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Sunnyvale, California 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 Sunnyvale and Santa Clara County and throughout the South Bay Area.
Each of our originators has a team of experienced professionals who are familiar with the specific needs of homeowners in Sunnyvale, Mountain View, Cupertino, and Santa Clara. 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 Sunnyvale.
Sunnyvale Reverse Mortgage Facts
In 2020 the median home value in Sunnyvale was $1,798,333. Many homeowners in Sunnyvale may choose to apply for a private jumbo reverse mortgage instead of the federally-insured reverse mortgage which only considers the first $822,375 of the home’s appraised value. Unlike the federal-insured reverse mortgage, a private reverse mortgage includes several million dollars of the appraised value (limits vary by the lending institution) providing significantly more access to your home’s value.
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.
Although situated in the heart of Silicon Valley, Sunnyvale, California has a small town feel with its quaint downtown and heavily-treed streets. The area, like many in California, was first settled by native peoples. The Ohlone tribe was the predominant population until Spanish settlers arrived in the 1770s. A portion of the land granted to Francisco Estrada and his wife later became the cities of Sunnyvale and Mountain View. The year 1850 brought the arrival of Martin Murphy Jr. and family who established the Bay View ranch and wheat farm.
Present day Sunnyvale was named Murphy and Encinal until the U.S. Postal Service notified residents the names could not be used. On March 24, 1901 the city was officially named Sunnyvale being located in an area which was generally sunny amid foggy surrounding communities. Later in 1912 the city was officially incorporated.
Local attractions include the Sunnyvale Farmers Market, Las Palmas Park, Murphy Avenue in downtown, and the Sunnyvale Bay Trail.
Contact your Sunnyvale, California reverse mortgage lender today.
Homa 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. Call Homa today at 415-223-9481 to learn more or complete the steps below to get your free quote.
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