REVERSE MORTGAGES BY KEN ADLER
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​Calculate how much money you can get from a Reverse Mortgage here:
illustrator.financeofamerica.com/widgets/calculator/e3Pf6Q9fTsZ3HLTfHEKokzDYAGNE0p2Nx4oxacIhoDjMK1eIs062hxXqNDiCAp3vAfGeRm3tHnQTMxijPyztonqM4tfhlCRK5K6Lb1GNuhI

Reverse Mortgages are now being offered by banks with loan amounts as high as $4 Million. In addition to offering much higher loan amounts than the HECM reverse mortgage, there is
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no mortgage insurance requirement, which results in much lower closing costs.  Additionally, this is a non-recourse loan which means you or your eventual heirs will never owe more than the house is worth.

​The loan amount is calculated by using the age of the younger borrower, appraised value of the home, and current interest rates. Additionally, banks have come out with hybrid Jumbo plans that offer a growing Line of Credit option and other draw options at closing. Like the HECM the Jumbo reverse must first pay off any mortgages/liens on the property and be the only mortgage on the property. One person must be 55 or older and it must be their primary residence. Mortgage payments are not required with these loans. Borrowers are still responsible for property taxes, homeowner's insurance, HOA dues & assessments, and general upkeep of the home.

Jumbo reverse mortgages are available for primary resident condos appraising for $500,000 or more and all primary resident single family homes appraising for $800,000 to $10,000,000 or more.

2024 OC Home Loans, Inc. | All Rights Reserved | OC Home Loans, Inc. is an Equal Housing Lender | Phone: 888-949-9624 | OC Home Loans, Inc., NMLS #1842513 NMLS Consumer Access | Licensed by the California Department of Real Estate, DRE #02077787, Idaho Mortgage Broker/Lender License #1842513, Oregon Department of Consumer and Business Services Mortgage Lending License #1842513, Washington Department of Financial Institutions Consumer Loan Company License #1842513 Texas Department of Savings and Mortgage Lending Mortgage Company License #1842513 Idaho Department of Finance Mortgage Broker/Lender License #1842513 Colorado Division of Real Estate Mortgage Broker License #1842513 Arizona Department of Insurance and Financial Institutions Mortgage Banker License #BK-1032577 Ken Adler DRE #02071234  NMLS #261698


Hours

24/7

Telephone

310-880-8702

Email

[email protected]
  • Reverse Mortgages
  • FAQs
  • Ken/Reviews
  • Contact