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Novato 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 Novate and Marin County and throughout California.
Our team of originators has a team of experienced professionals who are familiar with the specific needs of homeowners in Novato, San Rafael, Petaluma, and Mill Valley. 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.
The Novato Housing Market
How many of your neighbors have done a reverse mortgage? Here are some interesting facts about reverse mortgages and the housing market in the greater Novato and the North Bay region.
In 2020 the median home value in Novato California was $928,000. The current maximum lending limit for FHA-insured reverse mortgages is $765,600 which means many homes in Novato and in the surrounding area would see most if not all of their full home value considered in the calculation of the potential maximum reverse mortgage loan benefit. Homes above $765,600 may choose to apply for a private jumbo reverse mortgage for higher-valued properties.
Reverse mortgages calculate the maximum available loan benefit 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.
Novato began as an early settlement of the Coast Miwok indigenous people in the 1300’s. In the mid-1800’s Mexico made several land grants to notable ranchers of the day. In 1856 the town had its first post office. Novato’s historical landmarks include the Druid’s Hall, a Presbyterian Church that once served as city hall, and the Pacheco Ranch Winery. Footwear fans should note that Birkenstock Footprint Sandals headquarters is located inside the city limits.
Contact your Novato and Marin County 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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