Santa Ana Reverse Mortgage Loans
Many Seniors today are using a Santa Ana reverse mortgage to enhance their retirement. The Home Equity Conversion Mortgage or (HECM) is the government insured mortgage provided by private lenders and insured by the Federal Housing Administration.A reverse mortgage may be a good option for you if you would like to:
- Live independently in your own home and maintain ownership
- Make home improvements and other enhancements
- Eliminate the monthly principal and interest payment on your mortgage
- Have more liquidity with a line of credit
The question that most people ask is how exactly does this all work.
You may qualify if:
- One homeowner is at least 62 years’ old
- The home is your primary residence
- The loan proceeds are enough to pay off your existing loan and closing costs
- Pass Financial Assessment in underwriting
Reverse Mortgages Broker Santa Ana CA
The best way to find out if a Santa Ana reverse mortgage is right for you is to begin with education. Our President, John Barlow, has written an informative book called “Understanding Reverse Mortgages”. He discusses all of the ins and outs of this product and shows three examples of clients using a Santa Ana reverse mortgage who have different situations. You can find the book here on Amazon, www.amazon.com/author/jbarlow. The next phase is to give us a call to see what your loan proceeds will be and which advantages apply to you. The loan amount will be determined by the appraised value or max claim amount, age of the youngest borrower or a non-borrowing spouse, and the expected interest rate.Reverse Mortgage Santa Ana CA
Sound Financial Mortgage LLC believes in supplying our customers with a solid education, outstanding service, and a wide variety of product options to meet your needs. We believe in honesty and integrity and we will always work to maintain your trust. If you are interested in learning more about Santa Ana reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Santa Ana reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Santa Ana
- To receive personalized Santa Ana reverse mortgage information
- Like to learn more about how it works and if it is right for you
- To find out more information about reverse mortgages
- If you are interested in learning more about the advantages vs. disadvantages
- If you would like more information on reverse mortgage counseling
- To determine eligibility requirements and how much you may qualify to receive
Santa Ana Tidbits
Santa Ana is located 12 miles inland from the Pacific Ocean and 33 miles south of Los Angeles. The current population of this community is about 325,000 people. In 1869, when a man from Kentucky named William Spurgeon rode through the area on horseback, the land currently known as Santa Ana was covered with tall yellow mustard. The wild growth was so high that Mr. Spurgeon had to view the land by climbing a sycamore tree. A man named Jacob Ross sold Mr. Spurgeon 74.2 acres for $595, after Mr. Spurgeon realized that he liked what he saw. This is where Mr. Spurgeon built his community.Mr. Spurgeon began his community with 24 blocks of approximately ten lots each and called it Santa Ana. Mr. Spurgeon spent the remainder of his life in active service of what became his community. Mr. Spurgeon became postmaster in 1870. The year 1886 brought the incorporation of Santa Ana as a city and Mr. Spurgeon became the first mayor. The population of the new community was 2,000 people. Later that same year, under the Municipal Corporation Act the community was reincorporated. By that time the population of Santa Ana had increased by 500 people.
Mr. Spurgeon was also responsible for the supply of water to the community. His small water tower and artesian well supplied the resident with water in 1869. Mr. Spurgeon is also responsible for the public transportation history in the community. In order to meet the Wells Fargo stage with its passengers and mail and to make easier access to Anaheim, Mr. Spurgeon paid for and constructed a road through the mustard fields. Well Fargo established an office in Santa Ana in 1874. The Santa Fe trains had reached the community by 1888.
In 1870, in a private home, the first school room was established in Santa Ana. A lady named Mrs. Annie Cozad was the first teacher. Central School, which was the first school building, had two stories. Later a high school was constructed. The school shared a building for junior college classes in 1915. It wasn't long before the college classes took over the whole building. The Junior College in started its own campus in 1946.
The first fire engine was bought by Santa Ana in 1921. Santa Ana has always been the primary political and administrative center of Orange County. In 1889, Orange County was finally established and Santa Ana was selected to be the county seat following many unsuccessful attempts to separate from Los Angeles County. The man elected as the chairman of the County Board of Supervisors was Mr. Spurgeon.
The Civic Center Plaza houses the new City Hall. A replacement building was constructed on the same location that also housed the police department following the earthquake in 1933.
There have been changes to the character of the downtown area brought about by the continuous growth of the population. There were high rise buildings and very large apartment complexes by the 1980's. There have been some rather dramatic incidents in Santa Ana. A crowd had gathered to watch the 4th of July celebration and watched in horror as the parachute of a balloonist didn't open and the man fell to his death in 1900. Residents gathered to watch a deliberately set municipal fire intended to burn down Chinatown close to Main and Third as the result of a rumored case of leprosy in 1906. A plane built by a man named Glenn Martin flew for a distance of 100 feet, eight feet off the ground in 1909. Sufficient snow fell in 1949 for the children of Santa Ana to enjoy it during their recess. In order to save homes and stop the erosion, EL Toro marines lowered some frames from old automobiles from helicopters in 1969 during some extremely heavy rains.
Sometimes there was a cow, chickens and nut and fruit trees in back yard gardens during the early years of Santa Ana. There were celery fields close to what is currently known as Bristol and Warner Streets. The raisin vineyard owned by a man named August Reiter was located where the current newspaper building for the Orange County Register is currently located. These days, the business area is crammed with the super giants such as the Segerstrom Buildings, located at Tenth and North Main Streets and the homes in Santa Ana are city homes.
In an attempt to encourage new business opportunities and bring back lost businesses, using federal aid, a redevelopment program for the Santa Ana downtown area was undertaken during the 1980's. In the 2800 block of North main Street a very large new shopping center was constructed at the same time.
Santa Ana remains a vibrant and flourishing community with a bright future and an amazing past history. It is still a great place to raise a family and work, play, and live.
