San Francisco Reverse Mortgages
MLS Reverse Mortgage is a San Francisco reverse mortgage lender offering the HECM (Home Equity Conversion Mortgage) Program. The HECM is currently the most popular reverse loan program in San Francisco, California due to the lack of secondary market for the jumbo reverse mortgage. 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 San Francisco, California
San Francisco 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 San Francisco reverse mortgage is an increase in the total benefit available to them. Use our reverse mortgage calculator to determine the total benefit.
For comprehensive San Francisco 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.
San Francisco Reverse Mortgage Numbers
|San Francisco HECM Originations (Past 3 Years)|
|Endorsement Period||HECM Loans Originated|
|2/1/08 – 1/31/11||8,381|
Total for SAN FRANCISCO: 8,381
The above chart shows HECM Loans Originated in the HUD SAN FRANCISCO, 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, 2001 and January 31, 2011. Data Source: HUD Neighborhood Watch
Reverse Mortgage Numbers Further Broken Down by MSA (Metropolitan Statistical Area)
|San Francisco Total HOC HECM Originations (Past 3 Years)|
|MSA||HECM Loans Originated|
|Oakland | Freemont | Hayward||2,593|
|San Francisco | San Mateo | Redwood City||1,843|
|San Jose | Sunnyvale | Santa Clara||1,652|
|Santa Rosa | Petaluma||615|
|Santa Cruz | Watsonville||310|
|Vallejo | Fairfield||301|
|Eureka | Arcada | Fortuna||262|
Total for SAN FRANCISCO HOC: 8,381
HECM Loans Originated in HUD Office SAN FRANCISCO 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 San Francisco 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.
San Francisco California Real Estate Information:
According to Trulia.com, the median sales price in San Francisco, CA during December 2010 through February 2011 was $595,000.