Shop for the best deals for Fallbrook, California reverse mortgages.
Find the best deal on reverse mortgages in Fallbrook and northern San Diego County.
Fallbrook Reverse Mortgage Lenders
Reverse Mortgage West focuses on meeting the needs of homeowners’ retirement and lifestyle needs. One way we can help accomplish that mission is with a reverse mortgage.
Our streamlined operations and unparalleled staff support help make the process of getting your reverse mortgage a smooth transition. Our staff brings a combined 40 years of experience in reverse mortgage lending. We serve the communities of Fallbrook, Pala Mesa, Bonsall, and Winterwarm.
How many of your neighbors have done a reverse mortgage? Here are some interesting facts about reverse mortgages and the housing market in the greater Fallbrook area.
Today, the median home value in Fallbrook is approximately $740,886. Many homeowners in the area may choose to apply for a private jumbo reverse mortgage for properties above $822,375. Private reverse mortgages provide significantly more proceeds for eligible homeowners with higher-valued properties.
$822,375 is the current maximum lending limit for FHA-insured reverse mortgages. This means with a federally-insured reverse mortgage in greater Fallbrook (and across the country), the first $822,375 of their home value is considered in the calculation of the potential maximum reverse mortgage loan benefit.
In general, reverse mortgages calculate the maximum available loan benefit (before fees, costs, and lien payoffs) for qualified borrowers based on the home’s appraised value, the age of the youngest borrower, or named non-borrowing spouse, and the current/starting effective interest rate.
Fallbrook has given itself the unofficial name ‘The Avocado Capital of the World’ and is also known as ‘The Friendly Village’. Having numerous avocado groves the town hosts its annual Avocado Festival downtown which draws large crowds of visitors.
The town has an estimated population of 31,701 residents and sits just east of Camp Pendleton. The first permanent settlement began in 1846 when the Rancho Monserate was granted to Ysidro Alvarado by the then last governor of Alta California Pio Pico.
The current town layout was established in 1885. Soon after Fallbrook School was built which today serves the community as Reche Clubhouse. Residents' attempts to incorporate failed in 1981 and 1987.
Fallbrook area attractions include the Grand Tradition Estate and Gardens, Fallbrook Art Center, Estate d'Iacobelli Winery, and the Fallbrook Live Oak Park.
Contact your Fallbrook, California and northern San Diego County reverse mortgage lender today.
Owen Coyle and his team at Reverse Mortgage West are ready to answer any questions or concerns you may have about a reverse mortgage. It's important to get the facts first, discuss your unique goals and needs, and see how much you may be able to qualify for with a reverse mortgage.
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