Placer County California Reverse Mortgage

Your Placer County Reverse Mortgage Guide

Welcome to Placer County

As a homeowner in Placer 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 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 Placer County

Placer 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

Placer County California Frequently Asked Questions

How does a Reverse Mortgage work in Placer County California?

A reverse mortgage in Placer 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 Placer 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 Placer 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 Placer 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 Placer County California

Welcome to Placer County, California! This vibrant and diverse county is located in the Sierra Nevada foothills, just east of Sacramento. With a population of over 380,000 people, Placer County is a bustling hub of activity.

Placer County was founded in 1851 and has a rich history. It was named after the Spanish word for sand or gravel deposits found in the area. The county has grown and changed over the years, but it still has a strong sense of community and pride.

Placer County is a great place to explore and experience the outdoors. There are plenty of parks, trails, and open spaces to explore. Whether you're looking for a peaceful hike or a challenging mountain bike ride, Placer County has something for everyone.

If you're looking for a more urban experience, Placer County has plenty of options. There are plenty of shopping centers, restaurants, and entertainment venues to explore. You can also find several community centers, libraries, and museums in the area.

Things To Do In Placer County

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Top Sights in Placer County, CA


Palisades Tahoe

Northstar California Resort

Sugar Bowl Resort

Alpine Base Area at Palisades Tahoe

Homewood Mountain Resort

Royal Gorge Cross Country Ski Resort

Auburn State Recreation Area Ranger Station

North Lake Tahoe

Donner Pass

Kings Beach State Recreation Area

Tahoe Treetop Adventure Parks

Commons Beach

Tahoe Cross-Country

Roseville Golfland Sunsplash

Gatekeeper's Museum

Hidden Falls Regional Park

Alpenglow Expeditions

Maidu Museum & Historic Site

Blue Line Arts

North Tahoe Regional Park

Foresthill Bridge

Palisades Tahoe Aerial Tram

Lake Clementine

Wise Villa Winery

Tahoe City Winter Sports Park

Truckee River Rafting

Speedboat Beach

Quarry Park

Old Town Auburn Business Association

High Camp

Lake Forest Beach

Granlibakken Ski & Sled Hill

Granite Chief Wilderness

Quarry Park Adventures

Eagle Rock Trailhead

Old Brockway Golf Course

Tahoe Via Ferrata

Tahoe City Downtown Association

Kings Beach, Lake Tahoe

Serene Lakes

Burton Creek State Park

Granite Chief

Bernhard Museum

Mt. Vernon Winery

Skylandia Park

Blackwood Canyon SNO-PARK

Brockway Summit Tahoe Rim Trail Trailhead

Trailhead for Stateline Fire Lookout

Dono dal Cielo Vineyard

Sierra State Parks Foundation

Lake Clementine Trail

Tahoe City Golf Course

French Meadows Reservoir

North Tahoe Arts

North Tahoe Beach

SnoVentures Activity Zone

Shirley Canyon Trailhead

iFLY Indoor Skydiving - Sacramento

Vina Castellano Winery

Maidu Regional Park

Sugar Pine Reservoir

Denio's Farmers Market & Swap Meet

Placer County Museum

Bayside Church - Granite Bay Campus

Rollins Lake Road

Wake Island Waterpark

Moon Dune Beach

Johnson-Springview Park

Lone Buffalo Vineyards

Martis Peak Fire Lookout

Bear League

Truckee River Bike Trail

Truckee River Raft Co.

Miner's Ravine Trail

Northstar Village Ice Skating Rink

Mount Pluto

North Lake Tahoe Historical Society

Roseville Telephone Museum

RRUFF Dog Park

Rancho Roble Vineyards

The Gold Rush Museum

KT-22

Patton Beach

Watson Cabin Museum

Donner Peak

Hell Hole Reservoir

Gallery Keoki

Stevens Trail

Tahoe Vista Recreation Area and Boat Launch

Roseville Utility Exploration Center

Olympic Museum

Rocklin Historical Society & Museum

Coyote Pond Park.

Lake Tahoe Dam

Loch Leven Lakes

Ciotti Cellars

High Camp Mountain-Top Dining

Royer Park

Boarding On The Lake

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 Placer 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 Placer 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 – Placer 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.