Reverse Mortgages Near You - Rancho Mirage 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 Rancho Mirage, California.
Todd Walcott and Contempo Lending are the professionals you should talk with in Rancho Mirage if you are keen to explore the possibilities a reverse mortgage can offer you.
Whether you’re in Palm Desert, Palm Springs, 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 Rancho Mirage have slightly decreased by 0.5% over the last 12 months to a value of $849,356 as of December 2024 (https://www.zillow.com/home-values/40493/rancho-mirage-ca/).
Overall, 2,561 Rancho Mirage residents have used a reverse mortgage with 136 of them doing so in the last 12 months.
About Rancho Mirage, California
Rancho Mirage, California, is an oasis of luxury and tranquility located in the heart of the Coachella Valley. Known for its world-class resorts, pristine golf courses, and upscale amenities, Rancho Mirage offers an unparalleled lifestyle for residents and visitors alike. Nestled between Cathedral City and Palm Desert, this city is often referred to as the “Playground of Presidents,” thanks to its long history as a favored destination for U.S. leaders and celebrities seeking relaxation in the desert.
One of Rancho Mirage’s most iconic landmarks is Sunnylands, the historic estate of Walter and Leonore Annenberg. Often called the “Camp David of the West,” Sunnylands has hosted countless dignitaries and world leaders for high-profile meetings and retreats. Today, it serves as a public museum and gardens, offering a glimpse into the area’s rich history and a peaceful place to explore the beauty of the desert landscape.
For those who enjoy the outdoors, Rancho Mirage is a paradise of recreational opportunities. The city is home to some of the Coachella Valley’s most prestigious golf courses, including those at Mission Hills Country Club and The Westin Mission Hills Golf Resort & Spa. Additionally, the surrounding mountains provide stunning hiking trails, with panoramic views of the valley below. Rancho Mirage also boasts the Agua Caliente Casino, a premier destination for gaming, dining, and entertainment.
Rancho Mirage is a haven for luxury living, offering an array of upscale neighborhoods, fine dining options, and boutique shopping experiences. Despite its reputation for sophistication, the city maintains a welcoming and tight-knit community atmosphere. With excellent healthcare facilities, such as the renowned Eisenhower Medical Center, and proximity to top-notch schools, Rancho Mirage is an attractive destination for retirees, families, and professionals seeking a high quality of life.
As a reverse mortgage loan officer serving Rancho Mirage, I’m dedicated to helping homeowners in this prestigious community explore financial options that fit their needs. Whether you’re looking to enhance your retirement lifestyle or unlock the equity in your home, I’m here to guide you every step of the way. With its breathtaking scenery, luxurious amenities, and vibrant community, Rancho Mirage is truly a place of endless opportunity and comfort.
Contact your Rancho Mirage 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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