I’m here for all your reverse mortgage needs.

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Charles Hamilton

NMLS #448392

Branch Manager

916-267-4068

chamilton@americansenior.com

American Senior

Company NMLS #7147

7777 Greenback Lane, #205, Citrus Heights, CA 95610

Branch NMLS #288881

Reverse mortgages, explained.

In simple terms, a reverse mortgage is a way to turn the equity you’ve built up in your home into funds you can use today, or a line of credit that will be there for you in the future. Here are some of the features of a reverse mortgage loan.
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Some products are available to homeowners as young as 55 and up in select states.  The HECM Reverse Mortgage product is for homeowners 62 and over.

Similar to a line of credit—with a flexible payment schedule.

You determine your monthly mortgage payment. Or opt not to make a monthly mortgage payment. Like with any mortgage, taxes and insurance payments are still required and it is your responsibility to maintain your home.

Wondering what the catch is? There isn’t one.

  • At American Senior, we don’t believe in surprises. Especially when it comes to your interest rate.

  • You’ll never be liable for any amount of the mortgage that exceeds the value of your house.

  • Your house still belongs to you. Pay off your loan at any time.  As with any mortgage, there is a risk of foreclosure if the borrower defaults.

Finally, a reverse morgage that’s completely straightforward.

We’re not like other reverse mortgage lenders. We guide you through every step of the process. In person. Clearly. Honestly. Transparently. It’s just the way we do things.

Full transparency & integrity

Reverse mortgages are a great financial tool. We’d love to show you how one could work for you if you qualify. We’ll also be the first to tell you if it’s not a good fit.

Unsurpassed customer service

You’ll notice the American Senior difference the second you sit down with us —starting with the fact that we actually sit down with you, face to face.

Innovative loan expertise

With decades of experience in the financial space, we’re making history with our diverse lineup of product offerings, some of which allow people as young as 55 to access a reverse mortgage.

Here is what a few of my customers have to say.

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Questions? We've got answers.

A type of loan that allows senior homeowners to borrow against the equity in their homes. Also like a traditional mortgage, when you take out a reverse mortgage loan, the title to your home remains in your name. However, unlike a traditional mortgage, with a reverse mortgage loan, borrowers don’t make monthly mortgage payments. The borrower is still responsible for paying their property taxes and insurance and maintaining the home.

A Home Equity Conversion Mortgage (HECM) is a federally insured reverse mortgage program, regulated by the U.S. Department of Housing and Urban Development (HUD). Borrowers are responsible for paying the premiums of that insurance.  A HECM is the most common type of reverse mortgage and offers several safeguards for eligible homeowners. 

To qualify for a HECM reverse mortgage, you must be at least 62 years old, own your home outright or have a low mortgage balance, and live in the home as your primary residence. Your eligibility will also be determined by a financial assessment to ensure you can meet ongoing obligations like property taxes and insurance.

The amount of equity required for a reverse mortgage varies based on factors such as your age, the home’s appraised value, and current interest rates. Generally, the older you are and the higher your home’s value, the more equity you can access.