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 Mesa 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 Mesa 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 Mesa 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 Mesa 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 Mesa 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 Mesa 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.
Mesa is a city in Maricopa County located about 20 miles east of Phoenix. It is popular for its gorgeous views, desert landscape, and warm climate. It also has a rich history, diverse culture, and numerous destinations that attract visitors from all over the country, specifically retirees who want to enjoy the best retirement experience in Mesa.
It is known as one of the best places in the US to retire. Every year, many visitors, which some locals refer to as “snowbirds”, come to Mesa to escape colder places and experience a warmer climate. Mesa has a little something for everyone. It has beautiful sceneries and natural attractions for avid outdoorsmen, competitive sports for sports fans, and varied restaurants for foodies. Mesa even offers parks specially designed for seniors who prefer to spend their time in the city.
Regardless of your personal inclinations, however, you should really visit Mesa’s popular tourist attractions, such as the Superstition Mountains, Apache Trail, and Usery Mountain Regional Park. Moreover, even though the city is known for its naturally warm climate and desert attractions, visitors can also take enjoy the city’s nearby water recreation sites. There are three lakes and two rivers in the area that allow visitors to enjoy a variety of activities, such as boating, fishing, rafting, kayaking, water skiing, wake boarding, jet skiing, and tubing in the Salt and Verde Rivers.
Mesa is the 3rd largest city in Arizona and the 35th largest city in the US. With a population of 527,666, the place is still growing at a rate of 1.80% annually. Its population has also increased by 20.19% since the most recent census in 2010, according to World Population Review. Out of the total population, around 79,239 are senior citizens. Moreover, a little over 60% of the homes in Mesa are owner-occupied. Thus, there may be quite a few senior citizens who can deal with a Mesa reverse mortgage lender.
The average home in Mesa is valued at $209,700. Moreover, homeowners withy traditional mortgages typically spend around $1,410 per month on ownership-related costs, such as mortgage payments, real property taxes, and homeowner’s insurance, according to the US Census Bureau. These homeowners can save quite a significant amount of money if they speak to a Mesa reverse mortgage lender about getting an HECM in lieu of their traditional mortgage. Considering the average home value in the area, many Mesa reverse mortgage borrowers do not even need to worry about the government-imposed lending limit that Mesa reverse mortgage lenders need to observe for HECM loans. Nevertheless, if you are fortunate enough to have a home that is above the current lending limit, then you might want to get a jumbo reverse mortgage instead in order to make the most out of your home equity. On the other hand, if you want to downsize your home for retirement, then perhaps the HECM for Purchase program is right for you.
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 Name||Phone Number||Address||Website|
|WESTERN ARIZONA COUNCIL OF GOVERNMENTS HOPE - HECM||(928) 217-7161||1235 S REDONDO CENTER DR YUMA, AZ 85365-2039||https://www.wacog.com|
|TAKE CHARGE AMERICA||(623) 266-6149||20620 N 19TH AVE PHOENIX, AZ 85027-3585||www.takechargeamerica.org|
|CREDIT.ORG - MESA||(855) 736-7729||4140 E BASELINE RD STE 101 MESA, AZ 85206-4413||https://credit.org|
|ADMINISTRATION OF RESOURCES AND CHOICES||(520) 623-9383||SUITE 219 3003 S. COUNTRY CLUB ROAD TUCSON, AZ 85713-4082||https://www.nfcc.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