California Purchase Reverse Mortgage2018-10-04T08:38:15+00:00

Purchasing a Home with a California Reverse Mortgage

If you are a senior (62 or over) and are planning to relocate to California or downsize into a home that better suits your current or future needs, a California Purchase Reverse Mortgage may be a perfect fit for you.

Important facts about a California Reverse Mortgage:

  • Using the proceeds from the sale of your current home or cash on hand, you will make a down payment (usually 40% to 50% of the purchase price) on your new home.
  • The balance of the purchase is covered by your California Reverse Mortgage (HECM), and any remaining funds can be used as you choose.
  • As with any home, the homeowner is responsible for paying property taxes, insurance premiums, and maintaining the home.
  • You own your home – not the bank!
  • You will make no monthly mortgage payments on the new loan for as long as you or your spouse (if applicable) live in the home.
  • You can refinance or sell whenever you want with no penalty.

Contact us for a consultation and have all of your California reverse mortgage questions answered today!

You’ll find out:

  • Do I qualify for a purchase reverse mortgage?
  • How much money can I get?
  • Is a reverse mortgage right for me?
  • How does a reverse mortgage work?
  • What kind of reverse mortgage products are available to me?

No Application Fee!