Shop the best deals for Napa, California reverse mortgages.
Find the best deal on reverse mortgages in Napa, California.
Napa County Reverse Mortgage Lenders
For over 100 years Mutual of Omaha has been a trusted brand name. In that tradition of trust Mutual of Omaha Mortgage offers reverse mortgages to qualified homeowners in Santa Clara County, California, and in 48 of 50 states.
Each of our originators has a team of experienced professionals who are familiar with the specific needs of homeowners in Napa, Thompson, Imola, Santa Clara, Yountville and greater Napa County. We can walk you through the questions you’re certain to have and the process, should you decide to utilize your home’s value to create more cash flow in retirement.
How many of your neighbors have done a reverse mortgage? Here are some interesting facts about reverse mortgages and the housing market in Napa and other surrounding communities.
Napa Reverse Mortgage Facts
In 2020 the median home value in Napa was $867,000. Many homeowners in Napa may choose to apply for a private jumbo reverse mortgage for properties above $822,375. Private reverse mortgages provide significantly more proceeds for eligible homeowners with higher-valued properties. $822,375 is the current maximum lending limit for FHA-insured reverse mortgages. This means with a federally-insured reverse mortgage in greater Napa County (and across the country) the first $822,375 of their home value is considered in the calculation of the potential maximum reverse mortgage loan benefit.
In general, reverse mortgages calculate the maximum available loan benefit (before fees, costs, and lien payoffs) for qualified borrowers based on the home’s appraised value, the age of the youngest borrower, or named non-borrowing spouse, and the current/starting effective interest rate.
Napa, California has become synonymous with some of the world’s finest wines. While perhaps the best-known city in California Wine Country, Napa is actually the second-largest city in the region after Santa Rosa. The 2019 U.S. Census estimates Napa has 78,130 residents. The city of Napa is the county seat of the county which bears its name.
In 1847 the town’s original site plan was laid out by Nathan Coombs. Immigrants from Europe and Asia settled alongside the native Indian peoples. In fact, the name Napa was likely derived from the village of Nappan which was settled by the early native peoples. Unfortunately, the peace between settlers and Native Americans deteriorated into warfare with soldiers pushing surviving tribal members toward Clear Lake.
Before wine became the region’s most sought after commodity, gold prospectors spent their winters in Napa which drove up local prices of goods and services. The arrival of the California Gold Rush rapidly expanded the downtown corridor. During the Rush Napa’s first commercial winery was established in 1859 by John Patchett. It was the turbulent decade of the 1970s which saw the wine industry begin to establish itself as one of the region’s largest industries. Like many wine-producing regions Napa became renowned for its vineyards and wines thanks to the area’s Mederterranian climate and rich soils.
Local Napa attractions include the Skyline Wilderness Park, the Napa Valley Wine Train, The Napa Valley Operas House, and several wineries.
Contact your Napa County, California reverse mortgage lender today.
Homa Rassouli and her team at Mutual of Omaha Mortgage are ready to answer any questions or concerns you may have about a reverse mortgage. It's important to get the facts first, discuss your unique goals and needs, and see how much you may be able to qualify for with a reverse mortgage.
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