Shop for the best deals for El Cerrito, California reverse mortgages.
Find the best deal on reverse mortgages in Contra Costa County, California.
For over 100 years Mutual of Omaha has been a trusted brand name. In that tradition of trust Mutual of Omaha Mortgage offers reverse mortgages to qualified homeowners in Contra Costa County, California, and in 48 of 50 states.
Each of our originators has a team of experienced professionals who are familiar with the specific needs of homeowners in El Cerrito, Richmond, East Richmond Heights, Albany,and Kensington. We can walk you through the questions you’re certain to have and the process, should you decide to utilize your home’s value to create more cash flow in retirement.
How many of your neighbors have done a reverse mortgage? Here are some interesting facts about reverse mortgages and the housing market in Napa and other surrounding communities.
In 2020 the median home value in El Cerrito was $1,091,409. Many homeowners in Contra Costa County may choose to apply for a private jumbo reverse mortgage for properties above $822,375. Private reverse mortgages provide significantly more proceeds for eligible homeowners with higher-valued properties. $822,375 is the current maximum lending limit for FHA-insured reverse mortgages. This means with a federally-insured reverse mortgage in greater Napa County (and across the country) the first $822,375 of their home value is considered in the calculation of the potential maximum reverse mortgage loan benefit.
In general, reverse mortgages calculate the maximum available loan benefit (before fees, costs, and lien payoffs) for qualified borrowers based on the home’s appraised value, the age of the youngest borrower, or named non-borrowing spouse, and the current/starting effective interest rate.
The small city of El Cerrito was born from the refugees of the Great San Francisco Earthquake of 1906. By 1909 the refugee camp became known as Rust, in honor of the settlement’s first postmaster Wilhelm F. Rust. A new name was decided upon in 1916, El Cerrito. In Spanish the name is translated “little hill” which reflects the hills upon which the town was built. One year later the town was officially incorporated. By 1917, the village on the eastern shore of the San Francisco Bay had 1,500 residents. In 2019, El Cerrito’s estimated population was 25,398. Despite its location in a dense urban area, the city has extensive undeveloped natural areas. These include the Hillside Natural Area open space, Huber Park, and the Ohlone Greenway. Foodies will be pleased to know that Nation’s Giant Hamburgers is headquartered in El Cerrito, serving their signature monster burgers, fries, and even breakfasts day and night.
Local El Cerrito attractions include the Speakeasy Theatre, Indian Rock Park, the San Pablo Reservoir, and the Redwood Valley Railway (Tilden Steam Train).
Contact your Contra Costa County California reverse mortgage lender today.
Russell Doi and his team at Mutual of Omaha Mortgage are ready to answer any questions or concerns you may have about a reverse mortgage. It's important to get the facts first, discuss your unique goals and needs, and see how much you may be able to qualify for with a reverse mortgage.
Call Russell today at (510) 305-9476 to learn more or complete the steps here to get your free quote.
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