Reverse Mortgages Near You - Desert Hot Springs 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 Desert Hot Springs, California.
Todd Walcott and Contempo Lending are the professionals you should talk with in Desert Hot Springs 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 Desert Hot Springs have increased by 2% over the last 12 months to a value of $383,941 as of December 2024 (https://www.zillow.com/home-values/51701/desert-hot-springs-ca/).
All that additional equity has encouraged 1300 Desert Hot Springs residents to buy a reverse mortgage with 86 of them doing so in the last 12 months.
About Desert Hot Springs, California
Desert Hot Springs, California, is a hidden gem nestled in the foothills of the Coachella Valley, just north of Palm Springs. Known for its world-famous natural hot and cold mineral springs, this serene city has earned a reputation as a destination for relaxation, wellness, and natural beauty. With stunning views of the San Bernardino and San Jacinto Mountains, Desert Hot Springs offers a unique blend of tranquility and rejuvenation.
The city’s mineral water is among the best in the world, attracting visitors from far and wide to its luxurious spas and resorts. The healing properties of these mineral-rich waters have made Desert Hot Springs a haven for those seeking a peaceful escape. One of the city’s most iconic landmarks is Cabot’s Pueblo Museum, a Hopi-inspired structure built by hand in the early 1900s. This fascinating museum offers a glimpse into the history and creativity of the area, making it a must-visit for history enthusiasts.
Nature lovers are also drawn to Desert Hot Springs for its breathtaking scenery and outdoor opportunities. Just a short drive away is the iconic Joshua Tree National Park, where visitors can explore hiking trails, rock formations, and sweeping desert vistas. The city itself offers plenty of opportunities to enjoy the outdoors, from quiet parks to stargazing in the clear desert skies.
Desert Hot Springs is more than just a getaway destination—it’s a growing community with a welcoming, small-town vibe. With its affordable housing options, proximity to larger Coachella Valley cities, and strong emphasis on wellness, Desert Hot Springs is an appealing place for families, retirees, and professionals looking for a peaceful yet connected lifestyle. The city is also home to vibrant annual events, including cultural festivals and art exhibits, which bring the community together and celebrate its rich heritage.
As a reverse mortgage loan officer serving Desert Hot Springs, I understand the unique needs of this community. Whether you’re looking to access your home’s equity or plan for a more comfortable retirement, I’m here to provide guidance and support. With its natural beauty, relaxing atmosphere, and warm community spirit, Desert Hot Springs is a wonderful place to call home, and I’m honored to help its residents achieve their financial goals.
Contact your Desert Hot Springs 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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