Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the California before hiring.
Showing 4 reverse mortgage specialists in Hayward, CA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Jaime Gonzalez - Envision Real Estate & Loans Inc
24301 Southland Dr #215, Hayward, CA 94545
5108626716
Motto Mortgage Golden Standard
781 W Tennyson Rd, Hayward, CA 94544
5108680000
J. Morthon Mortgage Refinance Hayward California
24301 Southland Dr, Hayward, CA 94542
5108803990
Lending Stem
26250 Industrial Blvd, Hayward, CA 94545
5108281360
What Does a Reverse Mortgage Specialist in Hayward Cost?
Typical costs for a reverse mortgage in California include an origination fee up to 6000 dollars a mortgage insurance premium of 2 percent of the home value and third-party fees for appraisal title and recording. Total closing costs often range from 5000 to 15000 dollars depending on the home value and loan type. These costs are usually financed into the loan so no upfront payment is required. This information is general and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What are the eligibility requirements for a reverse mortgage in Hayward?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The property must be your primary residence and be a single-family home HUD-approved condo or manufactured home that meets FHA standards. You also need to complete a counseling session with a HUD-approved agency.
How does California law affect reverse mortgage terms?
California Civil Code Section 1923.2 requires lenders to provide a clear disclosure of all loan terms and fees. The state also mandates a three-day right of rescission after signing the loan agreement. Borrowers must continue paying property taxes homeowners insurance and maintain the home to avoid default.
What happens to the loan when the borrower moves or passes away?
The loan becomes due when the last borrower dies sells the home or permanently moves out. Heirs have 30 days to decide whether to pay off the loan or sell the property. In California heirs can request up to two 90-day extensions to complete the process.