Your Orange County Reverse Mortgage Lender

American Senior Lending

Specializing in Reverse Mortgages
Serving Orange County

866-714-2040

marketing@americansenior.com

Company NMLS #7147

Reverse Mortgage Explained

A reverse mortgage allows you to convert a portion of the equity in your home into cash you can use now or set up as a line of credit for future needs. Below are some key 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 choose whether to make monthly mortgage payments or not. However, just like with any mortgage, you’re still responsible for paying property taxes and insurance, as well as keeping your home in good condition.

Curious if there’s a catch? There isn’t.

At American Senior Lending, transparency is key—no surprises, especially with your interest rate.
You’ll never owe more on your mortgage than your home’s value.
Your house still belongs to you. Pay off your loan at any time. However, as with any mortgage, there is a risk of foreclosure if the borrower defaults.

Finally, a reverse mortgage that’s truly straightforward.

We’re different from other reverse mortgage lenders. We’ll walk you through every step, in person, with clear, honest, and transparent guidance. That’s how we operate.

Full transparency & integrity

Reverse mortgages can be a valuable financial tool. We’d be happy to show you how one might work for you if you qualify, and we’ll be upfront if it’s not the right option for you.

Unsurpassed customer service

You’ll experience the American Senior Lending difference the moment you meet with us—beginning with the fact that we take the time to 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.

I highly recommend Mark Eshelman. Mark has gone way out of his way to help me get my reverse mortgage. There were a few obstacles with...read more

Claire Drake

Mark Eshelman helps his clients understand Reverse Mortgages before moving them fforward.He listens to their needs and objectives prior to....read more

Pia Meyer

Helpful, friendly, excellent advice, great communicator, thoroughly knowledgeable - a friend and go-to guy for anything reverse mortgage related.

Kila Chong

Showing our 5 star reviews

Questions? We've got answers.

What is a reverse mortgage?

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.

What is a Home Equity Conversion Mortgage (HECM) loan?

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.

What are the basic requirements for a HECM reverse mortgage?

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.

What percentage of equity is required for a reverse mortgage?

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.