Retirement Solutions in Palm Springs With Reverse Mortgage Products
We operate as a Southern California-based Reverse Mortgage Company assisting residents in Palm Springs, Riverside County and all of California. With expertise in HECM and Jumbo Reverse Mortgage loans, we're a reliable resource for knowledge and guidance on obtaining a reverse mortgage during your retirement. John Correll, boasting over 25 years of experience in mortgage lending, is a Certified Reverse Mortgage Professional (CRMP) ready to leverage his experience on your behalf.
Give us a call at (888) 603-1550.
Reverse Mortgages in Palm Springs CA
Examining the Use of Reverse Mortgages in Palm Springs California
Property values in Palm Springs, California have significantly increased recently. If you've owned a home in California for a number of years, you probably have substantial home equity today. With inflation impacting our finances, many older homeowners in Palm Springs and Riverside County are considering reverse mortgages to access some of the wealth tied up in their homes.
If you're seeking a knowledgeable professional in reverse mortgage strategies, we encourage you to contact John Correll. He has over 25 years of experience in the mortgage industry, specializing in reverse mortgages, and has a proven record of assisting Palm Springs and California communities.
Choose John Correll, CRMP for Your Palm Springs Reverse Mortgage Needs
(888) 603-1550
Serving the Entire Great State of California
Many Palm Springs Residents Have Benefited from Reverse Mortgages – Learn How!
Request Your Personalized Reverse Mortgage Proposal Quote and Info Kit
Our personalized reverse mortgage package includes detailed information about what you might qualify for including current rates, lending limits, side-by-side comparisons of multiple products and choices, amortization schedules, closing costs estimates and multiple resource books to help you decide if a reverse mortgage is appropriate for you.
Selecting the Right Reverse Mortgage Loan Type in Palm Springs and California
As a leading Southern California Reverse Mortgage Company, we realize that not every client has the same needs. We offer a diverse array of types of reverse mortgages across California so create custom solutions.
All of our reverse mortgage loan products are available statewide in California.
Discover Beautiful Palm Springs, California and the Potential for Reverse Mortgages
Palm Springs, California, is a sunny desert city known for its unique mid-century modern architecture, which is a cool and stylish part of its character. Located in Riverside County, the population of Palm Springs is around 45,000 per US Census data. The city offers plenty of activities and attractions, from art galleries to outdoor adventures and a range of relaxation options at various resorts. It's a versatile destination, suitable for both vacations and as a place to call home, with something to suit different preferences and interests.
Six exciting things to see in Palm Springs CA:
- Moorten Botanical Garden: Explore diverse cacti and succulents from around the world in this picturesque garden.
- Palm Springs Art Museum: Dive into art collections and exciting exhibitions at the city's museum.
- Palm Springs Aerial Tramway: Experience stunning Coachella Valley views on the world's largest rotating tramcar.
- Indian Canyons: Enjoy hiking and picnicking in beautiful canyons with a rich cultural history.
- Elvis Honeymoon Hideaway: Step into pop culture history with a tour of Elvis Presley's former Palm Springs home.
- Joshua Tree National Park: Discover surreal landscapes and unique rock formations in this nearby national park, ideal for nature enthusiasts.
Capitalizing on Rising Home Prices in Palm Springs Which Create the Opportunity With Reverse Mortgages
If you're an older homeowner in Palm Springs you have probably seen your home go up in value with the surge in real estate in Southern California. Now if you are looking to access your home's value without selling, consider a reverse mortgage. These loans are designed for older homeowners and, if you meet the requirements, they could allow you to use some of your home's equity while still living in it. If your loan is approved, you can use the money for various purposes, such as covering expenses or enhancing your retirement.
For guidance on reverse mortgages, turn to John Correll, a loan specialist at Accurate Reverse Mortgage. If you're interested in learning how a reverse mortgage could benefit you or exploring your options, please give us a call at (888) 603-1550. John Correll and his team are here to provide you with the information and support you need to make an informed decision.
Real Estate Trends in Palm Springs and Role of Reverse Mortgages
Reverse Mortgage Company Serving Palm Springs, CA
Six great reasons to consider a reverse mortgage in Palm Springs
-
Get Cash From Current Home: With a reverse mortgage, older homeowners who qualify can get money from part of the value they've built in their home, which can be used for things like home improvements or travel.
- No More Monthly Mortgage Payments: Reverse mortgage borrowers won't have to worry about making monthly mortgage payments with a reverse mortgage. This means more money for other needs or fun activities in retirement. Just remember, the borrower does still have to pay for things like property taxes, insurance, and home maintenance in order to keep the loan in good standing.
- Stay in Current Home: The borrower can stay in their home without having to sell it or move out with a reverse mortgage. The home stays in your name as long as they meet the loan requirements.
- Choose How To Get Paid: The borrower can pick how they want to receive the money from their reverse mortgage. Choices include a lump sum, monthly payments, or a line of credit based on what works best for their finances and lifestyle.
- Financial Safety Net: A reverse mortgage can be like a financial safety net, giving the borrower peace of mind in retirement. It can help maintain their Palm Springs and California lifestyle and handle unexpected expenses confidently.
-
Tax-Free Funds*: The money paid out from a reverse mortgage is considered loan proceeds, which means the borrower doesn't have to worry about taxes on those funds. It can help make the most of your finances in retirement. * not tax advice - consult your tax advisor.
Basic Requirement to Qualify For a Reverse Mortgage in Palm Springs and California
-
Age: You or your spouse should be at least 62 years old - age 55 on proprietary reverse mortgages
- Own Your Home: You must own your home or have a mortgage that can be paid off with the reverse mortgage. Does require "substantial" equity.
- Live in Your Home: Your home must be where you live most of the time and remain current home during life of the loan.
- Type of Home: Your home should be a single-family house, 2-4 unit home, certain condos, or specific manufactured homes.
- Financial Ability: You should be able to cover property taxes, home insurance, and other home-related costs and underwriting will do a "financial assessment".
- Get Counseling: You need to attend a meeting with an approved advisor to understand how reverse mortgages work.
- No Default: You can't be behind on any federal debts.
-
Meet Lender's Rules: You must meet the lender's specific requirements, like credit history and income.
Use John Correll's extensive 25 years in mortgages to assist you or your family in obtaining a reverse mortgage.
John Correll, CRMP
Certified Reverse Mortgage Professional
(888) 603-1550
Specializing in Reverse Mortgage in Palm Springs, Riverside County and all of California
Choosing the Right Reverse Mortgage Lender or Broker in California
This article reviews some of the key factors in selecting a reverse mortgage lender or broker in California. This guide simplifies the process, explaining what to consider when choosing a company to work with on a reverse mortgage from the loan officer, lender vs broker and what to look out for and avoid. Written from the prospective of a CRMP which stands for Certified Reverse Mortgage Professional.
Inflation in California and the Role of Reverse Mortgages
This article will explore ways a Reverse Mortgage in California may help combat the rising costs associated with inflation. Presented by John Correll, CRMP certified reverse mortgage professional in California.
Getting a Reverse Mortgage in California? Things to Consider
presented by John Correll, CRMP – Certified Reverse Mortgage Professional in California Are You Considering a Reverse Mortgage in California? Essential Things to Keep in Mind For many older residents in California, considering a reverse mortgage can be a smart financial move. With the state’s high living costs, funding retirement can be tough. A…
Using a Reverse Mortgage Line of Credit for In-Home Care in California: A Simple Guide and Strategy
Using a Reverse Mortgage Line of Credit to Cover Homecare or Long-Term Care Expenses in San Diego and California Introduction As we age, planning for in-home care becomes more important, especially in a state like California where everything is expensive. A strategy that has worked well for many older homeowners is a reverse mortgage line of credit.…
