Reverse Mortgage Newport Beach

Confidently secure your loan with Reverse Mortgage Newport Beach today! Our specialists are committed to matching you with the best lender for your scenario, saving you time and money!

schedule a meeting

search homes

Loan process

Reverse Mortgage Newport Beach FAQs

What is the average fee for a reverse mortgage?

2% of the first $200,000 in property value and 1% of any amount above that. A maximum origination cost of $6,000 is allowed. If your house is worth less than $125,000, a lender may charge a HECM origination fee of up to $2,500.

What credit score is needed for a reverse mortgage?

There is no minimum credit score needed for a reverse mortgage, because the key thing lenders want to know is whether you can handle the recurring expenses required to keep the house in good condition. Lenders will, however, check to determine if you have any outstanding federal debt.

What are the 3 types of reverse mortgages?

Reverse mortgage loans are classified into three types: those insured by the Federal Housing Administration (FHA), proprietary reverse mortgage loans that are not insured by the FHA, and single-purpose reverse mortgage loans offered by state and local governments.

What do you pay monthly on a reverse mortgage?

Borrowers do not make monthly mortgage payments with a reverse mortgage loan, unlike with a standard mortgage. When the borrower repays the loan. Each month, interest and fees are added to the loan total, which causes it to rise.

Do you get all the money at once with a reverse mortgage?

You can receive your money in three ways: as a line of credit, as a monthly payout, or as a lump sum settlement. The term “principal limit” refers to your borrowing limit. It considers your age, your loan’s interest rate, and the value of your house.e.

Who owns the house after a reverse mortgage?

No. When you take out a reverse mortgage loan, you keep the title to your house. Home Equity Conversion Mortgages are the most common type of reverse mortgage (HECMs).

Is a reverse mortgage a good idea for seniors?

The Bottom Line. If you’re an older homeowner who intends to stay put, a reverse mortgage could be a smart method to fund your retirement. This is especially true for seniors whose wives are over the age of 62 and are eligible to be included as co-borrowers on the loan.

Who are the top real estate agents we recommend?

Which home search websites would you suggest?

Yes, we recommend: BuyDeluxeHome | Beverly Hills Houses For Sale | Santa Monica Houses for Sale | Houses for Sale in Malibu

Do you have any other offices?

Yes, we have several offices. Each of them can help you with your financing needs throughout the state of California as well as most states. Our offices include: Mortgage Broker Beverly Hills | Mortgage Broker Calabasas | Mortgage Broker Glendale | Mortgage Broker Pasadena | Mortgage Broker Santa Monica | Reverse Mortgage Newport Beach

Begin your Journey

You should have access to the most recent and reliable data when buying, selling, refinancing, or getting a reverse mortgage on a house in Newport Beach. For this purpose, we have teamed up with BuyDeluxeHome.com, which boasts state-of-the-art real estate technology and data that is both completely accurate and updated every 5 minutes. With our partnership with BuyDeluxeHome.com, you have access to the same MLS® data and information used by local real estate agents. Have more questions about the reverse mortgage, buying, selling, or refinancing process? Click below to Learn more.

search homes

schedule a call

loan process

Reverse Mortgage Newport Beach | About Us

Reverse Mortgage Newport Beach is a full-service mortgage lender, specializing in providing reverse mortgages for homeowners in the Newport Beach area. Our mission is to help seniors age 62 and older enjoy a comfortable retirement by providing them with financial security through reverse mortgages.

Since we opened our doors in 2007, Reverse Mortgage Newport Beach has been working hard to help seniors take advantage of the unique benefits of a reverse mortgage. We are proud to provide our clients with a personalized approach to their financial needs, ensuring they understand all the options available to them and helping them select the best loan program for their individual situations.

At Reverse Mortgage Newport Beach, we understand the importance of customer service. Our knowledgeable and experienced staff are available to help individuals and families understand their options, answer questions, and provide guidance throughout the loan process. We also offer a variety of educational resources to help our clients better understand reverse mortgages and the home equity conversion mortgage (HECM) program.

Our commitment to customer service and our expertise in reverse mortgages makes us the top choice for seniors in the Newport Beach area. We are dedicated to helping our clients achieve financial freedom and ensuring that their retirement years are enjoyable and rewarding.

We look forward to helping you secure your financial future with a reverse mortgage. Contact Reverse Mortgage Newport Beach today to find out more about our services and how we can help you make the most of your retirement years.

Reverse Mortgage Newport Beach | Loan Process

We at Reverse Mortgage Newport Beach know that getting a loan is a major decision. Because of this, we want to make the process as easy and smooth as we can. We really care about giving our clients the best service, from the moment they say yes to the day they move out. Our team is proud of how hard we work to help you get the loan you need. We try to give you solutions that are unique and fit your needs, so you can feel at ease throughout the process.

Step 1 – Schedule a Call

📃

Step 2 – Make a Plan of Action with us

🏘️

Step 3 – Confidently submit your Application

📑

Step 4 – We’ll manage the Loan from Approval to Closing