Los Angeles Reverse Mortgages

Los Angeles, CAMLS 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.

Los Angeles California Links of Interest: California Reverse Mortgages | City of Los Angeles | Community and Senior Services of Los Angeles | St. Barnabas Senior Center | West Hollywood Senior Center