San Francisco
415-377-4276

Los Angeles
310-462-1307

Irvine
949-607-6474

Sonoma
707-339-0746

San Diego
858-444-0704

Palo Alto
650-334-5260

Sacramento
916-838-9211

San Jose
408-438-1017

Example Cases

California

Profile: Married couple age 88 and 86.

  • Home Value: $1,550,000.00.
  • Mortgage balance $500,000.00.
  • Need: More money for medical expenses and retirement.
  • Solution: A JUMBO reverse mortgage from Reverse Mortgage West.

Result: They got their old mortgage paid off in full and relief from their monthly payment. Plus they got a tax free check at close for around $310,192.00 with No strings attached.

 

California

Profile:  Jane age 77.

  • Home Value: $2,400,000.00.
  • Mortgage balance $200,000.00 and a Home Equity Line of Credit balance of $400,000.00.
  • Need: After 10 years her Equity Line of Credit matured and recast into a larger monthly payment of principle and interest. That new payment was too big for her budget. She needed more monthly cash flow.
  • Solution: A JUMBO reverse mortgage from Reverse Mortgage West.

Result: Jane got both her first mortgage and Equity Line of Credit paid off in full. And she got a tax free check at close for around $511,876.00.

 

California

Profile: Bob age 88.

  • Home Value $3,200.00.
  • First mortgage balance $300,000.00 Equity Line of Credit $500,000.00.
  • Need: More money to pay for his expensive in home health care monthly costs.
  • Solution: A JUMBO reverse mortgage from Reverse Mortgage West.

Result: Bob got both his first and Equity line of Credit paid off in full and received a tax free check at close for around $347,343.00.

 

California

Profile: Couple age 69 and 67.

  • Home Value:  5 million.
  • Mortgage balance 1 million.
  • Need: They wanted to buy a hotel-condo in Hawaii for $500,000.00. And they wanted money to travel there often.
  • Solution: A JUMBO reverse mortgage from Reverse Mortgage West.

Result: A net tax free check at closing for around $734,145.00 with no monthly mortgage payments, ever.

 

California

Profile: Married couple age 75 & 73.

  • Home Value: $1,700,000.
  • NO mortgage. Their home was free and clear.
  • Need. They were both working and wanted to retire with a lot of money in their savings.
  • Solution: A JUMBO reverse mortgage from Reverse Mortgage West.

Result: They received at closing a tax free check for around $706,942.00

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Disclaimer: These examples are just that, examples. What product and what amount you could possibly qualify for is determined by your age, income, credit scores, liens, debt, type of property, and location.