Your San Francisco Reverse Mortgage Specialists

If you or a family member would like an informational package or an appointment with one of our local specialists

Please call ☎ (925) 212-3690 -or- complete our online questionnaire for yor quick benefits package via email

We specialize in San Francisco Reverse Mortgages for seniors. A reverse mortgage enables San Francisco senior homeowners to sustain their retirement while living in the home and community they love. Contact us for reverse mortgage information and our no obligation reverse mortgage informational package. We provide reverse mortgages for seniors throughout San Francisco, California and surrounding bay area. All Reverse Mortgage Company, San Francisco, CA.

We often offer much Lower Rates & Fees than your local Credit Union or Bank which may amount to thousands of dollars of retained equity through the life of your Reverse Mortgage

We offer more programs than any other company including several Government Insured & Private Jumbo Programs

Our San Francisco Reverse Mortgage Specialists are some of the most dedicated and talented professionals within our industry assuring you a truly no-hassle & timely close

About: San Francisco Reverse Mortgages

The City of San Francisco is the fourth most populous city in California.   In fact, with a 2007 estimated population of 764,976 it is the 14th most populous city in the United States.  San Francisco is part of the San Francisco Bay Area metropolitan area and is among the most densely populated cities in the country.  Due to the more than 7.2 million people who live in the city, there is ample need for reverse mortgage products. The city lies at the tip of the San Francisco Peninsula, with the Pacific Ocean to the west, San Francisco Bay to the east, and the Golden Gate Bridge to the north.  Reverse mortgages in Northern California, and more specifically in the San Francisco area, are more heavily weighted toward the jumbo products than may other areas of California and other parts of the country.  The HUD Home Ownership Center (HOC) is located in San Francisco and they have endorsed over 4,100 Home Equity Conversion Mortgages (HECM’s) but because of the high property values in the area, the San Francisco market lends itself more readily to a higher lending limit.  Borrowers seeking reverse mortgages in San Francisco and the surrounding areas do consider the HUD HECM but with the higher property values, the jumbo or proprietary reverse mortgages do give many San Francisco reverse mortgage borrowers more proceeds. 

San Francisco Reverse Mortgage Limits

Congress has passed a bill, H.R. 3221 which has raised the limits and will accommodate more of the higher valued San Francisco properties.   The old lending limit in the San Francisco area for HUD was $362,790 and it is being replaced with the new nation-wide limit of $417,000, which means that more San Francisco area residents will be able to utilize the HUD HECM program than ever before.  There was a question as to whether or not the Bill was going to raise the limit to $625,500, which would have helped even more homeowners with higher value properties, but HUD has posted the $417,000 limit on their website now and it is official.  For those who were waiting for the higher limits, there is no reason to wait any longer.

A reverse mortgage uses on actuarial tables much the same as insurance products and borrowers receive more money they older they are.  Therefore, a 62 year old borrower just meeting the age requirement will receive much less cash than a 78 year old borrower with the same $500,000 home.  When borrowers do not take all their funds at the beginning of the loan and choose to use the line of credit option, the line of credit grows annually on the unused portion as the borrower would be eligible for a higher loan amount at the increased age.  Some borrowers have asked whether or not they should wait for a few years to apply until they are older to take advantage of higher principal limits for older borrowers.  Only you and your trusted financial advisors know your situation but there are other factors which go into the determination of how much money you will receive on a reverse mortgage which also include interest rates and property values.  If your property value declines, you may be eligible for less money.  If the interest rates rise from their current near-historic low levels, then you may also be eligible for less money.  The other factor that changes on which we have already seen several changes this year alone is the margin.  The margin is added to the index to determine the final rate you pay and margins have risen this year as uncertainty has grown in the mortgage secondary market.  When the margin rises, your ultimate rate increases and you will receive less money.

The only constant is your age…you do know how old you are and you do know when your next birthday is.  No one can predict the future with interest rates or property values.  If the values rise considerably, you can refinance a reverse mortgage and the HUD insurance does not need to be paid a second time…you would just pay the difference, if any, from your old premium amount to the new premium based on any increase in the principal lending limit in your area.  The Senior Specialists at All Reverse Mortgage Company are committed to helping you with answering all your questions and if the reverse mortgage is right for you, closing your loan quickly and easily.  If it’s time for you to put your equity in reverse so that you can keep your life moving forward, then we’re here to help!