Fresno Reverse Mortgages
MLS Reverse Mortgage is a Fresno reverse mortgage lender offering the HECM (Home Equity Conversion Mortgage) Program. The HECM is the most popular reverse loan program in Fresno, 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 Fresno, California
Fresno 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 Fresno reverse mortgage is an increase in the total benefit available to them.
For comprehensive Fresno reverse mortgage information, please see the links above. If you would like someone to contact you, please fill out the form to the right or complete our reverse mortgage application.
Fresno Reverse Mortgage Numbers
|Fresno HECM Originations (Past 3 Years)|
|Endorsement Period||HECM Loans Originated|
|2/1/08 – 1/31/11||661|
Total for FRESNO: 661
The above chart shows HECM Loans Originated in the HUD FRESNO, 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 1, 2008 and January 31, 2011. Data Source: HUD Neighborhood Watch.
Reverse Mortgage Numbers Further Broken Down by MSA (Metropolitan Statistical Area)
|Fresno Total HOC HECM Originations (Past 3 Years)|
|MSA||HECM Loans Originated|
|Oxnard | Thousand Oaks | Ventura||1,070|
|Bakersfield | Delano||832|
|Visalia | Porterville||313|
|Madera | Chowchilla||194|
|Hanford | Corcoran||84|
Total for FRESNO HOC: 2,5821
HECM Loans Originated in HUD Office FRESNO 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 Fresno 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.
Fresno California Real Estate Information:
According to Trulia.com, the median sales price in Fresno, CA during December 2010 through February 2011 is $130,000.
Fresno California Links of Interest: California Reverse Mortgages | City of Fresno | Fresno-Madera Area Agency on Aging | Clovis Senior Center