Reverse Mortgages in Bakersfield, CA

Bakersfield is an amazing place to spend your golden years in, with sunny weather and friendly retirement neighborhoods. Senior Lending Corporation helps give older Bakersfield homeowners financial flexibility with a reverse mortgage, whether a proprietary mortgage or a Home Equity Conversion Mortgage (HECM). You can leverage the equity you have built in your home over the years and eliminate monthly mortgage payments, supplement your retirement income, pay off credit card debts or use the added cash flow however you choose.

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How Does a Reverse Mortgage Work?

Once you decide that working with a reverse mortgage company makes sense for you, our expert team will guide you through the options that are available while answering any questions along the way about reverse mortgages. Your options are:

HECM: A Home Equity Conversion Mortgage is federally insured. One borrower must be at least 62 years old. When applying for an HECM, you’ll first complete a counseling session to ensure you understand the eligibility requirements, relevant costs and benefits.
Proprietary mortgage: Unlike an HECM, a proprietary mortgage isn’t federally insured, and the borrower must be 55 years old and up. A proprietary mortgage offers higher loan limits, making it suitable for properties with a higher value. There is no mortgage insurance premium to pay with a proprietary mortgage.

Either option requires you to use the equity on your primary residence, and you have to live in that property as your primary residence. With a reverse mortgage, you eliminate monthly mortgage payments and gain funds to use for a variety of purposes.

Benefits of Reverse Mortgages for Bakersfield Homeowners

By working with a proprietary mortgage or HECM company in Bakersfield, like Senior Lending Corporation, you will have the chance to stay in the community you love while enjoying more comfort in your retirement years. Reverse mortgages give homeowners, like yourself, the peace of mind to have more financial flexibility for whatever life brings.

For instance, Bakersfield reverse mortgages can give you funds for home improvements, such as making your home more accessible, strengthening it against earthquakes, repairing roofs or adding energy-efficient upgrades. Improvements like these allow you to live safer and more comfortably as you grow older. You can also use the funds to cover health care costs, pay off debts or provide heirs an inheritance.

800-822-1190

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98% Client Satisfaction Rate

We recently worked with Senior Lending to refinance to pay off our mortgage and we are overall pleased with the experience. Their customer service was…

– Shedrick L.

“We had quite a large mortgage payment and if something happened to either one of us, with the loss of income, the other one would have to sell and move…

– Miguel & Gabriela P.

“The HECM has improved my retirement. It has opened many opportunities for leisure time and money to do things that weren’t available prior. I recommended…

– John R.

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Choose Senior Lending Corporation as Your Mortgage Advisor in Bakersfield

We work with integrity and a willingness to educate older adults about their financial options. We start with an initial conversation with an experienced advisor to learn about your goals and get you an initial quote for your primary Bakersfield residence. Your advisor then works on the application and any other necessary tasks. If you’re approved, you have full access to your funds.

Find out how you can eliminate monthly mortgage payments, supplement income or set up a line of credit and still own your home. Contact us to get started with your Bakersfield reverse mortgage today.