Welcome to CB Reverse Mortgage!
The CB Reverse Mortgage Team is your premier reverse mortgage team located in Redondo Beach, California. The experienced team members here are committed to quality customer service and putting the needs of the people it serves first. CB Reverse Mortgage will always adhere to the highest degree of integrity in all business dealings.
When it comes to Reverse Mortgages, education is the key. CB Reverse Mortgage’s pledge to you, is to complete the education process, so you are able to make an informed decision. CB Reverse Mortgage always encourages prospective clients to invite family members to be a part of the discussion during the education process.
What is a reverse mortgage?
A Reverse mortgage is a loan available to seniors over the age of 62 which allows them to convert the equity in their home into cash. A reverse mortgage can also be used to purchase a home.
How can I use the money I receive from a reverse mortgage?
There is no restriction on how the proceeds from a reverse mortgage can be used.
How can I qualify for a reverse mortgage?
To qualify for a reverse mortgage a borrower must be at least 62 years old, own a home, and have sufficient equity in that home. A lender will also complete a financial assessment of the borrower.
Will my home qualify for a reverse mortgage?
Single-family homes, 2-4 unit properties (one unit occupied by owner), FHA-approved manufactured homes, HUD approved condominiums, and townhomes are eligible for a reverse mortgage.
How much money can I get from a reverse mortgage?
The amount will vary borrower to borrower and is based on a few factors including age of the youngest borrower, current interest rates, value of your home, and how much you may owe on an existing mortgage.
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Reverse Mortgage Calculator
This FREE Reverse Mortgage Calculator has been designed to help take the guess work out of your Reverse Mortgage research. Find out if a Reverse Mortgage is the right option for you today!
Reverse For Purchase
The Home Equity Conversion Mortgage (HECM) for Purchase allows seniors at least 62 years of age to purchase a home that better meets their physical needs through a reverse mortgage.