Santa Barbara County California Reverse Mortgage

Your Santa Barbara County Reverse Mortgage Guide

Welcome to Santa Barbara County

As a homeowner in Santa Barbara 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 Santa Barbara County

Santa Barbara 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

Santa Barbara County California Frequently Asked Questions

How does a Reverse Mortgage work in Santa Barbara County California?

A reverse mortgage in Santa Barbara 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 Santa Barbara 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 Santa Barbara 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 Santa Barbara 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 Santa Barbara County California

Welcome to Santa Barbara County, CA! Nestled between the Pacific Ocean and the Santa Ynez Mountains, this beautiful county is a paradise for outdoor lovers and beach bums alike. With a population of over 440,000, Santa Barbara County is the perfect place to call home.

The area was originally inhabited by the Chumash people, and the city was founded in 1782 by Spanish missionaries. Since then, Santa Barbara County has grown into a vibrant community with a rich history and culture.

Santa Barbara County is full of fun activities for all ages. From hiking in the Los Padres National Forest to exploring the Santa Barbara Botanic Garden, there’s something for everyone. There are also plenty of local parks and community centers to explore, including Leadbetter Beach, Alice Keck Park Memorial Garden, and the Santa Barbara County Courthouse.

If you’re looking for a great education, Santa Barbara County has some of the best schools in the state. From elementary schools to universities, there’s something for everyone. The University of California, Santa Barbara, is one of the top-ranked universities in the nation, and there are plenty of other great schools in the area.

Santa Barbara County is a great place to visit and an even better place to call home. With its stunning natural beauty, rich history, and vibrant culture, it’s no wonder why so many people choose to call this place home. Come explore all that Santa Barbara County has to offer!

Things To Do In Santa Barbara County

Santa Barbara County, CA Neighborhoods

Santa Barbara Downtown, Eucalyptus Hill, Lower Riviera, San Roque, East Beach, Samarkand, Alta Mesa, Bel Air, West Beach, East Mesa, Oak Park, Eastside, Westside, West Mesa, Laguna, Milpas, Waterfront, Riviera, Lower State,

Top Sights in Santa Barbara County, CA


Old Mission Santa Barbara 1786

Santa Barbara Zoo

Santa Barbara Botanic Garden

Stearns Wharf

Santa Barbara Museum Of Art

Superior Court Of California County Of Santa Barbara

Lotusland

Santa Barbara Museum of Natural History

Butterfly Beach

Arroyo Burro Beach County Park

The Funk Zone

Leadbetter Beach

El Presidio de Santa Bárbara State Historic Park

MOXI, The Wolf Museum of Exploration + Innovation

Santa Barbara Museum of Natural History Sea Center

East Beach

Santa Barbara Maritime Museum

Santa Barbara Historical Museum

Shoreline Park

Visit Santa Barbara

Happy Canyon Vineyard

Chumash Painted Cave State Historic Park

Goleta Beach Park

Alice Keck Park Memorial Garden

Douglas Family Preserve

Casa del Herrero

Elings Park

Chase Palm Park

Summerland Beach

Art, Design & Architecture Museum

Jaffurs Wine Cellars

Museum of Contemporary Art Santa Barbara

Hendrys Beach

Knapp's Castle

Alameda Park

Casa de la Guerra

Sandpiper Golf Club

Seven Falls

Deep Sea Tasting Room

Mesa Lane Beach

Jamie Slone Wines

Moreton Bay Fig Tree

Santa Barbara Carriage and Western Art Museum

Lizards Mouth Rock

Hot Springs Canyon Trailhead

Santa Barbara Beachfront Tennis Club

Hammond’s Beach

Inspiration Point Trailhead

Whitcraft Winery

Tangerine Falls Trail Head

Santa Barbara Beach

South Coast Railroad Museum

1000 Steps Beach

More Mesa Beach

Goleta Point

Goleta Monarch Butterfly Grove at Ellwood Mesa

Marcia Burtt Gallery

Coronado Butterfly Preserve, The Land Trust for Santa Barbara County

Andree Clark Bird Refuge

Coal Oil Point Reserve

Area 5.1 Winery

Haskell's Beach

Franceschi Park

Montecito Peak

Lookout Park

East Camino Cielo

Mission Rose Garden

Sanguis Winery

Eat This Shoot That!

Campus Point Beach

West Beach

Santa Barbara Chromatic Gate

Westmont Ridley-Tree Museum of Art

Romero Canyon Trail

Kids World

Outdoors Santa Barbara Visitor Center

Montecito Hot Springs

La Cumbre Peak

Lake Los Carneros

The Reagan Ranch Center - Young America's Foundation

El Fureidis

Mission Historical Park

Santa Barbara Orchid Estate

Santa Barbara Waterfront Department

Santa Barbara Golf Club

Skofield Park

Susan Quinlan Doll & Teddy Bear Museum & Library

San Marcos Foothills Preserve

Parma Park

Glen Annie Golf Club

Arroyo Burro

De La Guerra Plaza

San Marcos Pass

Goleta Pier

Stevens Park

Lake Los Carneros Park

Hope Ranch Private Beach

Shipwreck Playground

Santa Barbara Polo & Racquet Club

Devereux Beach

Top Experiences in Santa Barbara County, CA


Old Mission Santa Barbara 1786

Santa Barbara Zoo

Santa Barbara Botanic Garden

Stearns Wharf

Santa Barbara Museum Of Art

Superior Court Of California County Of Santa Barbara

Lotusland

Santa Barbara Museum of Natural History

Butterfly Beach

Taco dining

Ocean-view hiking

Downtown bar-hopping

Travel Articles in Santa Barbara County, CA


17 Top-Rated Attractions & Things to Do in Santa Barbara, CA

The 10 best things to do in Santa Barbara right now

Best Santa Barbara Wineries to Visit | WineCountry.com

Best Hikes in Santa Barbara - Visit Santa Barbara

Street Names in Santa Barbara County, CA

Acampo Rd Alisal Mesa Rd Alisos Canyon Rd Baseline Ave Black Rd Burlington Northern Santa Fe Railway
Casitas Pass Rd Castro Canyon Rd Castro Cyn Rd Domingos Rd Dominion Rd Drum Canyon Rd
E Betteravia Rd E Clark Ave E Jones St E Main St Edison St El Camino Real
Exterior Rd Figueroa Mountain Rd Forest Route 10n06 Foxen Canyon Rd Harris Grade Rd Hollister Ranch Rd
Hwy 135 Hwy 246 Jones St Long Cyn Rd Mission Dr Ontiveros Rd

Santa Barbara County, CA Zip Codes

93101, 93102, 93103, 93105, 93107, 93108, 93109, 93110, 93120, 93121, 93140, 93190,

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 Santa Barbara 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 Santa Barbara 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 – Santa Barbara 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.