Reverse Mortgages Near You - Sacramento Reverse Mortgage Lender
Meet Tom Caruthers
Tom Caruthers
Reverse Mortgage Specialist
NMLS #2245401 | CA DRE #00812904
(916) 378-7443
Find the best reverse mortgage deals in Sacramento, California.
Tom Caruthers and My Reverse Mortgage are your team of choice in Sacramento when you need expert advice on anything to do with reverse mortgages – from Loomis to Roseville and throughout Placer County.
Tom is a veteran of the real estate and mortgage industries, having first dipped his toes into the business as a commercial real estate agent in 1978.
That’s why he’s often asked why, at his age and with all his experience, he’s selling reverse mortgages.
It’s a question he loves to answer.
“Because, according to insurance giant Northwestern Mutual Life, ‘One in three baby boomers have somewhere between $0 - $25,000 in retirement savings’,” Tom says.
“Even worse, nearly half (46%) of adults in America have taken no steps to prepare for the likelihood they could outlive their savings.
“The situation is dire and it’s happening all around us – to family, friends and people we know.
“If you’re a baby boomer, the percentages say it could happen to you.”
Tom is a baby boomer too and wants to help his peers.
He created My Reverse Mortgage, Inc. for the sole purpose of helping his baby boomer buddies survive their retirement with dollars in their pockets.
Why not see if he can help you too.
What is a reverse mortgage?
A reverse mortgage is an incredible loan device that has the ability to dig seniors and retirees out of very tight financial squeezes.
It is designed for people at least 62 years of age who have equity in their properties but not enough money in the bank to live on.
A reverse mortgage allows you to access that equity and convert it back into cash.
It provides a brand new income stream that allows you to continue to live in your family home without facing the unsavory thought of being forced to sell it and downsize just to see out your retirement.
The extra income allows you not only to pay for day to day expenses but potentially to splash out a little, like you’d always hoped and dreamed.
That might include a family vacation, updates to your home, simply the ability to enjoy some of the finer things in life without counting every penny.
Funds can be made available in a number of different ways including a line of credit, monthly installments, a lump sum or even a combination of all three.
As long as the terms of the loan are met, it does not require repayment until either the homeowner sells or the last surviving borrower passes away.
It’s one of the shrewdest ways homeowners can put their financial struggles to bed and give their standard of living a timely shot in the arm.
Home values are at a slight decrease of 0.8%, and prices are at an average of $462,948* (https://www.zillow.com/home-values/20288/sacramento-ca/).
There are 3,513 people in and around Sacramento who already enjoy the benefits of a reverse mortgage with 174 of them joining the party in the last 12 months*.
About Sacramento, California
Sacramento, California, is a vibrant and diverse city located at the confluence of the Sacramento and American Rivers. As the capital of California, Sacramento boasts a rich history, a thriving cultural scene, and a strong sense of community. With a population of over 500,000 residents, Sacramento is the cultural, economic, and political heart of the region.
Sacramento's history is deeply intertwined with the Gold Rush era of the mid-19th century, when the city experienced rapid growth and prosperity. Old Sacramento, a historic district along the waterfront, preserves the city's Gold Rush heritage with its cobblestone streets, historic buildings, and museums. The California State Capitol, located in downtown Sacramento, serves as the seat of government and is a symbol of the state's political significance.
One of Sacramento's defining features is its diverse and thriving cultural scene. The city is home to numerous museums, art galleries, and theaters, including the Crocker Art Museum, one of the oldest art museums in the Western United States. The Sacramento Ballet, Sacramento Philharmonic & Opera, and Sacramento Theatre Company offer residents a wide range of performing arts experiences.
Sacramento's natural surroundings provide ample opportunities for outdoor recreation and relaxation. The city's extensive network of parks, such as William Land Park and McKinley Park, offer residents green spaces for picnicking, jogging, and enjoying the outdoors. The nearby American River Parkway is a popular destination for hiking, biking, and water sports.
The city's sense of community is evident through its diverse neighborhoods, each with its own character and charm. Sacramento hosts a variety of cultural events and festivals throughout the year, including the Sacramento Music Festival, the Farm-to-Fork Festival, and the annual California State Fair.
Education is a top priority in Sacramento, with the Sacramento City Unified School District serving the city's K-12 students and several institutions of higher education, including Sacramento State University and the University of California, Davis, providing opportunities for higher learning.
As a reverse mortgage loan officer in Sacramento, I am proud to serve the residents of this dynamic and culturally rich city. Whether you're considering a reverse mortgage to access your home's equity or exploring financial options, I am here to provide expert guidance tailored to the unique opportunities and challenges of living in Sacramento. Sacramento embodies the best of California living, where history, culture, and community converge to create a vibrant and thriving capital city.
Contact your Sacramento reverse mortgage lender today.
Tom and his My Reverse Mortgage team are looking forward to speaking to anyone who thinks a reverse mortgage might assist them.
Please call Tom at (916) 378-7443 and he will be pleased to offer you a no obligation assessment of your position.
*As of February 2024
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