Alameda County California Reverse Mortgage

Your Alameda County Reverse Mortgage Guide

Welcome to Alameda County

If you are a Alameda County homeowner aged 62 or older, you may be eligible for a reverse mortgage loan. This type of loan allows you to access your home’s equity without making monthly payments. Instead, the loan is repaid when you sell the home or pass away. Reverse mortgage loans can provide financial support and security for seniors in Alameda County, allowing them to age in place and enjoy the comfort and familiarity of their own homes. Don’t let your hard-earned equity go to waste – consider a reverse mortgage loan and see how it can benefit you and your family in retirement.

Reverse Mortgage

Explore the possibilities of a Reverse Mortgage! Free yourself from worrying about monthly bills and take back control of your financial future. With a Reverse Mortgage, you can unlock the power of your home’s equity while maintaining ownership of your home. Find out today how you can start on the road to financial freedom.

Learn More about a Reverse Mortgage

Reverse Mortgage for Purchase

Did you know you can use a reverse mortgage to purchase a new home? A reverse mortgage for purchase allows seniors to buy a new home without making any monthly mortgage payments. Instead of getting an upfront lump sum payment like other reverse mortgages, the loan is used to purchase a new primary residence.

Learn More about a Reverse Mortgage for Purchase

HECM to HECM Refinance

A HECM (Home Equity Conversion Mortgage) to HECM refinance, also known as a HECM loan refinance, is a type of reverse mortgage that allows a borrower to refinance an existing HECM loan with a new one. This can be beneficial for several reasons, such as lowering your interest rate, changing the loan terms, accessing additional equity, and improving your financial situation.

Learn More about a HECM to HECM Refinance

Cash Out Reverse Mortgage

A Reverse Mortgage allows you to take cash out of your house and use the equity in your home for the things you want. You can receive your cash as a lump sum, fixed monthly payment, or line of credit.

Learn More about a Cash Out Reverse Mortgage

Jumbo Reverse Mortgage

A Jumbo Reverse Mortgage is a reverse mortgage that allows homeowners to borrow more money than allowed with a traditional HECM reverse mortgage. This is because a Jumbo Reverse Mortgage is not limited by the same lending limits set by the Federal Housing Administration (FHA) for standard HECM loans. With a Jumbo Reverse Mortgage, you can access more of the equity in your high-value home.

Learn More about a Jumbo Reverse Mortgage

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Alameda County Approved Reverse Mortgage Counseling Agencies

HUD Approved HECM Counseling Agencies

The following is the internet website address and telephone number provided by HUD for the purposes of acquiring HECM counseling:

National Counseling Agencies

ClearPoint Financial Solutions
(800) 251-2227
https://www.clearpoint.org/

Money Management International
(877) 908-2227
https://www.moneymanagement.org/

Credit.org
(800) 947-3752
https://www.homeownership.org/

National Foundation for Credit Counseling
(866) 698-6322
https://www.nfcc.org/

Greenpath
(888) 860-4167
https://www.greenpath.com/

Navicore
(866) 855-7736
https://navicoresolutions.org/

Guidewell Financial Solutions
(800) 882-6171
https://www.guidewellfs.org/

NeighborWorks America
(202) 760-4000
https://www.neighborworks.org/

Housing Options Provided for the Elderly (HOPE)
(844) 432-6467
https://hopeforseniorsstl.org/

California Counseling Agencies

Alameda County California Frequently Asked Questions

How does a Reverse Mortgage work in Alameda County California?

A reverse mortgage in Alameda County, California, works similarly to a reverse mortgage in other parts of the country. The basic principle is that it allows homeowners 62 years of age or older to borrow money against the equity in their home without having to make monthly payments. Instead, the loan becomes due when the borrower moves out of the house permanently, sells the home, or passes away.

To obtain a reverse mortgage in Alameda County, California, the borrower must meet with a reverse mortgage lender and go through a counseling session to ensure that a reverse mortgage is a suitable choice for them. The lender will also appraise the home to determine its value and the amount the borrower is eligible to borrow.

Do I make mortgage payments on my Reverse Mortgage in Alameda County?

No, you do not have to make payments on your reverse mortgage. You are still obligated to pay your property taxes, homeowners insurance, general home maintenance and upkeep, and any HOA fees, if applicable. The benefit of a reverse mortgage is that you do not have to make a regular monthly mortgage payment.

What qualifies for a reverse mortgage in Alameda County?

A reverse mortgage loan is only available to seniors who are age 62 or older. This type of loan has been designed to help provide a solution to allow seniors access to equity in their homes while still living there. To qualify for a reverse mortgage, you must:

  • The youngest borrower on the loan must be 62 years old or older
  • Having an existing mortgage loan balance is OK as long as there is sufficient equity in the home
  • It must be your primary residence, not rental homes or vacation homes
  • Reverse mortgage loans are available as refinance or purchase loans.

How do I receive my money when I get a reverse mortgage?

With a Reverse Mortgage, borrowers have the flexibility to choose how they want to receive their loan proceeds. This can include receiving the funds in one lump sum, periodically accessing them through a line of credit, receiving regular monthly payments, or a combination of these options. Speak with a licensed Reverse Mortgage Lender to discuss your options.

About Alameda County California

Welcome to Alameda County, California! Located in the heart of the San Francisco Bay Area, Alameda County is a vibrant and diverse community with a population of over 1.6 million people.

Alameda County was founded in 1853 and has a rich history of being a hub of innovation and progress. It was home to the first transcontinental railroad, the first public university in California, and the first public library in the state.

Today, Alameda County is a great place to explore and experience the best of the Bay Area. From the beautiful parks and trails to the bustling downtown areas, there is something for everyone. There are plenty of fun activities to enjoy, such as the Oakland Zoo, the Chabot Space and Science Center, and the Oakland Museum of California.

If you’re looking for a great place to relax and unwind, Alameda County has plenty of parks and community centers to explore. From the tranquil Lake Merritt to the bustling Jack London Square, there’s something for everyone.

If you’re looking for a great place to learn, Alameda County has some of the best schools in the state. From the University of California, Berkeley to the California State University, East Bay, there are plenty of options for students of all ages.

So come explore Alameda County and experience the best of the Bay Area!

Things To Do In Alameda County

Top Sights in Alameda County, CA


Oakland Zoo

Berkeley Art Museum and Pacific Film Archive

Lake Merritt

Oakland Museum of California

Children's Fairyland

University of California Botanical Garden

USS Hornet - Sea, Air and Space Museum

Lawrence Hall of Science

Niles Canyon Railway

Coyote Hills Regional Park

Mission Peak

East Bay Regional Park District - Public Safety

Robert W. Crown Memorial State Beach

Del Valle Regional Park

Mission San José Community Park

Retzlaff Vineyards

Sunol Regional Wilderness

Ardenwood Historic Farm

Anthony Chabot Regional Park

Aqua Adventure Water Park

Pacific Pinball Museum

Lake Chabot

The Greek Theatre

Oakland Aviation Museum

Darcie Kent Vineyards

Telegraph Avenue

Piedmont Funeral Services and Mountain View Cemetery

Phoebe A. Hearst Museum of Anthropology

Berkeley Rose Garden

Berkeley Natural History Museums

César E. Chávez Park

Adventure Playground

Indian Rock Park

Ruby Hill Winery

Wood Family Vineyards

The Cathedral of Christ the Light

Mission Peak Regional Preserve

Niles Canyon

Bent Creek Winery

Lake Del Valle

Albany Bulb

Oakland California Temple

Shattuck Avenue

Museum on Main

Donkey & Goat Winery, Tasting Room & Wine Shop

USS Hornet Museum

Page Mill Winery

Lake Chabot Regional Park

3 Steves Winery

Quarry Lakes Regional Recreation Area

Morcom Rose Garden

Central Park

Dashe Cellars

Hayward Japanese Gardens

Lake Elizabeth

Fenestra Winery

Cuda Ridge Wines

Hayward Regional Shoreline

Garin Regional Park

Dante Robere Vineyards

Codornices Park

Washington Township Museum of Local History

Pleasanton Ridge Regional Park

Ohlone Regional Wilderness

Mills College Art Museum

Niles Essanay Silent Film Museum

Museum of Vertebrate Zoology

Shadow Cliffs Regional Recreation Area

Big White House Winery and John Evan Cellars

Nottingham Cellars - Livermore Winery and Wine Tasting

The Gardens at Lake Merritt

Lake Temescal

Doug Siden Visitor Center at Crab Cove

Camron-Stanford House

Parkwest Casino 580

East Bay Regional Park District

Rubino Estates Winery

The Campanile

Vargas Plateau Regional Park

Martin Luther King Jr. Regional Shoreline

Roberts Regional Recreation Area

Middle Harbor Shoreline Park

iFLY Indoor Skydiving - SF Bay

Sycamore Grove Park

Shadow Cliffs Lake

Essig Museum of Entomology Research

Rodrigue Molyneaux Winery

Freight & Salvage

Knowland Park

Livermore Downtown, Inc.

The Magnes Collection of Jewish Art and Life

Temescal Regional Recreation Area

Mitchell Katz Winery

Pardee Home Museum

Shinn Historical Park and Arboretum

Sather Gate

Tilden Regional Park

Reinhardt Redwood Regional Park

Don Edwards San Francisco Bay National Wildlife Refuge

Joaquin Miller Park

Reverse Mortgage Regulations

HUD – The United States Department of Housing and Urban Development is one of the executive departments of the U.S. federal government. It administers federal housing and urban development laws. They state, “Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is a Home Equity Conversion Mortgage (HECM) which is only available through an FHA-approved lender. The HECM is FHA’s reverse mortgage program that lets you withdraw a portion of your home’s equity.”

Consumer Finance Protection Bureau – The Consumer Financial Protection Bureau is an agency of the United States government responsible for consumer protection in the financial sector. They state, “A reverse mortgage is a special type of home loan only for homeowners who are 62 and older. With a reverse mortgage, the amount the homeowner owes goes up–not down–over time.”

NMSL – The Nationwide Multi-State Licensing System and Registry is the record system for non-depository financial services licensing.

NRMLA – The National Reverse Mortgage Lenders Association (NRMLA) is a professional association that serves as an educational resource for the Reverse Mortgage community. The NRMLA was established in 1997 to promote professionalism and provide support and guidance to lenders and education borrowers. In addition, they prioritize educating consumers on the advantages and disadvantages of obtaining a reverse mortgage, ensuring borrowers make informed decisions.  They also provide training for mortgage professionals, enforce a code of ethics, and advise policymakers on reverse mortgage issues.

Reverse Mortgage Lenders near Alameda County

Call us for a free, no-obligation consultation about your Reverse Mortgage options. One of our licensed professionals will answer your questions without the hassle of a sales pitch. You’ll learn what programs you may qualify for and discover the best options that will suit your situation.

We are proud to serve the residents of Alameda County. We have been in the mortgage lending business since 2002 and would be happy to provide additional testimonials and references to clients we have worked with. We look forward to serving you and welcome the opportunity to meet and discuss your individual needs.

Reverse Mortgage Resource Center
Phone: 385-503-2224

Reverse Mortgage Resource Center – Alameda County

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REVERSE MORTGAGE RESOURCE CENTER ~lIVE lIFE ON yOUR tERMS~


Our Lending Team has been serving our clients since 2004. We are passionate about serving our clients with integrity to help them achieve their financial goals.