San Diego Reverse Mortgage Lender
Getting a reverse mortgage can seem stressful at first, but with the right information and the right San Diego reverse mortgage lender, you will feel confident in the choice you make to improve your retirement and your financial future. Knowing how these loans work is crucial, and working with a lender that understands your local housing market is essential as well. Citizens Lending Group is your best resource when looking for San Diego reverse mortgage information. Contact us today to learn more about reverse mortgage requirements and how a reverse mortgage can improve your quality of living after retirement.
San Diego Reverse Mortgage Information
Learning all about reverse mortgages is an important first step to reaching the financial freedom that comes with a San Diego reverse mortgage. Our entire website is dedicated to educating our current and future clients. Below you will find some of the information that is most relevant to the new borrowers.
Reverse Mortgage Information for New Borrowers
Reverse mortgage eligibility is determined by several factors including age, ability to pay maintenance and taxes on your home, and the amount of equity you have in your home. Borrowers must be at least 62 years old, be able to maintain their home and afford property taxes on their income before the loan, and must have a high enough home equity percentage.
While reverse mortgages are not without risks, common reverse mortgage problems that arise for some borrowers can usually be solved or prevented with prior planning and some minor living adjustments. Additionally, a San Diego reverse mortgage is designed to prevent you from having to pay back more than your house is worth so that should never be an issue on your mind.
Finally, reverse mortgage lenders are required to make sure that you have all the information necessary to make the choice that is best both for you and for your family. A reverse mortgage can often affect a borrower’s children because it is required that the loan be repaid when the last borrow moves from the house or passes away. Many families choose to sell the home to cover these costs, but that is not required. Your San Diego reverse mortgage lender can help you determine if your children will be able to keep your home after you are gone even with a reverse mortgage loan.
Contact Us to Learn More About San Diego Reverse Mortgages
As a licensed California reverse mortgage lender, Citizens Lending Group has years of experience in the San Diego reverse mortgage market. We can help you make the choices that are right for you, right for your family, and that will make your retirement easier to manage.
Contact us today for more information on reverse mortgage requirements and to learn more about how our unique approach to educating our consumers can help you get the most out of a reverse mortgage. No other company in California does more to help customers make the best decision for their retirement.