The California Reverse Mortgage Company is headquartered in San Rafael, California and is licensed by the California Department of Real Estate (CADRE) #02081591 and the National Mortgage Licensing System (NMLS) #1977922. 

My name is Jim Zimmerman, the President and Broker of the California Reverse Mortgage Company. My personal CADRE # is: 00280123 and NMLS # is: 288153. 

The California Reverse Mortgage Company is licensed to originate reverse mortgage loans only in the State of California. The services referred to herein are not available to persons located outside the state of California.

The material at this website is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA).

Reverse mortgage loan terms include occupying the home as your primary residence, maintaining the home, paying property taxes and homeowners insurance. Although these costs may be substantial, The reverse mortgage lender does not establish an escrow account for these payments. However, a set-aside account can be set up for taxes and insurance, and in some cases may be required. Not all interest on a reverse mortgage is tax-deductible and to the extent that it is, such deduction is not available until the loan is partially or fully repaid.

The California Reverse Mortgage Company and/or the reverse mortgage lender charges an origination fee. The reverse mortgage lender may charge mortgage insurance premium where required by HUD/FHA, closing costs and servicing fees, rolled into the balance of the loan. The reverse mortgage lender charges interest on the balance, which grows over time. When the last borrower or eligible non-borrowing spouse dies, sells the home, permanently moves out, or fails to comply with the loan terms, the loan becomes due and payable (and the property may become subject to foreclosure). When this happens, some or all of the equity in the property no longer belongs to the borrowers, who may need to sell the home or otherwise repay the loan balance.

A reverse mortgage quotation is not a loan approval, rate lock, guarantee or commitment to lend. An underwriter must review and approve a complete loan application in order to obtain financing. Loan approval is subject to age, minimum income guidelines, credit history, and property qualifications. Program rates, fees, terms and conditions are subject to change with market conditions. Specified rates may not be available for all borrowers.

The material at this website is not intended to be a substitute for legal, tax or financial advice. Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice.

20561