Are you a senior citizen living in California and considering a reverse mortgage? If so, you need to find the best reverse mortgage lenders in California who can offer you the most favorable terms and conditions. A reverse mortgage is a loan that allows homeowners over 62 years of age to convert a portion of their home equity into cash without having to sell their home or make monthly mortgage payments. In this article, we will discuss the top reverse mortgage lenders in California.
1. American Advisors Group (AAG)
AAG is one of the largest reverse mortgage lenders in the country and has been in business for over a decade. They offer a variety of reverse mortgage products, including fixed-rate and adjustable-rate options. AAG has an A+ rating with the Better Business Bureau and has received numerous positive customer reviews.
One of the standout features of AAG is their commitment to education. They offer a wealth of resources on their website, including a reverse mortgage calculator and an e-book on reverse mortgages. AAG also has a team of licensed mortgage professionals who can answer any questions you may have about the reverse mortgage process.
2. Reverse Mortgage Funding LLC
Reverse Mortgage Funding LLC is a direct lender that specializes in reverse mortgages. They offer a variety of reverse mortgage products, including the Home Equity Conversion Mortgage (HECM) and the jumbo reverse mortgage. Reverse Mortgage Funding LLC has an A+ rating with the Better Business Bureau and has received positive customer reviews.
One of the standout features of Reverse Mortgage Funding LLC is their commitment to transparency. They provide detailed information on their website about the reverse mortgage process and the costs involved. Reverse Mortgage Funding LLC also has a team of licensed mortgage professionals who can answer any questions you may have about the reverse mortgage process.
3. Finance of America Reverse LLC (FAR)
Finance of America Reverse LLC (FAR) is a direct lender that specializes in reverse mortgages. They offer a variety of reverse mortgage products, including the HECM and the jumbo reverse mortgage. FAR has an A+ rating with the Better Business Bureau and has received positive customer reviews.
One of the standout features of FAR is their commitment to customer service. They have a team of licensed mortgage professionals who can answer any questions you may have about the reverse mortgage process. FAR also offers a free reverse mortgage guide on their website to help you understand the process.
4. Liberty Reverse Mortgage
Liberty Reverse Mortgage is a direct lender that specializes in reverse mortgages. They offer a variety of reverse mortgage products, including the HECM and the jumbo reverse mortgage. Liberty Reverse Mortgage has an A+ rating with the Better Business Bureau and has received positive customer reviews.
One of the standout features of Liberty Reverse Mortgage is their commitment to education. They offer a variety of resources on their website, including a reverse mortgage calculator and a guide to reverse mortgages. Liberty Reverse Mortgage also has a team of licensed mortgage professionals who can answer any questions you may have about the reverse mortgage process.
5. One Reverse Mortgage LLC
One Reverse Mortgage LLC is a direct lender that specializes in reverse mortgages. They offer a variety of reverse mortgage products, including the HECM and the jumbo reverse mortgage. One Reverse Mortgage LLC has an A+ rating with the Better Business Bureau and has received positive customer reviews.
One of the standout features of One Reverse Mortgage LLC is their commitment to customer service. They have a team of licensed mortgage professionals who can answer any questions you may have about the reverse mortgage process. One Reverse Mortgage LLC also offers a free reverse mortgage guide on their website to help you understand the process.
Conclusion
Choosing the best reverse mortgage lender in California is an important decision that requires careful consideration. The lenders mentioned in this article are some of the best in the industry and can offer you favorable terms and conditions. However, it is important to do your own research and compare the offers of different lenders before making a final decision. With the help of a licensed mortgage professional, you can find the reverse mortgage that best suits your needs and financial goals.