Orange County Reverse Mortgage –

Santa Ana Reverse Mortgage

Top 5 reasons to talk to us about a Santa Ana Reverse Mortgage

  1. Financial planning. The value of your home will move up or down regardless of the mortgage you have on it, if any. Why not rebalance some equity into other investments? See our example case studies for more options, or ask us, but one family pulled money out of their primary home to buy a 2nd home for cash near their grandchildren. No equity was lost – they just shifted it from one house to two, and enjoy a better quality of life to be near family.
  2. Cash is King. It’s always better to have liquid funds available and not need it, than the other way around.
  3. Clear out medical or other debts, and improve your quality of life. One couple had several thousands of dollars in dental work they’d put on a credit card, and were steadily paying down via social security, but that meant not visiting their children. With a reverse mortgage you’ll still leave the home to your kids if that’s what you choose, they’ll just have a small mortgage on it they can refinance or pay off.
  4. Stay out of a Nursing Home. By planning ahead with retrofitting and in-home care when you’re further along and need some help, a Santa Ana Reverse Mortgage can help you by freeing up cash for this.
  5. Giving to family while you’re around to enjoy the transfer. A lot of well meaning families plan to leave their home to heirs – but by spreading this out over a number of years, you may be able to reduce the tax implications by staying below the annual gift-tax threshold, and you’re also able to have a hand in directing those funds toward grandkid’s college funds, travel together and more.

Next step: Schedule a free consultation with us about your Ana Beach Reverse Mortgage and get some options. No pressure – just numbers to consider.

More about our city…

Santa Ana is the largest city in Orange County, California and is the county seat. It lies approximately 10 miles inland from the Pacific Ocean, on the largely seasonal Santa Ana River. It is today best-known for its enormous Mexican American population, now comprising over 75% of what was once a virtually all-white city. It has the highest percentage of Latinos among the 50 largest cities in America.

As of the census of 2000, there were 337,977 people, 73,002 households, and 59,788 families residing in the city. The population density was 12,451.9/mi². There were 74,588 housing units at an average density of 2,748.0/mi². Some consider these numbers to be severely undercounted, and put the population, which may consist of up to 25% illegal immigrants, at 500,000. Santa Ana’s population density is 4.6 per housing unit, the highest of any American city over 50,000. (By contrast, New York’s is 2.8, and Los Angeles’s density is 2.6 persons per housing unit.) Many residents live in illegally converted garages or in rooms not meant for occupancy. The city has attempted to reduce the number of individuals living inside one house by passing density limitations, which resulted in a civil rights lawsuit being filed and the limits ultimately dropped.

The racial makeup of the city was 42.73% White, 1.70% African American, 1.19% Native American, 8.81% Asian, 0.34% Pacific Islander, 40.64% from other races, and 4.58% from two or more races. Hispanic or Latino of any race were 76.07% of the population. Non-Hispanic Whites make up 12.4% of the population, a small fraction of what it was a majority in 1950 and 1960.

There were 73,002 households out of which 53.2% had children under the age of 18 living with them, 60.6% were married couples living together, 13.5% had a female householder with no husband present, and 18.1% were non-families. 12.7% of all households were made up of individuals and 4.6% had someone living alone who was 65 years of age or older. The average household size was 4.55 and the average family size was 4.72.

The median income for a household in the city was $43,412, and the median income for a family was $41,050. Males had a median income of $23,342 versus $21,637 for females. The per capita income for the city was $12,152. About 16.1% of families and 19.8% of the population were below the poverty line, including 24.1% of those under age 18 and 10.4% of those age 65 or over. Santa Ana is a city divided by socio-economic class stratification after decades of immigration and economic prosperity.

The reason for Santa Ana’s appeal to a large Hispanic immigrant population since the 1970’s was its proximity to rich job markets, the cost of cheap housing until recently, the availability of multi-housing units dating back before the Orange County suburban boom, and a history of Mexican American culture is appealing to immigrants closely attached to Mexico. In 1970 (U.S. Census) the city’s Hispanic percentage was 30 percent, then increased to 53 percent in 1980 and went up to 65 percent by 1990. Santa Ana has a large presence (compared to Orange county) of African Americans. Also large numbers of Asian Americans and Middle Easterners, such as Iranians, Indian Americans and Vietnamese arrived in Santa Ana during the 1980’s.