Reverse Mortgage Company Serving Temecula California
We are a local reverse mortgage company serving Temecula and entire state of California. Reverse mortgages are the only types of loans we originate and we pride ourselves in being true specialists in delivering personalized reverse mortgage solutions. If you're seeking experience and knowledge in reverse mortgages, look no further than John Correll who's been originating mortgages for more than 25 years. John holds the CRMP designation as a Certified Reverse Mortgage Professional which signifies a deep commitment to everything related to reverse mortgages.
Reverse Mortgages Are All We Do
What Temecula Homeowners Should Know About Reverse Mortgages
In Temecula, California, the surge in property values in recent years has resulted in significant home equity potential for long-time homeowners. Home equity is the difference between a home's value and the amount of money owed on the home. Home equity has become a valuable asset, especially for an older homeowner when inflation is everywhere these days. One popular solution in retirement is to access part of the home's wealth with a reverse mortgage. If you're seeking an expert in the area of reverse mortgages, consider reaching out to John Correll. Unlike many large lenders lenders with huge call centers, we're locally based in Southern California and offer in-home appointments in Temecula which can make a meaningful conversation about reverse mortgages easier. Reverse mortgages can often times seem confusing but John is prepared to explain everything in an easy to understand manner and can answer your toughest reverse mortgage questions. (888) 603-1550
Find Out What a Reverse Mortgage in Temecula or California Might Look Like For You
About Temecula California
Temecula is a beautiful city in Riverside County California. With a population of around 111,000 per US census data, Temecula is a thriving Southern California city with a lot to offer. It is celebrated for its stunning landscapes, rich history and mild weather which makes it so desirable. This city is a mix of suburban lifestyle surrounded by a thriving wine region, making it a popular place to visit.
Six popular places and events in Temecula, California
- Temecula Valley Wine Country: Explore over 40 wineries offering wine tastings and scenic vineyard views.
- Promenade Temecula: A shopping and entertainment venue with many shops, restaurants, a movie theater, and an outdoor play area.
- Temecula Valley Museum: Explore local history, from the indigenous people and early settlers with lots of exhibits and artifacts.
- Pechanga Resort Casino: Experience one of the largest casinos in California and its resort.
- Temecula Valley Balloon & Wine Festival: An annual event featuring hot air balloon rides, live music, wine tastings, and family-friendly activities.
- Vail Lake: Reservoir offering outdoor activities like hiking, fishing, and camping in a natural setting.
Booming Real Estate in Temecula California Presents a Window for Reverse Mortgage Home Equity Solutions
In Temecula, strong property values can offer a great chance for some older homeowners to tap into part of their home equity through reverse mortgages, which are designed just for them. These loans can be used for various needs, from making home improvements, lowering monthly expenses, hiring a caregiver, taking vacations, or enhancing retirement.
Temecula and California residents can explore reverse mortgages, including "proprietary" or "jumbo" options that allow for larger equity access (up to $4 million). John Correll at Accurate Reverse Mortgage specializes in these loans, offering in-home consultations for convenience.
If you're curious about reverse mortgages, call us at (619) 294-9820 or (888) 603-1550. John Correll and his team are here to help you understand if a reverse mortgage is right for you.
Reverse Mortgage Loan Choices in California: Navigating Temecula's Home Equity
If you're 55 or older and own a home in Temecula or anywhere in California, you could have choices with a reverse mortgage and your home equity. Accurate Reverse Mortgage Corp. is local in Southern California and specializes in originating reverse mortgages for seniors throughout California.
Accurate Reverse Mortgage is licensed to serve the reverse mortgage needs of the entire state of California.
Temecula Reverse Mortgage
Imagine leveraging some of your home equity as a flexible financial resource for your retirement today. If you're 55 or older, own your primary residence in Temecula or California, and meet certain criteria, a reverse mortgage loan could make this possible.
Use Equity While Living in Current Home
A Home Equity Conversion Mortgage, or reverse mortgage, is a mortgage that could allow you to borrow against some of the equity in your home much the same as a regular mortgage in Temecula but with a few key differences unique to reverse mortgages.
Temecula Reverse Mortgage Eligibility Criteria
Just like other mortgage products, a reverse mortgage has specific qualifications:
- Age: You must be 55 or older (62 for a HECM).
- Primary Residence: The property must be your primary residence, and you must live there. Extended nonmedical absences may trigger repayment.
- First Mortgage Position: The reverse mortgage must be the in the first mortgage lien position, either by paying off and refinancing your existing mortgage into the reverse mortgage or your home must be owned outright.
- Financial Assessment: As part of the underwriting process, the lender will assess your ability to cover property taxes, insurance, and maintenance plus your other existing expenses.
- Federal Debt: No delinquencies on federal debt.
- Property Eligibility: Owner Occupied Home. Single family, 2-4 unit homes occupied by the borrower, PUD (planned unit development) single family homes, some condos and some manufactured homes may qualify.
- Counseling: You must have a counseling conversation session with a HUD-approved counselor to obtain a reverse mortgage. This can be done by phone or in person.
Helpful Resources for California Homeowners Interested in Reverse Mortgages
Expand Your Understanding of California Reverse Mortgages with These Additional Reading Materials.
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Strategies to Supplement Income With a California Reverse Mortgage
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Long-term Care and In-Home Care Using a Reverse Mortgage in California
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What is a Reverse Mortgage Line-of-Credit and How Does It Work in California?
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How Do Interest Rates in California Impact a Reverse Mortgage?
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What Are the Steps To Apply For a Reverse Mortgage in 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.…
Ready to explore how a reverse mortgage might align with your retirement goals?
John Correll, CRMP
Certified Reverse Mortgage Professional
(888) 603-1550
Offering in-home appointments in Temecula and parts of Southern California
(serving the entire state of California)
