What is a Reverse Mortgage?

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Reverse mortgages enable Chula Vista, CA homeowners 62 and over to convert some of the equity in their homes into cash, which can be used to pay for medical needs, everyday living expenses, home improvements, holidays, or to improve the quality of retirement life. With reverse mortgages, seniors in Chula Vista do not have to take on any new monthly mortgage payments. However, they are still required to pay their homeowners insurance and property taxes.

In this type of loan, the reverse mortgage lenders make payments to the senior homeowners in Chula Vista, instead of the seniors making monthly payments to the lenders. In order to qualify for reverse mortgages, the borrower in Chula Vista must:

  • Be 62 or older
  • Have the home ownership
  • Occupy the property as the principal residence

At Brian Lardner, our goal is to help Chula Vista seniors understand reverse mortgage pros and cons, and whether or not this type of loan product is right for their financial situation.

Benefits of Reverse Mortgages for the Chula Vista Homeowner

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Do you need to pay off debt, fund medical expenses or help out your grandchildren? If you are a homeowner in Chula Vista, reverse mortgages may make your retirement life more smooth and enjoyable. Benefits include:

  • Receive payments instead of making them
  • Retain the title to the property
  • Social security or Medicare benefits will be unaffected

Reverse mortgages can be a complex transaction, and therefore, you need a dedicated mortgage broker to help you understand your options and to find you right reverse mortgage in the Chula Vista area.

Reverse Mortgage Lenders for Chula Vista Residents

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Homeowners in Chula Vista should hire us to find the right reverse mortgage because we believe you deserve the best deal at the best price possible. Whether you wish to use reverse mortgages to pay bills, or to improve your cash flow, you will enjoy a financial independence with a loan that is safe and secure.

Borrowers in Chula Vista can choose the way they receive reverse mortgage proceeds to meet their financial needs and essentials. Proceeds can be obtained in the form of:

  • A lump sum
  • Monthly payments
  • A line of credit
  • Any combination of the above

As mortgage brokers, we specialize in helping seniors supplement retirement income. With extensive experience, we have developed the ability to analyze and structure the right reverse mortgage for our Chula Vista clients.

We would love an opportunity to compare different reverse mortgages, finding the one that best fits our Chula Vista clients' needs and circumstances. Call Brian Lardner today at 805-434-5226.