceeds of the final sale of the home, and not more than the home’s value. Even if your home decreases in value, the maximum repayment cannot be more than the value of the home when sold. They can also refinance the loan to purchase it for themselves.
Maybe. There are several factors that may impact your home’s equity, such as property appreciation, length of the loan and whether you make monthly payments. While the equity typically decreases, there can still be equity left for your children.
What People Are Saying
★★★★★ 5/5
Highly recommend Scott for all your loan needs and feel Scott deserves a 5+ star rating. Scott patiently researched various loan options until we found the right refinance for my needs. He "listens", communicates, which is high on my list, efficient and always calm. It was a pleasure working with Scott and his team.
Sarah L.
Lakeside, CA
★★★★★ 5/5
Scott went well beyond the "extra mile" to walk us through a complex process of finding the right lender and terms for our special needs. He was extremely courteous and forthright as we together worked through the various issues while he was providing solid suggestions and guidance.
Tom M.
Carlsbad, CA
★★★★★ 5/5
Scott help my husband and I re-finance our townhouse this year and made the process as easy as it possibly could be. He conducted weekly calls with us to let us know the status of the loan and what would happen next. He was always available by email and phone to answer any questions. I would highly recommend working with Scott and his team!
Heather B.
San Diego, CA