Reverse Mortgage Pomona California with Kevin A. Guttman

Are you about to retire from work, and you’re putting things in place to have a lovely retirement? Then, going for a reverse mortgage in Pomona California is an option you might want to opt for. You’re qualified to get a reverse mortgage if you are over 62 years, and you own a home with adequate home equity. As a homeowner, a reverse mortgage allows you to borrow equity. Rather than paying the lender, the lender makes payment to the borrower.

Eliminate Monthly Mortgage Payment

How does a reverse mortgage work in Pomona California

With a reverse mortgage, you’re not required to make any monthly mortgage payments as long as you still stay in the house, and you continue to meet your usual obligations. These obligations include payment of your property taxes, maintaining your property, plus homeowners’ insurance.

Pomona California reverse mortgage payment

Reverse Mortgage payments can be made either as a lump sum, Periodic advances through a line of credit, as a monthly payment as long as the borrower still resides in the home, or as a combination of any of them. Now comes the question, what precisely do you stand to gain by taking a reverse mortgage?

    
 
 
         
   Cheryl Hendershot 
 
 
 
 Trustindex verifies that the original source of the review is Google. Kevin was wonderful to work with.  He was very patient and answered all questions quickly.  He explained the steps along the way so we understood what was expected and were able to provide all information. We are very pleased with how the process worked.
  
 
        
   Victoria Dziezawiec 
 
 
 
 Trustindex verifies that the original source of the review is Google. Kevin did an exceptional job of making a challenging loan process appear seamless. We met face to face which can be rare in this industry of phones and computers. His attentiveness to detail, great communication, expediting the loan quickly, and making sure we got the best rates possible. He walked along side me to make sure every detail was completed according to requirements. Kevin was very intentional, thoughtful, considerate, helpful, trustworthy and experienced with absolutely no pressure during this entire process. I would highly recommend Kevin if you need to get a reverse mortgage. I was treated more like a partner in the process and instead of just his client. I felt I can reach out to him with any concerns or questions at any time and now also going forward. Thank you Kevin!
  
 
        
   Steve Burch 
 
 
 
 Trustindex verifies that the original source of the review is Google. I truly appreciated how carefully and completely Kevin helped me understand how Reverse Mortgages work and what the benefit it was for my wife and me. We are fully satisfied with how our reverse mortgate has benefitted our lives and finances.
  
 
        
   Lynzee Logan 
 
 
 
 Trustindex verifies that the original source of the review is Google. Oh boy, where to start.  First of all, five stars isn’t nearly enough. Refinancing sounds straightforward on paper. In reality it’s a psychological endurance test disguised as paperwork. We were getting curveballs from underwriting what felt like daily. New requests. New hoops. New “just one more thing.” It would have been very easy for this whole process to spiral into frustration (and it did, over the course of five months because Kevin was our second mortgage broker because the first person didn’t have the goods) on a daily basis. Through all of it Kevin was steady. Calm. Patient. Never reactive. Never flustered. When I was ready to lose my mind, which happened more than once, he stayed grounded and clear. He consistently advocated for us. He didn’t just pass messages along he pushed back when needed, asked better questions, and made sure we weren’t getting steamrolled. He was the lighthouse in the storm. When underwriting felt chaotic he was stable. When things felt uncertain he was reassuring without making empty promises. He never overpromised just to calm me down. He told the truth and then handled it. Refinancing was far more invasive than we expected considering we’re successful, self employed, great credit and very qualified to everyone except underwriters (apparently). It tests your patience and honestly your nervous system. Having someone calm and competent walking you through it makes all the difference. We’re incredibly grateful. And we’d absolutely work with Kevin again.
  
 
        
   Morgan Irish 
 
 
 
 Trustindex verifies that the original source of the review is Google. I can’t say enough great things about Kevin Gutman. He has been excellent to work with and has helped me in countless ways. He made the entire process smooth and stress-free, always making himself available to answer questions. Kevin truly cares about his clients and always puts your best interests first. I’m so grateful for his guidance and would absolutely recommend him to anyone needing a mortgage broker.
  
 
        
   Jessica Bair (jeccadawnvagabond) 
 
 
 
 Trustindex verifies that the original source of the review is Google. Kevin went the extra mile for us! We had been looking for a house for over a year. Once we got in touch with him, he stayed up to date with us so if a house came available we would be ready to jump on it. Kevin got us an incredible rate! We would highly recommend Kevin to help with any of your mortgage needs.
  
 
        
   Chrystine Kelley 
 
 
 
 Trustindex verifies that the original source of the review is Google. Kevin is amazing!  I was struggling trying to figure out how to help a disabled friend save her home due to back taxes.  Luckily, I found Kevin!  He is very knowledgeable, helpful, understanding and kind.  He walked us through all of her options and we were able to save the home with a reverse mortgate.  Several things needed to be done before she could get the loan approval (painting, roof and gutters) and Kevin helped us find some wonderful contractors that did the work at a reasonable price and they were even willing to wait until the loan closed for payment.  My friend was under serious time constraints to save the home and Kevin expedited everything and got it done in less than 30 days.  We were blessed to have found such a caring, communicative and compassionate real estate broker!  Highly recommend!
  
 
        
   Lori Hardy 
 
 
 
 Trustindex verifies that the original source of the review is Google. I can’t give enough credit to Kevin for making this process easy for me. He is a consummate professional and made it a seamless transition. He was always in constant communication either by phone or text. It can be a daunting experience but Kevin makes it simple and understandable. I highly recommend him!
  
 
        
   Jacqueline Keller 
 
 
 
 Trustindex verifies that the original source of the review is Google. I highly recommend Kevin Guttman for refinance. I spent 4 months with a different company before they dropped me. They had issue with my off-grid home. Kevin's people were able to use the appraisal I already had. My reverse mortgage was done in mere weeks.
  
 
        
   Guy Case 
 
 
 
 Trustindex verifies that the original source of the review is Google. My connection with Kevin, covers nearly 20 years. We met through a friend when the 3 of us were loan originators. I am now a Notary Public and Certified Reverse Mortgage Signing Professional.  For years, now, I've had the pleasure of helping Kevin help his Reverse Mortgage borrowers at their homes to notarize their documents and complete their loan closing. Kevin's clients have an exceptional understanding of their Reverse Mortgage loan/product.  The borrower's and Kevin have reviewed the documents and questions have been clearly answered.  Rarely, do the borrowers have questions at the closing table.  The document preparation is thorough. I always ask the borrowers how they met Kevin; many are repeat customers.  Some say a friend or family member is a client of his.  A few times they say they found him online and were quickly impressed by his patience, kindness, knowledge and follow-up. When my wife, Ruth, and I are ready for a Reverse Mortgage, or any mortgage, we won't need to shop around.  I've always heard raving reviews about Kevin from his borrowers.  They become friends! Respectfully, Guy
  
 
  
  
 
 
   Google rating score: 5.0 of 5, based on 103 reviews 
 
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Geographic info for (Insert Location)

Pomona (/pəˈmoʊnə/ ^ⓘ pə-MOH-nə^[8]) is a city in eastern Los Angeles County, California, United States. Pomona is located in the Pomona Valley, between the Inland Empire and the San Gabriel Valley. At the 2020 census, the city's population was 151,713.^[7] The main campus of California State Polytechnic University, Pomona, also known as Cal Poly Pomona, lies partially within Pomona's city limits, with the rest being located in the neighboring unincorporated community of Ramona.

Pomona is 30 miles (48 km) east of Los Angeles^[19] in the Pomona Valley, located at 34°3′39″N 117°45′21″W (34.060760, −117.755886).^[20] According to the United States Census Bureau, the city has a total area of 22.964 square miles (59.48 km²), over 99% of it land.

Pomona is approximately 30 miles (48 km) east of downtown Los Angeles, 27 miles (43 km) north of Santa Ana, 26 miles (42 km) west of Riverside, and 33 miles (53 km) west of San Bernardino.

Pomona is bordered by the cities of San Dimas on the northwest, La Verne and Claremont on the north, Montclair and Chino on the east, Chino Hills and Diamond Bar on the south, Walnut, South San Jose Hills, and Industry on the southwest, and the unincorporated community of Ramona on the west. The Los Angeles/San Bernardino county line forms most of the city's southern and eastern boundaries.

Reverse mortgage rates Pomona California

As a homeowner, reverse mortgage makes you live a more comfortable retirement. It allows you to continue living in your home while also getting paid. Reverse mortgage rates will vary opto the current market rates, loan amount and credit history. Contact the Kevin A. Guttman team to see what today’s mortgage rates are, call (877) 251-9709

Here are the benefits to a reverse mortgage.

You remain as the homeowner on title.
You still retain ownership of your home.
You can also choose to take your funds whichever way you desire.
You can take it as a lump sum at once.
You can also take it as a line of credit that can be tapped when needed.
You can choose to have a steady stream to be paid monthly for a specific period, or as long as you are still a resident of the home.
You are entitled to as citizens from the government are generally not affected by a reverse mortgage loan.
You’ll still get your social security or your Medicare benefits.

Once your loan has been repaid, you or your heirs are entitled to the remaining equity. In other words, the remaining equity belongs to you. These are the benefits of taking a reverse mortgage.

refinance your current reverse mortgage to access more equity

Pomona California reverse mortgage broker

Another option is that you can be paid with a combination of these options. However, if you opt for a fixed-rate loan, you’ll be paid a single disbursement lump sum. This is good if you have a significant project you need to spend on. Contact the team at Kevin A. Guttman to get more information on a reverse mortgage.

Like every form of home financing, there are pros and cons to each. For many, a reverse mortgage is a huge lifeline and well suited to their particular situation. For those homeowners, the pros of a reverse mortgage outweigh the cons.

Here are some reverse mortgage pros for your consideration.

The proceeds are not taxable.
The borrower is not responsible for the repayment of the loan.
You can also choose to take your funds whichever way you desire.
You can take it as a lump sum at once.
You can also take it as a line of credit that can be tapped when needed.
You can choose to have a steady stream to be paid monthly for a specific period, or as long as you are still a resident of the home.
You are entitled to as citizens from the government are generally not affected by a reverse mortgage loan.
You’ll still get your social security or your Medicare benefits.

Here are the cons of a reverse mortgage.
Property taxes, homeowners insurance, other housing fees such as HOA dues or Flood insurance must be paid by you as with any home. You have to live in the home 6 months or more a year as your primary residence, and maintain the home.

The proceeds are not taxable.
The borrower is not responsible for the repayment of the loan.
You can also choose to take your funds whichever way you desire.
You can take it as a lump sum at once.
You can also take it as a line of credit that can be tapped when needed.

What qualifies for a reverse mortgage in Pomona California

This particular type of home financing is only available to senior homeowners and the program has been recently reformed to be more fair and favorable towards seniors. A reverse mortgage, for many, is a solution that changes their life.

The proceeds are not taxable.
The borrower is not responsible for the repayment of the loan.
You can also choose to take your funds whichever way you desire.
You can take it as a lump sum at once.

One couple we recently helped wanted to downsize to a house that had main floor living and no yard maintenance. They had enough equity in their home to qualify for the HECM For Purchase (H4P). They were able to purchase a home with main floor living in the neighborhood close to their grand kids and have NO monthly mortgage payment. For them, the cons of a reverse mortgage were outweighed by the benefits!

finance a new home with a reverse mortgage for purchase

access more money & better loan options with a reverse mortgage

Jumbo reverse mortgage in Pomona California

A jumbo reverse mortgage can help you tap into your home equity during retirement and help you face everyday challenges. When you meet the age and credit score requirements, the jumbo reverse loans can be a place to age and increase your cash flow with rising healthcare costs, education, or helping out other family members.

Jumbo reverse mortgage loans are targeted at new homeowners with homes valued upwards of 600,000$. These loans come with some essential key features that make them stand out, providing more alternatives and borrowing power for homeowners with high-valued properties.

Private firms and larger banks are generally responsible for jumbo reverse mortgages, however, mortgagers are subject to the same obligations under traditional reverse mortgages to finance their high-valued property.

Reverse mortgage lenders near Pomona California

If you want to know if a reverse mortgage is right for your situation, you can get a free confidential analysis. We’ll ask a few questions and can easily determine if your property qualifies for a reverse mortgage. Get your FREE confidential analysis.