Shoping for the best reverse mortgage deal in Irvine, California? Look no further. Meet Jay Kaplan.
Reverse Mortgage Specialist
Irvine, California Reverse Mortgage Lenders
After over 40 years in the mortgage business, Jay Kaplan has never been as passionate about a mortgage loan as we are about reverse mortgages. Senior’s Choice Solutions' number one mission is to demystify a loan that is still generally misunderstood. Therefore, we are educating to bring the reverse into the intelligence-based financial planning tool it was always meant to be. Our aim is to create very long-lasting relationships based on knowledge and trust. Senior’s Choice Solutions serves the residents of Irvine, Westpark, Woodbury, Walnut, and Tustin California.
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 Irvine and Orange County areas.
There are already 3,860 people in or within 10 miles of Irvine who have a reverse mortgage today. In just the last 12 months 547 homeowners got a federally-insured reverse mortgage loan.
In 2021, the median home value in Irvine, California was $1,108, 188. Because the maximum home value that can be considered in a federally-insured reverse mortgage is $970,800, many homeowners in Orange County may opt instead to apply for a private jumbo reverse mortgage. A private jumbo reverse mortgage includes several million dollars of the home's appraised value when calculating the potentially available loan proceeds. (limits vary by the lending institution). This provides 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 borrowers or named non-borrowing spouse, and the current/starting effective interest rate.
About Irvine, California
Like many early California settlements, Irvine’s history is rooted in agriculture and ranching. In 1864, Jose Andres Sepulveda sold his interest of 50,000 acres, to pay off debts from the Great Drought. James Irvine acquired the interest of his other partners, who bought out Sepulveda, increasing his holding to 110,000 acres. The University of California asked the Irvine Company for 1,000 acres to build a new campus. The company sold the land for $1 and its planners created a master plan for a city of 50,000, surrounding the planned university campus. Today, Irvine California has the unique distinction of being one of the country’s largest planned urban communities.
Jay and his team at Senior’s Choice Solutions 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.
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