South River Mortgage is one of the top reverse mortgage brokers in the United States (US) that offers reverse mortgage loans to senior homeowners in over 50 cities in seven states. We are an official member of the National Reverse Mortgage Lenders Association (NRMLA), the voice of the reverse mortgage industry in the US.
South River Mortgage is a Fremont reverse mortgage lender, offering a variety of reverse mortgage products to local homeowners, with the guidance of our skilled team of loan specialists, who are dedicated to all your reverse mortgage needs.
South River Mortgage aims to provide borrowers with the comfort and assistance they need to fully enjoy the benefits of the reverse mortgage program.
South River Mortgage is a Fremont reverse mortgage lender, dedicated to helping senior homeowners have the best retirement experience that they can afford.
Whether you need immediate cash or to establish a line of credit for emergencies, South River Mortgage is here for you. We know that you spent thousands of dollars building the home that you intend to retire in, so trust us when we say that we won’t let your efforts go to waste.
Our primary goal, as a Fremont reverse mortgage lender, is to help you enjoy your retirement years by giving you the resources that you need to live comfortably and age in place, surrounded by the same neighbors that you’ve come to know and love. As a leading Fremont reverse mortgage lender, we offer a variety of reverse mortgage products that let you convert your home equity into cold hard cash, without having to constantly worry about making monthly mortgage payments.
South River Mortgage is a Fremont reverse mortgage lender authorized by the US Department of Housing and Urban Development (HUD) to offer Home Equity Conversion Mortgages (HECMs), the most popular type of reverse mortgage program in the country which is insured by the Federal Housing Administration (FHA) and regulated by the US government.
As a Fremont reverse mortgage lender, South River Mortgage provides three loan options for eligible homeowners: (1) HECM, (2) Jumbo Reverse Mortgage; and (3) HECM for Purchase.
As already mentioned, the HECM is a reverse mortgage loan regulated and insured by the government. Like all other reverse mortgage programs, it allows eligible borrowers to convert their home equity into cash, without having to worry about regular monthly payments. Borrowers need only repay the loan when they die, sell or move out of their home, or fail to comply with the ongoing requirements of the loan.
On the other hand, the Jumbo Reverse Mortgage is a reverse mortgage loan that allows homeowners with higher value homes to convert more of their home equity into cash by bypassing the lending limit imposed by the government on HECMs.
Lastly, the HECM for Purchase is a special-purpose reverse mortgage loan that is designed to help homeowners purchase a new home using the loan proceeds. Borrowers who intend to downsize or move to a different neighborhood will likely get the most out of this type of loan.
Fremont is a city in Alameda County, California, that is popular for its excellent mix of urban and suburban lifestyles. It has gone by the name “Tree City” since 1996 seeing as it has approximately 55,000 trees in city parks, streets, and landscaped boulevard areas.
Fremont also played a key role in the development of Hollywood and the American film industry. It is in Fremont where Hollywood was first established, where Charlie Chaplin was made popular, and where the silent film was created.
Aside from its rich history, Fremont also has numerous tourist attractions, such as its Bay Area where you can enjoy some great outdoor activities, Mission Peak Regional Preserve where you can hike through the scenic outdoors, Central Park where you can have a relaxing picnic, and Aqua Adventure Water Park where you can enjoy a fun-filled water adventure.. Fremont also has amazing outdoor landscapes like the Don Edwards San Francisco Bay National Wildlife Refuge, and operates the Olive Hyde Art Gallery, adjacent to Mission San Jose which has featured prominent Bay Area artists like Wendy Yoshimura, the California Society of Printmakers, and the Etsy collective. The public gallery is housed in a former home of Olive Hyde, a descendant of early San Francisco Mayor George Hyde.
Fremont not only has excellent daytime activities, but it is also well-known in providing nightlife scenes. These scenes include the Town Fair Plaza and the Train of Lights, an hour-long trip through Niles Canyon about dressed up antique train cars.
With a 2020 population of 239,525, Fremont is the 16th largest city in California and is currently growing at a rate of 0.36% annually, according to World Population Review. Out of the total population, 21.1% are seniors citizens who call Fremont home. In addition, 61.6% of homes are occupied by their owner-occupied.
The average value of a Fremont home that is both owned and occupied by the homeowners in the area is $863,800. Thus, Fremont’s average home value is outside the bounds of the current HECM lending limit of $765,600 which is observed by Fremont reverse mortgage lenders. In other words, eligible HECM borrowers can still avail of the standard HECM loan, but the proceeds of the maximum loan proceeds may be limited. On the other hand, if an eligible borrower wants to bypass this limit and maximize the use of his home equity, then he can opt for a jumbo reverse mortgage instead. Finally, for senior citizens who just want to downsize for their retirement years, it will probably be better for them to ask their Fremont reverse mortgage lender for advice about the HECM for Purchase program.
Whatever reverse mortgage program you are most interested in, however, South River Mortgage can definitely help you get the best deal for your home so that you can live comfortably and securely throughout your retirement years.
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|Counseling Agency |
|GUIDEWELL FINANCIAL SOLUTIONS||(323) 637-0847||SUITE 225 1050 LAKES DR WEST COVINA, |
|NEIGHBORWORKS ORANGE COUNTY||(714) 490-1250||128 E KATELLA AVE STE 200 ORANGE, CA 92867-4850||https://nwoc.org|
|NATIONAL ASSOCIATION OF REAL ESTATE BROKERS-INVESTMENT DIVISION, INC||(510) 268-9792||7677 OAKPORT STREET, SUITE 1030, 10TH FL OAKLAND, |
|CREDIT.ORG - HEMET||(855) 736-7782||1555 WEST FLORIDA AVE.HEMET, CA 92543-3814||https://credit.org|
Have questions about the reverse mortgage? Are you not sure if this is the right program for you? Speak with one of our trusted reverse mortgage advisors today
The first step to getting a good reverse mortgage is choosing a reverse mortgage originator that suits your needs. Unfortunately, this is easier said than