Mono County California Reverse Mortgage

Your Mono County Reverse Mortgage Guide

Welcome to Mono County

As a homeowner in Mono County, you have worked hard to build equity in your home. Now, that equity can work for you in your retirement years with a reverse mortgage home loan. This type of loan allows you to tap into the equity you have built up in your home without the obligation to make monthly payments. Instead, the loan is repaid when you sell the home or pass away. Reverse mortgage loans can provide financial stability and peace of mind, allowing you to enjoy your retirement and age in place in the comfort of your own home.

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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We Provide Reverse Mortgage Loans in the following cities in Mono County

Mono 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

Mono County California Frequently Asked Questions

How does a Reverse Mortgage work in Mono County California?

A reverse mortgage in Mono 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 Mono 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 Mono 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 Mono 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 Mono County California

Welcome to Mono County, California! Nestled in the Eastern Sierra Nevada Mountains, this county is a hidden gem with plenty to explore. With a population of just over 14,000, Mono County is a cozy and inviting place to call home.

Mono County was founded in 1861, and has a rich history of mining, ranching, and logging. Today, it is known for its breathtaking views, outdoor recreation, and vibrant culture. Whether you’re looking for a peaceful getaway or an adventure-filled weekend, Mono County has something for everyone.

The county is home to several parks, including the June Lake Loop, which offers camping, fishing, and hiking. The Mammoth Lakes Basin is a popular spot for mountain biking and skiing. For those looking for a more relaxed experience, Mono County also has plenty of community centers and local shops.

Mono County also has several schools, including Mammoth Lakes Elementary, Mammoth Middle School, and Mammoth High School.

Things To Do In Mono County

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Top Sights in Mono County, CA


Mammoth Mountain Ski Area

Mammoth Mountain

Convict Lake

June Mountain Ski Area

Bodie State Historic Park

Tioga Pass

Travertine Hot Springs

Mono Lake Tufa State Natural Reserve

Sonora Pass

Hot Creek Geologic Site

Lake Crowley

White Mountain Peak

Hot Creek

Mount Dana

Twin Lakes

Hoover Wilderness

Silver Lake

Virginia Lakes

Lake Mary Road

Horseshoe Lake

Gull Lake

Buckeye Hot Spring

Lake Mamie

Duck Lake Pass Trailhead

Crystal Lake Trailhead

McLead Lake

Mono Basin

Hilltop Hot Springs

Grant Lake

Tamarack Cross Country Ski Center

South Tufa Area

Mammoth Museum at the Hayden Cabin

Mammoth Rock Trail End

Owens River Gorge

Mono–Inyo Craters

Woolly's Tube Park & Snow Play

Crowley Lake Stone Columns

Panorama Dome

Tioga Lake

McGee Creek Road

Bridgeport Reservoir

Sierra Star Golf Course

Saddlebag Lake

Patriarch Grove

Mount Morrison

Adventure In Camping

Mono Basin Scenic Area Visitor Center

Sherwin Lakes

Convict Lake Trail

Mono Lake - South Tufa Area

Panum Crater

Sherwin Lakes Trailhead

Ellery Lake

Parker Lake Trailhead

June Lake

Peeler Lake

Leavitt Lake

Minaret Summit

T J Lake

Glass Mountain

Bloody Mountain

Conway Summit

Mammoth Creek Park

Adventure Center

Leavitt Peak

Bodie Hills

Montgomery Peak

Mount Patterson

Lake George

Skelton Lake

Horseshoe Lake Loop

Valentine Lake

Rush Creek Trailhead

Carson Peak

Mammoth Rock Trail

Saddlebag Lake Resort

Lee Vining Canyon

Lakes Basin Bike Path

Shady Rest Park

Crystal Crag

Kittredge Sports

Big McGee Lake

Mount Baldwin

Mammoth Ice Rink

Paoha Island

Sonora Peak

Lake Mary

Barney Lake

Mono Basin National Scenic Area

Agnew Lake

Little Virginia Lake

Mono Basin Historical Society & Museum

Chemung Mine

Lundy Lake

Dunderberg Peak

Lee Vining Creek

Ground Up Climbing Guides

Laurel Mountain

McGee Mountain

Owens River Road

Street Names in Mono County, CA

Adobe Ranch Rd Benton Crossing Rd Black Rock Mine Rd Bodie Rd Canyon Rd Cottonwood Canyon Rd
Dobie Meadows Rd Gorge Rd Hot Creek Hatchery Rd Hwy 108 Hwy 120 Hwy 167
Hwy 266 Morris Dr Owens Gorge Rd Owens River Rd Pacific Crest Trail Pole Line Rd
Richardson Dr Tioga Pass Rd U.s. Route 6 In Nevada

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 Mono 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 Mono 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 – Mono 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.