Los Angeles Reverse Mortgages
MLS Reverse Mortgage is a Los Angeles reverse mortgage lender offering the HECM (Home Equity Conversion Mortgage) Program. The HECM is the most popular reverse loan program in Los Angeles, California. With a HECM reverse mortgage, you have several options to choose from including fixed rates, adjustable rates and purchase reverse mortgages.
FHA Reverse Mortgages in Los Angeles, California
Los Angeles is really seeing a benefit due to the Government’s passing of the American Recovery and Reinvestment Act of 2009, which increased the national reverse mortgage lending limit to $625,500. What that means to seniors looking to get a Los Angeles reverse mortgage is an increase in the total benefit available to them.
For comprehensive Los Angeles reverse mortgage information, please see the links to the left and above. If you would like someone to contact you, please fill out the form to the right.
Los Angeles Reverse Mortgage Numbers
|Los Angeles HECM Originations (Past 3 Years)|
|Endorsement Period||HECM Loans Originated|
|2/1/08 – 1/31/11||10,625|
Total for LOS ANGELES: 12,544
The above chart shows HECM Loans Originated in the HUD LOS ANGELES, CALIFORNIA HUD Field Office. Performance Period: Displaying HECM loans that were endorsed within the past 3 years. Data shown includes all cases with beginning endorsement date between February 01, 2008 and January 31, 2011. Data Source: HUD Neighborhood Watch.
Reverse Mortgage Numbers Further Broken Down by MSA (Metropolitan Statistical Area)
|Los Angeles Total HOC HECM Originations (Past 3 Years)|
|MSA||HECM Loans Originated|
|Los Angeles | Long Beach | Glendale||10,625|
|Oxnard | Thousand Oaks| Ventura||1,070|
|Bakersfield | Delano||832|
|San Luis Obispo | Paso Robles||476|
|Santa Barbara | Santa Maria | Goleta||371|
Total for LOS ANGELES HOC: 12,544
HECM Loans Originated in HUD Office LOS ANGELES rolled up to the MSA level
Performance Period: Displaying HECM loans that were endorsed within the past 3 years
Data shown includes all cases with beginning endorsement date between February 01, 2008 and January 31, 2011
Considering a Non-FHA Reverse Mortgage?
Due to the current housing market conditions, we are not able to offer a Los Angeles Jumbo reverse mortgage. Keep checking back periodically, as it is our belief that the jumbo, non-fha, proprietary reverse mortgage market will be returning soon.
Los Angeles California Real Estate Information:
According to Trulia.com, the median sales price in Los Angeles, CA during December 2010 through February 2011 was $300,250.