What is a Reverse Mortgage?


A reverse mortgage definition is as follows: It is a special type of loan for homeowners 62 years or older allowing them to convert a portion of the equity in their homes into cash.

Unlike a traditional home equity loan or second mortgage, the loan generally does not need to be repaid until you no longer live in your home as your principal residence in the Arroyo Grande area, or you fail to meet the obligations of the mortgage.

It is important to understand how reverse mortgages work:

  • No loan payments due from you as long as you remain in the home
  • Reverse mortgages are designed to be paid off once you no longer live in the home
  • Your debt obligation can never exceed the value of your home

We are reverse mortgage lenders in the Arroyo Grande area that have a proven track record of reliability. Call us today!

Benefits of Reverse Mortgages for the Arroyo Grande Homeowner


As with many programs and plans, there are reverse mortgage pros and cons that we can review with you.

These are some of the potential benefits:

  • No financial penalty if you choose to prepay the loan
  • Guaranteed monthly income, or guaranteed credit line
  • The debt is limited to the value of your home
  • You cannot lose your home for non-payment
  • Social Security and Medicare benefits are unaffected

It should be noted that the interest on reverse mortgages is compounded, meaning you are paying interest on both the principal and the interest that has accrued monthly, causing the outstanding amount to grow at an increasingly fast rate.

We can review the pros and cons of reverse mortgages for residents of the Arroyo Grande area.

Call or schedule a consultation with us to learn more about this type of loan.

Reverse Mortgage Lenders helping arroyo grande residents


When considering reverse mortgages, it is vitally important that you understand their options, and if it is the right course of action for you to take.

We have built a reputation as one of the finest mortgage brokers serving residents of the Arroyo Grande area. Part of what we do includes assisting those over 62 years of age who are considering reverse mortgages by reviewing how the program may work for you, its advantages and disadvantages, and discussing the pros and cons to help avoid making critical mistakes.

Most importantly, however, we can help in aligning you with the right reverse mortgage:

  • Reviewing and analyzing reverse mortgage rates 
  • Consulting with you to ensure all of the details are handled

Call Brian Lardner for an experienced and knowledgeable reverse mortgage lender. 805-434-5226