Shop the best deals for Poway, California reverse mortgages.
Find the best deal on reverse mortgages in Poway and San Diego County.
Poway 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 Poway, Sabre Springs, Scripps Ranch, Rancho Peñasquitos, and Ramona.
Today, the typical home in Poway costs approximately $927,791. 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 Poway (and across the nation), 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.
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 Poway area.
Poway is often referred to as “The City in the Country" for its rural history and location. Located south of Escondido and north of San Diego, 48,817 residents live in the area.
Early artifacts reveal an early Diegueño or the Kumeyaay people’s presence, before the arrival of Spanish settlers. Prior to 1800, the Mission San Diego de Alcalá raised cattle in the valley. The mission referred to the valley as “Paguay” which is generally agreed to mean the meeting or end of the valleys.
It is believed that Philip Crosthwaite was one of the area’s first settlers in the valley. Agriculture is no longer the primary industry in the region. Poway was incorporated as a city in December 1890. Today, it's a residential community for commuters working in the greater San Diego area.
Local attractions and activities include Potato Chip Rock, Old Poway Park, Poway-Midland Railroad, and the Lightning Brewery.
Contact your Poway, California and greater 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.
Call Owen today at (760) 334-6155 to learn more or complete the steps here to get your free quote.
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