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 San Francisco reverse mortgage lender, offering a variety of FHA home equity loans 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 reverse mortgage lender in San Francisco, dedicated to helping senior homeowners to use their home equity work for them.
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 San Francisco 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 San Francisco 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 San Francisco 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 reverse mortgage lender in San Francisco, 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.
San Francisco, officially the City and County of San Francisco, is one of the best places to live in California. It is not only blessed with beautiful scenery, but also has a rich culture and history. The city is home to a number of famous restaurants, high-end coffee shops, and relaxing parks. Its various amenities and natural beauty make it the perfect place for seniors who want to enjoy the comforts of city living during their retirement years.
Based on its life expectancy, smoking, obesity, and activity rates, access to exercise and medical care, insurance coverage, and air pollution, San Francisco is considered as the healthiest county in California.
San Francisco is home to many recreational and entertainment options, such as the Golden Gate Park, one of the most beautiful urban parks in the US; the Golden Gate Bridge, the city’s world-famous attraction that has been declared as one of the modern wonders of the world; and the Golden Gate National Recreation Area, the largest recreational and urban national park in the world. San Francisco is also home to different sports teams, including the San Francisco 49ers of the National Football League (NFL); and the San Francisco Giants of Major League Baseball (MLB); and the Golden State Warriors of the National Basketball Association (NBA).
As of 2020, the city has a population of 896,047, making San Francisco the fourth largest city in California and the 16th largest city in the United States. It is currently growing at a rate of 0.72% annually. Its population has increased by 11.28% since the most recent census, which recorded a population of 805,235 in 2010, according to the World Population Review. Out of the total population, 753,147 adults, 131,438 of which are seniors aged 62 years old and above. Many of these seniors own the homes that they currently live in and, therefore, can be eligible for a loan with a San Francisco reverse mortgage lender.
San Francisco has around 359,673 households. A little over 37% of these households are occupied by their respective owners. Homeowners in the city have an average home value of $1,009,500. This means that more than half of the homes in the city are well above the HECM reverse mortgage lending limit of $765,600. However, just because a borrower is above the lending limit does not disqualify him for a reverse mortgage. It only means that the assessed value of his home (and therefore the maximum proceeds of his loan) cannot go beyond the lending limit. To bypass the lending limit, an eligible borrower can opt for a jumbo reverse mortgage instead of an HECM. While this should allow the homeowner to make the most out his home equity, there are downsides to a jumbo reverse mortgage as well, which a San Francisco reverse mortgage lender can easily explain.
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|
|CABRILLO ECONOMIC DEVELOPMENT CORPORATION||(805) 659-3791||702 COUNTY SQUARE DRVENTURA, CA 93003-5450||https://www.cabrilloedc.org|
|CREDIT.ORG||(800) 947-3752||4351 LATHAM ST RIVERSIDE, CA 92501-1749||https://credit.org|
|INLAND FAIR HOUSING AND MEDIATION BOARD||(909) 984-2254||1500 S HAVEN AVE STE 100 ONTARIO, CA 91761-2970||https://www.ifhmb.com|
|CREDIT.ORG - RIVERSIDE||(800) 947-3752||4351 LATHAM ST RIVERSIDE, CA 92501-1749||https://credit.org|
|CREDIT.ORG - LADERA||(844) 263-9857||555 CORPORATE DR STE 110 LADERA RANCH, CA 92694-2177||https://credit.org|
|VENTURA COUNTY COMMUNITY DEVELOPMENT CORPORATION||(805) 273-7800||2231 STURGIS ROAD, SUITE AOXNARD, CA 93030-7813||https://vccdc.org|
|PROJECT SENTINEL||(408) 470-3730||554 VALLEY WAY MILPITAS, CA 95035-4106||https://www.housing.org|
|NEIGHBORHOOD PARTNERSHIP HOUSING SERVICES, INC.||(909) 988-5979||9551 PITTSBURGH AVE RANCHO CUCAMONGA, CA 91730-6008||https://nphsinc.org|
|CCCS OF SAN FRANCISCO||(800) 777-7526||1390 MARKET STREET, SUITE 200SAN FRANCISCO, CA 94102-5404||https://sfmohcd.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