Reverse Mortgages Near You - Coachella Reverse Mortgage Lender
Meet Todd Walcott
Todd Walcott
Senior Loan Officer, CRMP, CMPS
NMLS #183784 | CA DRE #02227563
(760) 784-7860
Get the best reverse mortgage deals in Coachella, California.
Todd Walcott and Contempo Lending are the professionals you should talk with in Coachella if you are keen to explore the possibilities a reverse mortgage can offer you.
Whether you’re in Palm Desert, Rancho Mirage, Indian Wells or anywhere in the Coachella Valley region of Riverside County, Todd’s your man.
Todd has been working in the mortgage industry since starting as a summer temp in 1985.
He openly admits he has no other skills because “this is the profession I enjoy”.
Todd has worked for mortgage brokers, national banks, national independent mortgage bankers – he even ran his own mortgage broker business in Oregon for a decade before relocating to Palm Springs.
He said the job is his passion because mortgage brokers are not limited to the offerings of specific banks or institutions.
“We act as fiduciaries for our clients, something not required of big-box lenders,” Todd said.
“Over the years, I’ve learned that my job is a lot about educating the client about the process, identifying everything that could possibly go wrong and creating a contingency plan ‘just in case’.
“There shouldn’t be any surprises with mortgages. If there is an area of concern with the loan, I’ll be upfront and tell you the plan to work through it.”
Todd is a Certified Reverse Mortgage Planner (CRMP) meaning he is held to a higher ethical standard and has passed a rigid set of guidelines and exams as well as a detailed background check every three years.
That makes Todd someone you can trust!
He is even qualified to teach continuing education classes to CPAs, financial planners and realtors throughout California.
“Reverse mortgages seem like a complicated product but they come with fewer risks and a lot of flexibility and benefits most people don’t appreciate,” he said.
"I look beyond just the current 30-year fixed rate to examine how your mortgage debt aligns with your overall financial goals.
“A 15-year loan sounds great until you remember your children will attend college in the next few years.
“Owning your home free and clear in retirement sounds like a solid plan but drawing down retirement accounts in a stock market downturn or relying solely on Social Security benefits could impact your future financial security.
“Those pains could be mitigated by using the draw features or monthly tenure payments of a reverse mortgage.”
What is a reverse mortgage?
A reverse mortgage is one of the financial system’s most powerful yet largely untapped products.
Why? Because not enough people understand how it can help them.
It is specifically tailored for retirees who are at least 62 years of age and have equity in their homes but are finding daily living expenses are rapidly dwindling their nest eggs.
A reverse mortgage allows them to convert that equity into retirement cash flow so they can live in the home they love for the rest of their life.
Say goodbye to sleepless nights worrying about having to downsize or move into a retirement home against your wishes.
There are a number of different ways that homeowners can access their equity including a lump sum, monthly instalments or a line of credit - even a mix of all three.
One of the best features of this loan is that as long as the terms are met, there is no need to repay it until either the homeowner either sells the residence or the last surviving borrower passes away.
Housing prices in Coachella have increased by 4.6% over the last 12 months to a value of $431,544 as of December 2024 (https://www.zillow.com/home-values/50616/coachella-ca/).
Overall, 1,426 Coachella residents have used a reverse mortgage with 78 of them doing so in the last 12 months.
About Coachella, California
Coachella, California, is a vibrant city steeped in cultural heritage and known for its warm community and thriving agricultural roots. Located in the eastern part of the Coachella Valley, this charming city is surrounded by stunning desert landscapes and framed by the majestic Santa Rosa and Chocolate Mountains. Coachella offers a unique blend of small-town charm, rich traditions, and forward-thinking development that continues to attract families and businesses alike.
Historically, Coachella has been an agricultural powerhouse, known for its fertile land and vast date palm groves. Today, the city celebrates its heritage with events like the annual Coachella Valley History Museum exhibits and festivals that honor its deep connection to farming. Beyond its agricultural significance, Coachella is home to a vibrant arts scene, with colorful murals adorning buildings across the city, reflecting its cultural diversity and community pride.
The city of Coachella is perhaps most famous for lending its name to the world-renowned Coachella Valley Music and Arts Festival. While the festival takes place in neighboring Indio, its name has put Coachella on the global map as a symbol of creativity, music, and art. Outside the festival season, residents and visitors can enjoy local parks, trails, and recreational activities that embrace the natural beauty of the desert environment.
Coachella’s strong sense of community is evident in its family-friendly neighborhoods, affordable housing, and welcoming atmosphere. The city continues to grow and evolve, with ongoing investment in infrastructure, education, and economic development, all while preserving its unique heritage and cultural identity. Its central location in the valley provides convenient access to nearby cities, shopping, and entertainment while maintaining its peaceful and close-knit vibe.
As a reverse mortgage loan officer serving Coachella, I understand the unique needs of homeowners in this dynamic and culturally rich city. Whether you’re looking to unlock the equity in your home or enhance your retirement lifestyle, I’m here to provide tailored solutions and personalized guidance. Coachella’s deep roots, artistic spirit, and community warmth make it a truly special place to live and thrive.
Contact your Coachella reverse mortgage lender today.
Todd and his Contempo Lending team are standing by to offer anyone guidance about the value of a reverse mortgage.
As a mortgage professional with more than 30 years of experience, my passion is to find financing solutions for all my clients whether you’re a first-time home buyer, wanting to trade up, entering retirement or even if your loan was declined by someone else,” Todd said.
I solve problems so you can realize your dreams.
Give me a call today on (760) 808-4500.
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