Reverse Mortgages
Is a Reverse Mortgage Right for You?
Call a Certified Loan Officer at (916) 672-6130
Or Click Here 

     Reverse Mortgage Defined:
A Reverse mortgage is a lien on your home that allows a senior (62 or older) not to have to pay back the money taken from the equity in their home until which time they move out of the home, or pass away, or fail to comply with loan terms.  A senior may pay off an existing mortgage on their home with a Reverse and enjoy no monthly house payments ever again. The most common reverse mortgage offered today is the Home Equity Conversion Mortgage or HECM for short and is Insured by the Federal Housing Administration (FHA).  There are 3 basic types of Reverse Mortgage offered today and they are:

  1. HECM Fixed: Fixed monthly payments to senior no cash out.
  2. HECM Line of Credit: The most popular of the 3 in that this option allows a senior to take out the money from their equity when they need it.  If they don't use the money they are actually paid interest on it so it can grow.  
  3. HECM for Purchasing a Home:  This option is for a senior that may have a large down payment to use when purchasing a home but may not want to put the entire amount they have into a home.  They use what they want then the mortgage simply sits until one of the events happen that require the loan amount to be repaid.
 These are all Government Insured Mortgages that will not have to be paid back until a move-out situation or death.  The home is part of your estate so any existing equity will be your heir's. 

The benefits of a Reverse Mortgage are:
  1.   No Monthly Housing payments.
  2.   Take Cash for home improvement no re-pay
  3.   Take Cash and have reserve money
  4.   Take cash and have a monthly payment
  5.   Buy a home and put down enough and never have a monthly payment.
  6.  No Income qualifying other than proving you can make the Tax and Insurance yearly bills.
  7. No Credit score requirement.
  8. Supplement your Retirement Income
  9. Have a line of credit available at all times in case of an emergency.
  10. Be able to pay medical expenses
  11. Be able to pass home on to your heirs.  

          Concerns that Seniors have:

  1. Will my/our children have equity when we/me are gone?:  These mortgages are designed not to use all the equity in the home from the onset of the loan.  You could use up all the equity by living a really long time and not moving out.  There is a calculation used to determine the maximum loan to value based on your age so there will be equity left in the home over time. 
  2.  Will I/We ever have to pay back this mortgage?:  No not as long as you continue to live in the home and stay compliant with the loan terms.  If the home passes to your heirs then they will have to get another loan to pay this one off if they wish to keep the home and lenders will allow for this to happen.  The heirs will also have the right to sell the home as well.  
  3. How fast does my equity deteriorate?:  Since the loan is based on your age you will only be allowed a certain amount of your equity at the onset of the loan based on your age, the older you are the more money you are allocated, and less the younger you are.  In other words, your equity would deteriorate at the same rate mortgage payments accumulate over time, however, appreciation over time might increase more than your cumulation of payments.  If the market goes down, that is the lender's risk, not yours, you will have this loan even if the house loses value.  
  4. Does the Interest Rate matter?:  It does as the lower the rates are the less accumulated interest there will be and the more that you will be able to borrow.
  5. When I die will my kids get the house or does it go to the lender?  Your heirs will have the responsibility of selling the house or paying off the reverse mortgage if they wish to keep the home.  The mortgage becomes due and payable upon death or upon moving out of the property, but lenders will allow the heirs time to sell or pay off the loan if they wish to keep the home.  
  6. Can I Outlive the Reverse Mortgage?  The loan will remain with no monthly payments until you move out one way or another, or fail to comply with loan terms.  You could take the loan out at 62 and live to be 110 and you would never have to make a payment.
  7. How do I apply for a Reverse Mortgage? Simply call us or complete the form below and we can walk you through the process.   Just have your property tax bill ready, your current mortgage statement (if any) and your Housing Counseling Certificate, and The Declaration page of your insurance.  You have to have an approved Housing Counseling Certificate in order for us to start the process by clicking the link you can find approved Counselors in California.  We cannot recommend a counseling company or steer you into a reverse mortgage in any way.  Once you have decided a Reverse Mortgage is for you, we would love the opportunity to arrange it for you.   

Disclaimer: This material is not from HUD or FHA and has not been approved by HUD or a government agency.

Additional Resources

Click on resources to be taken to the page:
  1. HUD Approved Counseling Agencies:  All Reverse mortgages require seniors to have outside independent counseling before they can apply for a reverse mortgage.

Call Today to get Started
Or Click Here

keywords: California Revers mortgage, reverse mortgage lenders in California, Reverse mortgage California, where do I get a reverse mortgage, who

does reverse mortgages, what is a reverse mortgage, define reverse mortgage, can i qualify fo a reverse mortgage, reverse mortgage in Sacramento, reverse mortgage lenders in Rocklin, reverse mortgage lenders Roseville, reverse mortgage loans, reverse mortgage loans who does them, who funds reverse mortgages, reverse mortgage financing, what is a reverse mortgage, reverse mortgage experts, best reverse mortgage, best reverse mortgage, Google reverse mortgage, facts about reverse mortgages, pro and cons of reverse mortgages, benefits of a reverse mortgage, FAQ about reverse mortgage, Rocklin Reverse Mortgage, Roseville Reverse Mortgage, Sun City Reverse Mortgages, Rossmore Reverse Mortgage, AARP-approved reverse mortgage, FHA Reverse Mortgage, Local Reverse Mortgage Lenders, how to complete a reverse mortgage, information on Reverse Mortgages, Reverse Mortgage Counseling, California Reverse Mortgage Lenders, who's who in Reverse Mortgages rays umbrella, Definition of a Reverse Mortgage, who qualifies for a Reverse Mortgage,  How old do I have to be to get a Reverse mortgage, what are the rule of a Reverse Mortgage, what are the rule of a Reverse mortgage, how does a reverse mortgage work, Sun City Reverse Mortgage specialist, Roseville CA Reverse Mortgage Specialist, Sun City Reverse mortgage specialist, Rossmore reverse mortgage specialist, who does reverse mortgages, reverse mortgage lenders, list of northern Californa reverse mortgage companies, Rocklin Reverse Mortgage, how do I see if I qualify for a reverse mortgage, can I pay bills with a reverse mortgage, can I get my house fixed up with a reverse mortgage, Rocklin Reverse Mortgage, Placer County  Reverse Mortgage, Reverse mortgage lenders placer county, Placer County reverse mortgage, reverse mortgage counseling, reverse mortgage counseling, counselling for Reverse Mortgages, help with reverse mortgages, find reves mortgage lenders, list all reverse mortgage lenders in California, show all Placer County Reverse mortgage lenders, what is the process getting a reverse mortgage, how do I get a Reverse Mortgage, what changes are happening to Reverse Mortgages, Who does Reverse mortgages in Sun City Roseville, Who does Reverse Mortgage in Sun city Lincoln, Who does Reverse Mortgages in retirement communities. Can I do a reverse mortgage to fix my home up, can I get a reverse mortgage to lower my mortgage payment, loans for seniors, senior loans, Reverse mortgage purchase loan, what is a reverse mortgage, and Reverse Mortgage Information, How does a Reverse Mortgage work, Local Reverse mortgage lender, Sun City Reverse Mortgage Lenders how do i get a reverse mortgage, Rocklin reverse mortgage, counseling for a reverse mortgage, over 62  home loans, google reverse mortgage, google who has reverse mortgages near me, google find me a reverse mortgage, google find reverse mortgage lenders, google find best Reverse mortgage options, google find information on reverse mortgages, google find the top reverse mortgage loan officer, senior home loans, Reverse home loan, cash from seniors house, Reverse mortgage near me, best reverse mortgage, top reverse mortgage lender, reverse mortgage lenders near me, top reverse mortgage lenders in California, Reverse Mortgage to supplement retirement, Reverse mortgage line of credit, adjustble reverse mortgage, Line of Credit, Reverse mortgage cousleors, reverse mortgage education, slhould I do a revers mortgage

MAE Capital Real Estate and Loan

CA DRE #01913783|NMLS #806170

4940 Pacific Street Suite A
Rocklin, CA 95677