Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the California before hiring.
Showing 7 reverse mortgage specialists in El Cajon, CA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
PRMG
846 E Washington Ave, El Cajon, CA 92020
6194449993
Granite Mortgage, Inc.
2614 Navajo Rd, El Cajon, CA 92020
6197189909
Ratesale.com
1297 W Main St, El Cajon, CA 92020
6197975626
Top Flite Financial, Inc.
2694 Navajo Rd STE 200, El Cajon, CA 92020
6198197430
Exceptional Mortgage
303 E Main St, El Cajon, CA 92020
8585031220
Reverse Mortgage Administrators
2700 Navajo Rd A, El Cajon, CA 92020
6194694453
Happy Investments, Inc. El Cajon Ca
772 Jamacha Rd # 120D, El Cajon, CA 92019
6194931450
What Does a Reverse Mortgage Specialist in El Cajon Cost?
Typical costs for a reverse mortgage in El Cajon include an origination fee up to 2.5 percent of the home value a mortgage insurance premium of 2 percent of the appraised value and third-party fees like appraisal title and escrow ranging from 3000 to 6000 dollars. Total closing costs often range from 8000 to 15000 dollars but vary by loan amount and lender. This is general information not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What are the age and occupancy requirements for a reverse mortgage in El Cajon?
Borrowers must be at least 62 years old and the home must be their primary residence. California law also requires that the borrower live in the home for the majority of the year.
Are there any California-specific protections for reverse mortgage borrowers?
Yes California has a mandatory three-day right of rescission after loan closing. The state also prohibits lenders from requiring borrowers to purchase other financial products as a condition of the loan.
How does a reverse mortgage affect my heirs in El Cajon?
Heirs can repay the loan by selling the home or using other funds. If the loan balance exceeds the home value they pay only 95 percent of the appraised value under California law and HUD rules.