What is a reverse mortgage?

A reverse mortgage allows homeowners aged 62 or older to convert part of their home equity into cash. Unlike a traditional mortgage, the loan does not require monthly payments, and the balance is repaid when the home is sold or the borrower moves out.

Who qualifies for a reverse mortgage?

To qualify, you must be at least 62 years old, own your home outright or have a low mortgage balance, and live in the home as your primary residence. You also need to meet lender and HUD requirements.

What are the risks of a reverse mortgage?

While reverse mortgages provide access to home equity, they can reduce the inheritance left to heirs and increase the loan balance over time due to interest and fees. It’s important to fully understand the terms and plan ahead.

USDA LOAN

When “Home” Is Outside the City Limits

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What is a USDA Loan?

USDA loans are government insured 100% purchase loans for rural property outside of major metropolitan areas. These loans are serviced by direct lenders that meet federal guidelines. USDA loans offer unique benefits, including no down payment requirements for buyers.

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Not Just for Farmland

If you live outside of a major metropolitan area, then you may qualify for a this loan. As a matter of fact, millions of borrowers are eligible for a USDA loan, the only program that offers 100% financing available* to buyers who haven’t served in the military. The county and zip code of the home you want to purchase may meet the guidelines as long as it is outside of a major metropolitan area.

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No Down Payment Required

Conventional loan can require a 20% down payment*, but USDA loans stand alone in offering 100% purchase financing with no down payment requirements. As long as you meet the USDA requirements, you can get 100% financing when you purchase your rural home.

Happy family eating outdoors with USDA loan

We’re here to help.

The requirements for a these loans are very specific, so our specialized loan experts at JJ Mack Team can help determine if you qualify under the current guidelines. The location of the home, your income, credit history, and number of dependents will determine eligibility for this fantastic program.

* Qualifying factors may apply

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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.