Learn more about reverse mortgages

Are you a senior 62+, living in California? Are you considering a reverse mortgage as part of your financial plan? When you've worked hard your whole life, you deserve financial independence during your golden years. A reverse mortgage allows you to convert the equity you have in your home into a source of income that can be used any way you wish. Whether you want to travel, pay off high interest debts, or just have more money for daily living expenses, a reverse mortgage can help you get the cash you need.

The most common type of reverse mortgage is often referred to as a HECM, or Home Equity Conversion Mortgage. Single family dwellings, townhouses, condominiums, detached homes, and certain manufactured homes are eligible for a reverse mortgage as long as they meet the HUD minimum property standards. If needed, home repairs can be made after the closing of your loan. You're eligible for a reverse mortgage even if you didn't buy your home with FHA mortgage insurance.

All borrowers must be at least 62 years old to qualify for a reverse mortgage, but there are no income or credit requirements. The amount of your reverse mortgage is dependent upon several factors. Older borrowers are generally eligible for a larger loan than younger borrowers. The current interest rate, your home's value, the FHA mortgage limits for your area, and other loan fees may also impact the amount of money you are eligible to borrow.

American Senior Funding is committed to helping California seniors achieve their financial goals. We don't believe in high-pressure sales tactics, only caring and compassionate service. Our experienced loan officers know the special challenges seniors face and will listen carefully to your needs. We'll answer any questions that you might have in clear and easy to understand language.

To receive a free, no obligation evaluation, please fill in the form below.

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