Who qualifies for a reverse mortgage?

To qualify, you must be at least 62, own your home outright or have a low mortgage balance, and live in the home as your primary residence. Lenders and HUD also have additional eligibility requirements.

What are the risks of a reverse mortgage?

Reverse mortgages can reduce the inheritance left to heirs and increase the loan balance over time due to interest and fees. It’s important to understand the terms and plan for future homeownership needs.

REVERSE MORTGAGE

When A History Of Home Ownership Pays Off

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What is a Reverse Mortgage?

If you are 62 or older and own your home, you are uniquely qualified to benefit from a reverse mortgage. This loan program is designed to help qualifying borrowers get access to their equity, stay in their home, and rid themselves of a monthly mortgage payment.*

A reverse mortgage gives you access to the equity that you have built up in your home over the years through principal payments, your down payment, and appreciation. You can receive this equity TAX FREE to use however you want.

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Retirement Funding

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Vacation or Travel

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Investments

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Home Repairs

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Medical Expenses

With a traditional mortgage, you pay a monthly payment to a lender. With a reverse mortgage, the payment is made to you. How would you like to receive your equity? You can choose from these options—or a combination—when accessing your home’s equity:

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One Lump Sum

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Monthly Payments

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Line of Credit

How a Reverse Mortgage works

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With this loan program, you stop making monthly payments on your mortgage. The amount owed then becomes a lien on the property. Any equity that you choose to have paid to you is added to that lien amount, with any interest accrued.

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At the end of the reverse mortgage period, when you no longer occupy the home, the amount owed is either the mortgage balance or the value of the home, whichever is lesser.

older surfing couple happy from reverse mortgage

We’re here to help.

A reverse mortgage can be a powerful tool to give you access to the equity that you have built up in your home over the years. It is not right for everyone, and if your financial goals include paying your mortgage off faster, then this option may not be for you. However, if you have built up equity over the years and you want to get cash from your home or stop paying monthly mortgage payments, then this is an excellent program to consider.

Our expert loan advisors at the JJ Mack Team can sit down and listen to what goals you want to accomplish and help you to determine if a reverse mortgage is the right tool to reach them. Our trusted experts will help you understand your options, and give you all of the information to see if this is the perfect program for you.

*Borrowers will still be responsible for tax, insurance and maintenance of the property. Must be primary residence. All Borrowers must be 62 or older.

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LET'S CHAT

Frequently Asked Questions

Q: Why is the JJ Mack Team considered one of the best mortgage lenders in Roseville?

The JJ Mack Team is known for fast approvals, transparent communication, and a 5-star client experience. With over 106 verified 5-star Google reviews and deep expertise in the Roseville housing market, our team is trusted by both homebuyers and top real estate agents for delivering smooth, on-time closings.

Q: What types of home loans does the JJ Mack Team offer in Roseville?

We provide a wide range of mortgage options, including Conventional loans, FHA, VA, Jumbo, CalHFA first-time buyer programs, investment property loans, refinancing, and down payment assistance. We help you compare programs and find the best mortgage strategy for your financial goals.

Q: Does the JJ Mack Team serve areas outside of Roseville?

Yes. In addition to Roseville, we serve Rocklin, Lincoln, Loomis, Folsom, Granite Bay, Citrus Heights, Sacramento, Fair Oaks, El Dorado Hills, Antelope, Carmichael, and surrounding cities throughout Placer, Sacramento, and El Dorado counties.