Richard SanVicente, MBA
Lighthouse Reverse Mortgage
Reverse Mortgage Specialist

Serving Alameda County, the Bay Area, & Northern CA.

We specialize in only Reverse Mortgages. We believe you can only specialize in one product to truly be an expert. That's why we don't sell LTC or any other products. However, if you need other products or services, we will bring in only the best specialists for you.

We believe that serving seniors is a privilege, and that every senior deserves the right to expect respect and receive it. List of Services: We believe that by specializing in only reverse mortgages, we provide better expertise and service to our customers.

"We strive to carry all the major Reverse Mortgage Product, so that you have full selection of the best options available today.” This allows us to be better informed and better able to guide you and get you the most that you deserve.

Example

Profile

The son of a 69-year old widow decided that he wanted to help his Mom have a better retirement. She lived in a $390,000 home. She needed home repairs/remodel, new living room furniture and more monthly income to live better. He also hoped she might someday do what she always wanted: visit Paris.

Need

Have home repairs/remodel done, new living room furniture and get increased monthly income; so that she could live in her upgraded home with more money for the rest of her life.

Solution

Her son encouraged her to get a $230,000 HECM HUD/FHA reverse mortgage. This gave her $20,000 in a lump sum (for repairs/remodel and furniture), $1,000 in extra monthly income (for life: as long as she's in the home) and approximately $36,000 extra from the reverse mortgage proceeds in a line of credit for safety (all tax free).

Result

Relief for the Son; that his Mom now has a comfortable retirement. The son completed the remodel and bought the new furniture for her. She also receives $1,000/mo (tax free) and has a credit line of $36,000 available to her. The remodel increased the value of her home and she is able to live her retirement more comfortably and is planning to visit Paris.

Example

Profile

A couple in their mid-seventies wanted more money to really enjoy retirement. They had a substantial nest egg and a home valued at $1,950,000. They also had a mortgage payment too big for their retirement.

Need

The couple wanted to do a minor remodel of their kitchen and live the rest of their lives at home with increased monthly income.

Solution

They replaced their $628,000 mortgage with a jumbo reverse mortgage for $844,000. With the reverse mortgage they eliminated their monthly mortgage payments and had approximately $211,000 remaining from the reverse mortgage proceeds in a line of credit. All tax free.

Result

A better life. They eliminated their monthly mortgage payment, completed the minor remodel and had almost $200,000 left over in a credit line. The kitchen remodel increased the value of their home and they were both able to live retirement even more comfortably than they had planned.

Example

Profile

Everything was fine until her husband died. After he died the 72-year-old widow was left with only $1500/mo income from savings and social security. The problem was that her monthly mortgage payment was over $1700/mo. She was dipping into the life insurance payout from her husband's death to make ends meet each month.

Need

She needed to find a way to make ends meet so she can live with the income left after her husband died. Her savings were almost gone and she didn't want to use the life insurance payout to make ends meet anymore.

Solution

Using a Jumbo Reverse Mortgage on her $600,000 home, she was able to eliminate her monthly mortgage payments. She now also has an extra $25,000
in a credit line.

Result

Peace of mind. Now that she doesn't have a monthly mortgage payment; there is enough money to pay her bills each month and live more comfortably.

Example

Profile

A widow in her mid-eighties has some in-home healthcare, but her health is declining. She has some income, but not enough to pay for the additional healthcare she'll need soon. She wants to stay home and not go to a nursing home.

Need

Since her health is declining, she needs to increase the amount of in-home healthcare she receives. She needs an extra $4,000/mo to pay for the additional in-home healthcare to maintain her quality of life at home, and avoid going to a nursing home.

Solution

Using a Jumbo Reverse Mortgage on her $650,000 home, she was able to set up a credit line for $335,000. She chose to receive a check for $4,000/mo tax free from her credit line to pay for the needed additional in-home healthcare.

Result

Quality of Life. Now there is enough money each month to pay for her increased in-home healthcare and she does not have to go into a nursing home.

Example

A couple in their mid-seventies wanted to finally retire. They had a small nest egg

a home valued at $750,000 and only a small mortgage. She did not want to sell her house with all those memories. She loved her house. Her husband had built a special room in the home with special equipment to help with her back treatments.

Need

She worried that social security would eventually fail and she wanted a significant financial cushion so that she could finally retire with her husband. She also wanted to payoff her medical bills before retiring.

Solution

Using a Jumbo Reverse Mortgage on her $750,000 home, they were able to payoff the $50,000 mortgage, get a $20,000 (tax free) lump sum and have $229,000 available in a credit line for future use.

Result

Retirement. She finally retired. They paid off the mortgage and medical bills and now have the financial cushion they needed to retire happily and stay in their home.

Please contact us at:

812 Jadecrest Drive, San Ramon, CA 94582
Email: rick@lighthousereversemortgage.com
Web: www.lighthousereversemortgage.com
Direct: (925) 848-6575
Toll Free: (800) 940-0728

. . . . or submit the form below, indicate your needs and we will contact you to let you know how we will help you.