Welcome to C2 Reverse Mortgage Carlsbad
The right reverse mortgage san diego
Reverse mortgages allow you to turn your equity into retirement cash flow and live in the home you love the rest of your life. Click below to speak to our reverse mortgage specialist with over 20 years of experience.
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- 20 Years Experience
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Download Your FREE Reverse Mortgage Guide Today
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Call now to speak to us about reverse mortgages and jumbo reverse mortgages; get answers to any questions you may have; and learn why C2 Reverse is your best choice.
Our free eBook will help you learn the basics about Reverse Mortgage Loans. Discover how so many other retirees, just like you are living a happier life in this free eBook.
Stressed over mortgage payments? Discover in 5 minutes if a San Diego reverse mortgage loan is right for you and find out how much your home qualifies for.
Serving San Diego & California for Over 20 Years
We Help Clients Convert Home Equity Into Cash
Get The Funds You Need With A Reverse Mortgage To:
- Stay in your own home
- Supplement your retirement income
- Pay for your living expenses or medical bills
- Pay off your existing mortgage
- Benefit from no more monthly mortgage payments
- Gain financial security for your life's next chapter
Get a FREE Rate Quote Now!
We Beat What the Banks Offer
Our Reverse Mortgage Services
As one of the top reverse mortgage companies in California, we specialize in providing reverse and jumbo reverse mortgage retirement loans for borrowers 55 and over. Compared to a standard reverse mortgage, a jumbo reverse mortgage offers you a more considerable loan amount with no FHA premiums. Our rates at C2 are competitive and we offer a range of reverse mortgage options. Get in touch with one of our reverse mortgage or jumbo reverse mortgage loan officers in California to determine whether you qualify for a reverse mortgage loan.
Home Equity Conversion Mortgage
A HECM loan or Home Equity Conversion Mortgage is insured by the FHA. A unique features of a reverse mortgage loan is that it does not require repayment until the homeowner(s) no longer reside in the residence; last surviving borrower passes; or does not comply with the loan obligations.
Jumbo Reverse Mortgage
Jumbo reverse mortgages are a newer option for owners of higher-value properties. The jumbo reverse mortgage is perfect for today’s homeowners that have seen significant growth in value in recent years; homeowners of properties with values around $825,000 or higher. Learn more below.
HECM Reverse Mortgage for Seniors
HECM purchase reverse mortgages allows seniors age 55 or older to buy a new home with HECM loan proceeds. The primary benefit to the senior is that the transaction only involves one set of closing costs versus buying a home and obtaining a reverse mortgage thereafter. Apply online below.
Testimonials
Our Happy Clients!
Don't take our word for it. Hear it first hand.
“I recently refinanced two different properties through Dennis. He found us the best programs and made sure the process was as simple as possible. Dennis was very attentive throughout the approval and closing process, something that sets him apart from many of the mortgage brokers I dealt with in the past. I will absolutely go back to Dennis for any future mortgage needs.”
“This is my first and possibly my last review, I am only writing this review because of my great interactions with Dennis. I am a real estate developer in North San Diego County and I deal with mortgage brokers on a regular basis. Since working with Dennis on my own home I have referred him out to countless friends and family. He is knowledgeable about these products, he is quick to respond and most importantly he follows through. Top-level service!! I highly recommend Dennis.”
“We really enjoyed working with Dennis on our refinance. This was our 2nd time refinancing and the process was seamless using Dennis. Everything was done in a professional and timely manner and we could not be more happy with our new rate. Top notch service on all aspects of this process. I highly recommend using Dennis for your mortgage needs!”
Reverse Mortgage Toolkit
101 Reverse Mortgage Guide
If you’re 55 or older, A reverse mortgage loan or jumbo reverse mortgage loan may be right for you. Learn what a reverse mortgage is and how it works.
Reverse Mortgage Myths & Facts
Read about common myths followed by the facts of reverse mortgages that will bring clarity and assist you in making the most informed decision.
The Reverse Mortgage Process
Learn about the steps involved to obtain a reverse mortgage. Click below to learn more about the reverse mortgage process with C2 Reverse Mortgage.
Reverse Mortgage Calculator
Our reverse mortgage calculator shows how much home equity you can unlock. See how much money you can receive based on the value of your home.
Get Pre-Qualified Today
Click here for our “5 minute assessment to see if you qualify for a reverse mortgage today.
our process
Step By Step Reverse Mortgage Support
Our experienced reverse mortgage lenders will assist you step by step through the entire process to ensure the smoothest application possible. Before directing you how to fill out the application, we run an eligibility test. Our agent performs a financial assessment to ensure you meet the financial obligations required. You can also look at other finance options that might better suit your situation.
STEP 1
Education
Talk to one of our Reverse Mortgage Specialists, and we will create a customized comparison of the Reverse Mortgage programs available that best suits your particular situation.
STEP 2
Counseling
After you have completed all your research and determined that you want to apply for a Reverse Mortgage, it is mandatory that you attend Reverse Mortgage Counseling.
STEP 3
Loan application
After you have completed Reverse Mortgage counseling, you can schedule an appointment with one our experienced reverse mortgage officers to guide and assist.
STEP 4
Mortgage appraisal
After we receive your signed and dated counseling certificates and have completed the application, we will coordinate with an appraiser to visit your home.
STEP 5
Underwriting
Once we have received all inspection reports and preliminary reports, and checked the loan package for compliance and completeness, we submit the loan to the underwriter for review and approval.
STEP 6
Closing
Once your loan has been approved for final, we will arrange a signing session at the Title Company. Or a Mobile Notary will come to you. It takes around an hour to sign the final documents.
STEP 7
Disbursement
Refinance loans come with a three-day right to cancel. After the three-day "waiting period", funds are disbursed to your County and recorded. Most loans are funded within two business days.
STEP 8
Ongoing Support
At C2 Reverse Mortgage we strive to bring excellence to all of our clients including ongoing support for the life of your reverse mortgage. Anytime you have questions we are just a phonecall away.
Benefits of a reverse mortgage
Having additional cash allows you to live in your own home while having access to much-needed cash to maintain your desired retirement lifestyle.
Hospital Bills
Pay for hospital bills, medical bills and in home care.
Invest
Grow your portfolio by investing in property or other assets.
Live on Your Terms
Live in the home you love for the rest of your life.
Renovate
Improve your home and make living easier as you age.
Vacation
Buy a vacation home, caravan, or take that trip to the Maldives.
Significant Other
Provide the care and retirement your partner deserves.
Our Story
About C2 Reverse Mortgage Carlsbad
C2 Financial is one of the largest and most experienced reverse mortgage lenders in the country. Borrowers like you entrust us with one of the most important financial decisions of your life, that if not executed properly can have long-lasting repercussions as was witnessed in 2008 during the mortgage meltdown.
We know that despite our best efforts and the government’s best efforts to regulate the mortgage industry, our borrowers are too busy to review every last line of every single document. Our borrowers trust us as their mortgage advisor and that what they are signing is in their best interest.
Why Choose US
Why C2 Reverse Mortgage Carlsbad
We Care
Our Mortgage Loan Officers are here to help and genuinely care about our customers.
Top Rated
C2 was just rated the top mortgage broker in the country by Mortgage Executive Magazine.
extensive Experience
We have a complete understanding of how the application process works from years of experience.
One one one Support
California Wide Service
Competitive Pricing
20+ Years Experience
HOW TO GET STARTED
Get Pre-Qualified Today
Looking for information on what is a reverse mortgage?
Unsure of the benefits of a reverse mortgage?
Enter your details below to take our “5 minute assessment” to see if you qualify for a reverse mortgage.
Frequently Asked Reverse Mortgage Questions
What are the requirements to be considered for a Reverse Mortgage?
- All borrowers must be 55 years or older
- Home must be owner occupied as the primary residence
- Must be able to pay property taxes, required homeowners insurance, and maintain the property
What Is a Reverse Mortgage?
A reverse mortgage is typically insured by the Federal Housing Administration (FHA). Reverse mortgages provide access to funds by using your home’s equity. One key reason for C2 Financial Corp. to offer this type of mortgage is that it allows seniors to get cash while staying in their homes without making loan payments.
We understand that staying in a familiar environment becomes more important in your retirement years. Often there’s no income source, and unfortunately, there’s not always someone or a resource like a government agency to care for you as an old citizen. In any case, your home is one possession potentially available to be leveraged to help your situation. Understanding this, we offer borrowers the opportunity to stay in their homes without a monetary catch.
Imagine living in your home without a traditional monthly mortgage payment, or instead enjoying monthly loan proceeds from the years you’ve invested in your home. A reverse mortgage is a unique mortgage designed for seniors 55 and older. You may enjoy access to the equity in your home and the freedom and comfort of the home you’ve known for so many years. It’s your home, now you can put it to work for you.
Is a Reverse Mortgage Right for You?
Imagine living in your home without a monthly mortgage payment and enjoying monthly cash inflow. A reverse mortgage allows you to access the years of investments you’ve made your home loan. A reverse mortgage is a unique mortgage designed for seniors 55 and older. It allows them to access their home equity and enjoy the freedom and comfort of the home they’ve known for so many years.
How Do I Qualify For A Reverse Mortgage?
To become eligible for a reverse mortgage, you must be at least 55 years old and own your home. You must have equity in the house to pay off any outstanding balances, and your home must be occupied as your principal residence.
All applicants are subject to a financial assessment to determine their financial capacity and willingness to pay obligations and monthly mortgage payments as part of the qualification process.
How Much Money Could I Get?
The amount of money that a lender will loan depends on how old you are at the time of closing, how much your house is worth, the total amount of liens, and interest rates. The payoff of your existing mortgage and mandatory obligations along with the payment option chosen will affect the amount of money you will receive. HUD limits borrowers to using 60% of the available money (after closing costs & fees) in the first year. The remaining funds are accessible beginning year two. This maximum disbursement limit set by HUD allows for the GREATER of:
60% of the Principal Limit (amount of money available to the borrower in all years of the loan) in the first twelve months of the loan from your closing date OR…
The sum of Mandatory Obligations (existing mortgage payoff, tax liens, closing costs, mortgage insurance premium) plus 10% of the Principal Limit. This total cannot exceed the total Principal Limit at the time of loan closing.
How Do I Receive My Money?
There are several different options to choose from. You can take the money in a lump sum (up to HUD’s first-year maximum withdrawal)*, set up a line of credit, monthly payment, or a combination of all three. In the first year, the Line of Credit or monthly Tenure Payments or monthly payments cannot exceed 60% of the Principal Limit. After the first year, the available Line of Credit or Tenure/Monthly payments will be increased when applicable.
* Fixed interest rate reverse mortgages only allow for the Single Disbursement Lump Sum payment plan.
What Costs Are Associated With A Reverse Mortgage?
The fees and cost of a reverse mortgage are based on a number of items. For example, an origination fee is paid to the broker/lender, a MIP (mortgage insurance premium) is paid to the Federal Housing Administration (FHA) on the Home Equity Conversion Mortgage (HECM), an appraisal fee, a flood certification fee, a document preparation fee, title, settlement, and escrow fees. All costs are clearly shown on the Good Faith Estimate (GFE). Monthly servicing fees could apply.
What property types are eligible?
- Single Family Residence
- Condominiums (must meet FHA guidelines prior to obtain the Reverse Mortgage)
- PUD – Planned Urban Development
- Manufactured homes (must meet FHA and Lender guidelines)
- 1-4 unit properties
Why Is a Reverse Mortgage for You?
It’s the Loan That Pays You!
The reverse mortgage in San Diego CA was initially created for newly widowed wives. Managing household financial obligations in those days was onerous without their husbands. The financial constraint was often too much, and without skills or an income source, women could struggle to make ends meet. The reverse mortgage was introduced in 1961 and has since gained popularity.
In 1961, Nellie Young made history by getting the first reverse mortgage loan made possible by Nelson Haynes of Deering Savings & Loan. Nellie’s husband was Haynes’ best friend. When the high school football coach died, Haynes decided to help his friend’s widow by designing a reverse mortgage loan with her in mind. In 1988 the bill for this program was approved and signed by President Ronald Reagan. 10 years later the HECM program was made official by the HUD Appropriations Act.
In 2009, people finally got the chance to become homeowners without being drowned in monthly payments. The loan limit for reverse mortgages began at less than $200,000 and has since increased to $726,525.
You can use a reverse mortgage in California in several ways. If you have financial goals you would like to achieve before or after you retire, getting this loan may be extremely practical.
Do I Get Taxed On The Money I Receive?
While the proceeds you receive from a reverse mortgage are typically not subject to individual income taxation, you will need to consult your tax advisor.
History Of the Reverse Mortgage
The reverse mortgage in California was initially created for newly widowed wives. Managing household financial obligations in those days was onerous without their husbands. The financial constraint was often too much, and without skills or an income source, women could struggle to make ends meet. The reverse mortgage was introduced in 1961 and has since gained popularity.
In 1961, Nellie Young made history by getting the first reverse mortgage loan made possible by Nelson Haynes of Deering Savings & Loan. Nellie’s husband was Haynes’ best friend. When the high school football coach died, Haynes decided to help his friend’s widow by designing a reverse mortgage loan with her in mind. In 1988 the bill for this program was approved and signed by President Ronald Reagan. 10 years later the HECM program was made official by the HUD Appropriations Act.
In 2009, people finally got the chance to become homeowners without being drowned in monthly payments. The loan limit for reverse mortgages began at less than $200,000 and has since increased to $726,525.
Read More On Our FAQ Page
Go to our FAQs & Resources page.
Get Pre-Qualified Today
Click here for our “5 minute assessment to see if you qualify for a reverse mortgage today.
