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 12 reverse mortgage specialists in Redondo Beach, 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.
South Bay Equity Lending
1611 S Pacific Coast Hwy #102, Redondo Beach, CA 90277
3103788212
Craig Barton | CB Loans
116 S Catalina Ave Suite 111, Redondo Beach, CA 90277
3103749000
Corona Lending Group - Mortgage Lender
1611 S Pacific Coast Hwy #102, Redondo Beach, CA 90277
3105945362
Redondo Mortgage Center
2304 Artesia Blvd, Redondo Beach, CA 90278
3103188999
SSK Mortgage
234 S Guadalupe Ave UNIT B, Redondo Beach, CA 90277
3105085396
John Mills Residential Mortgages
1611 S Pacific Coast Hwy #102, Redondo Beach, CA 90277
3107305689
West Coast Mortgage
824 Camino Real UNIT 206, Redondo Beach, CA 90277
3104034883
C2 Financial - Frank Kostrencich Real Estate Loans
304 Vista Del Mar F, Redondo Beach, CA 90277
3103448910
Riviera Funding
1801 S Catalina Ave # 201, Redondo Beach, CA 90277
3103737406
Great Castle Lending
1625 Aviation Blvd Ste B, Redondo Beach, CA 90278
4248882885
Reverse Mortgage Consultant
800 Pacific Coast Hwy, Redondo Beach, CA 90277
3103515145
Riviera Mortgage Group
1845 S Elena Ave #100a, Redondo Beach, CA 90277
3104066865
What Does a Reverse Mortgage Specialist in Redondo Beach Cost?
Typical costs for a reverse mortgage in California include an origination fee (up to $6,000), a mortgage insurance premium (2% of the home value upfront plus 0.5% annually), appraisal fees ($400 to $800), and closing costs ($1,000 to $3,000). Total upfront costs often range from $8,000 to $15,000, but can vary based on the loan amount and lender. These costs are usually financed into the loan. This is general information and 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 requirements for a reverse mortgage in Redondo Beach?
Borrowers must be at least 62 years old. If married, a younger spouse may be listed as a non-borrowing spouse, which allows them to remain in the home after the borrowing spouse passes away, as long as they meet certain HUD requirements.
Do I need to own my home free and clear to qualify for a reverse mortgage in California?
No, you do not need to own your home free and clear. You can still qualify if you have an existing mortgage, but the reverse mortgage must be used to pay off that mortgage first. The amount you can borrow depends on your age, the appraised value of your home, and current interest rates.
Are reverse mortgage proceeds taxable in California?
Reverse mortgage proceeds are generally not considered taxable income by the IRS or the state of California. However, interest on the loan is not deductible until the loan is repaid. You should consult a tax professional for your specific situation.