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 Simi Valley, Ventura County, and throughout Southern California.
Our team of originators has a team of experienced professionals who are familiar with the specific needs of homeowners in Simi Valley, Thousand Oaks, Calabasas, and Oxnard. 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.
Debbie is familiar with the specific needs of local homeowners. He 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.
How many of your neighbors have done a reverse mortgage? Here are some interesting facts about reverse mortgages and the housing market within 10 miles of Simi Valley.
There are already 2,169 people in or within 10 miles of Simi Valley who have a reverse mortgage today. In just the last 12 months 296 homeowners got a federally-insured reverse mortgage loan.
In 2021 the median home value in Simi Valley was $778,145. The current maximum lending limit for FHA-insured reverse mortgages in 2022 is $970,800 which means most homes in Simi Valley and in the surrounding area should see most if not all of their full home value considered in the calculation of the potential maximum reverse mortgage loan benefit. Homes above $970,800 may choose to apply for a private jumbo reverse mortgage for higher-valued properties.
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 borrower, or named non-borrowing spouse, and the current/starting effective interest rate.
Simi Valley is situated 30 miles from downtown Los Angeles surrounded by the Santa Susana mountain range. This picturesque community is home to over 125,000 residents. The Ronald Reagan Presidential Library overlooks the valley floor and is one of most-visited libraries of its kind in the nation with nearly one-half million visitors each year.
Among Simi Valley’s landmarks and attractions are Bower’s Cave, The Ronald Reagan Presidential Library, Corriganville Park, The Skateboarding Hall of Fame, House of the Book, and the Rocky Peak Hiking Trail.