Find the best reverse mortgage deals in Lakeside, California. Owen Coyle is here to help.
I’m Owen Coyle, an 87 year young “Seasoned Citizen” living in Escondido California. As of April 1, 2023 I’ll be starting my 23rd year as a Reverse Mortgage Specialist. I have no desire to retire, so as long as my health remains good, I’m planning on helping senior homeowners obtain Reverse Mortgages at least until I’m 90, and hopefully a few years beyond. I absolutely have a passion for working with senior homeowners, improving their “Quality of Life” and giving them “Peace of Mind” by setting up Reverse Mortgages for them.
Reverse Mortgage Specialist
Lakeside 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 Lakeside, Riverview Farms, Johnstown, and Santee.
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 Lakeside area.
In 2021, the median home value in Lakeside is approximately $722.5K. Many homeowners in the area may choose to apply for a private jumbo reverse mortgage for properties above $1,149,825. Private reverse mortgages provide significantly more proceeds for eligible homeowners with higher-valued properties.
$1,149,825 is the current maximum lending limit for FHA-insured reverse mortgages in 2022. This means with a federally insured reverse mortgage in greater Lakeside (and across the country), the first $1,149,825 of a home's 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.
About Lakeside, California
In 1866, six thousand acres of land surrounding Lindo Lake were purchased by the El Cajon Valley Land Company who promoted the site as a town. One of the first structures built was the Victorian-style Lakeside Hotel. Like many fledgling settlements Lakeside expanded with the arrival of the railroad in 1889. In 1904, the park surrounding the lake and the Lakeside Hotel were bought by John H. Gay who claimed them as part of his estate. Known as a cowboy town, for it’s rural old west setting and many ranches, the town became a rodeo destination with the construction of the Lakeside Rodeo Grounds.
Today, three large reservoirs surround Lakeside; the El Capitan, San Vicente, and Lake Jennings reservoirs. Lakeside sits along the western foothills of the Cuyamaca Mountains.
Lakeside area attractions include the Barona Resort & Casino, Lake Jennings, El Capitan Reservoir, and Lindo Lake County Park.
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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