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What Sun West Offers |
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| At Sun West, we believe it's about a better quality of life and a high standard of living for our seniors. |
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| Go Back - Home > Reverse Mortgage > What Sun West Offers |
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| Reverse Mortgage Calculator | What is a Reverse Mortgage? | What Sun West Offers | I Have Questions |
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| Broker & Correspondent Pages | Check Rates | Apply Now | Send Me Information |
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Our reverse products include the following:
Home Equity Conversion Mortgage: One of the most popular reverse mortgages and highly regulated as part of the U.S. Department of Housing and Urban Development; the Home Equity Conversion Mortgage (HECM) is a federally-insured private loan providing for greater financial security and a sound plan for seniors. HECM is available to those with single family homes, 1-4 unit homes as long as the borrower occupies one of the units, manufactured homes built after 1976, condominiums, PUD's, and townhomes.
Home Keeper: Fannie Mae, a private company operating under a Congressional Charter, allows seniors to borrow against the value of his/her home and receive loan proceeds according to the payment plan he/she selects. The FNMA HomeKeeper provides the maximum amount of flexibility to address the unmet financial needs of seniors today. The HomeKeeper program is available to every senior 62 and over throughout the United States who lives in an owner occupied single-family home, condominium, qualified planned unit development, property held in trust, or qualified leasehold. |
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| Advantages / Benefits: |
- No income restriction: HECM does not care if you have income or not. It cares about your age and the value of your property.
- Free you from existing loans: Your existing loans will, actually, must, be paid off by proceeds from the HECM loan.
- No more monthly payments: The loan is not due as long as you live in the property, so you do not have to remit any monthly payment.
- Tax-free monthly cash flow: You may choose to receive tax-free monthly payment for your entire life.
- A line of credit with growth: You may also choose to have a line of credit that grows every month.
- Use the proceeds for any purpose: The loan proceeds can be used to pay of credit card bills, medical insurance, or anything you can think of.
- No prepayment penalty: You may terminate the loan anytime you like by paying off the loan balance without any penalty.
- Limit on the amount you owe: You will never owe the lender more than the appraised value of your property since the program is FHA-insured.
- Closing costs may be financed: Almost all of the closing costs can be financed as part of the loan, which means no out-of-pocket expense for you.
- Social Security & Medicare unaffected: The loan will not affect your existing Social Security and Medicare benefits.
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Consumer Home Loan Mortgages |
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SWMC offers a wide range of residential home loan mortgage programs to suit different situations such as a purchase, refinance, a property rehabilitation loan or a reverse mortgage at the competitive interest rates.
FHA Purchase at 96.5% Financing, Streamline (Interest Rate Reduction) Refinance, and Cash-Out Refinance, 203(k) Rehabilitation Loan, 203(k) Streamlined Rehabilitation Loan, and the Home Equity Conversion Mortgage (Reverse Mortgage) and USDA Rural Housing mortgages.
If you are a Veteran, Sun West offers you VA guaranteed mortgages for Purchase Loans at 100% Financing, Cash-Out Refinance, and Streamline Interest Rate Reduction Refinance Loans (IRRRL).
You can use our simple mortgage calculator tools to find out your monthly payment, the house you can afford, your refinance options, or the home equity you may be able to access through a reverse mortgage (HECM).
As a full-service mortgage bank, Sun West is one of the few approved direct lenders to provide in-house origination, processing, underwriting, closing, funding, and servicing. Based in California with active presence across the country, Sun West is dedicated to offering exceptional service coupled with integrity, reliability, and experience. |
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| Read More About Consumer Home Loan Mortgages >> |
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Loan Calculators |
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- FHA Purchase Calculator
Calculates the monthly mortgage payment for your home purchase loan, as per prevailing interest rates.
- Reverse Mortgage Calculator
Calculates and compares the available options for HECM products.
- Monthly Payment
Calculates your payment for different loan amounts, interest rates, and amortization terms.
- How Much Can I Afford?
Calculates your maximum mortgage loan amount based upon the monthly home loan payment, interest rate, and term that you enter.
- Should I refinance?
Just enter information about your current mortgage loan and the new loan you're thinking of taking, and we'll calculate your savings.
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Partner Resources |
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Press Releases |
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- 05/15/2012: Sun West Mortgage Company Partners with EGIA to Introduce the FHA PowerSaver Loan Program Read More..
- 12/16/2011: Sun West Mortgage Company and the Cerritos Sheriff Station team up to supply little boys and girls toys this holiday Read More..
- 10/03/2011: Sun West Mortgage Increases Its Reach in New Jersey Read More..
- 4/22/2011: Variable Servicing Margins on Different Participations of the Same Loan for HMBS Issuers Announced by Sun West Mortgage Read More..
- 2/16/2011: Sun West Mortgage Company Crosses $6 Billion Mark in Ginnie Mae HECM Mortgage Backed Securities Read More..
- 10/26/2010: Capital Markets Cooperative and Sun West Mortgage Company Creates New Strategic Alliance Read More..
- 7/14/2010: Sun West Mortgage Issues Green Building Guidelines For Multifamily Projects Nationwide Read More..
- 3/18/2010: Pentagon Federal Credit Union and Sun West Mortgage Announce First in the Nation Approach to Reverse Mortgage Initiative Read More..
- 1/28/2010: Ginnie Mae Hope for Homeowners Securities Issued by Sun West Mortgage Read More..
- 1/28/2010: Sun West Crosses $2 Billion Mark in Ginnie Mae HECM Mortgage Backed Securities Read More..
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| View All Press Releases >> |
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Lender Alerts |
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- 05/16/2012: Introducing SWMC Express: Reduced Overlays and Faster Reviews! Read More..
- 04/18/2012: Reduced FHA Streamline Overlays Read More..
- 04/17/2012: Same Day Underwriting For Fha Streamlines. Submit Your Streamlines Now. All Other Products: 48 Hours Or Less Read More..
- 04/11/2012: Webinar Invitation Streamline Loan Delivery and Purchase with Sun West Read More..
- 04/04/2012: SWMC Service Alert Read More..
- 04/04/2012: SWMC Early Lock Desk Closure Notification Read More..
- 03/22/2012: Additional Reduced Overlays for FHA Streamlines Read More..
- 03/15/2012: SWMC Presents "FHA 203k" Read More..
- 02/22/2012: Sun West Announces Relaxed Guidelines for FHA Streamline Refinances Read More..
- 02/07/2012: SWMC Product Guidelines - FHA Jumbo Update Read More..
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| View All Lender Alerts >> |
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| Careers | Contact Us | Links | Site Map | Terms | Privacy Policy |
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Notice to prospective vendors, service providers, brokers, dealers, trading counter-parties, and corporate partners:
The only persons authorized to enter into contracts on behalf of Sun West Mortgage Company, Inc. are the company's President and Chief Executive Officer.
You may call our corporate office at +1 (800) 453-7884 or e-mail contracts@swmc.com to verify the execution of any contract.
You may visit www.nmlsconsumeraccess.org to verify Sun West's State Licenses. |
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Sun West Mortgage Company, Inc. (NMLS ID 3277) by the Department of Corporations as a California Finance Lender (License #6030119) with a Branch Office in Corona, CA (NMLS ID 363427) [(866) ASK-CORP] and is licensed by the Department of Real Estate (License #00793885) [(877) 373-4542]; is a licensed Mortgage Lender in Georgia (License# 22591) [(770) 986-1633]; the Connecticut Department of Banking (Registered in Connecticut as Sun West Mortgage Company, Inc. dba Cal State Funding, Mortgage lender (License# 19683) [(860) 240-8275]; is a licensed Mortgage Lender and Servicer in Puerto Rico (License# IH-138) with a branch license in Guaynabo, Puerto Rico (NMLS ID 516931) [(787) 723-8403]; a registered Texas Mortgage Banker (NMLS ID#359295) [(877) 276-5550]; is exempt from licensing as a Wholesale Lender in Nevada [(775) 684-7060]; and licensed as a Residential Mortgage Lender in Wyoming (License# MBL-1902) [(307) 777-6483]; is licensed as a Mortgage Loan Company by the Department of Financial Institutions in Kentucky (License# MC71444) [(800) 223-2579 ]; is licensed by the New Hampshire Banking Department as a Mortgage Banker (License # 13604-MB) [(603) 271-8675]; is a registered third party servicer in Massachusetts (Registration# LS3277) [(617) 956-1500]; licensed by the Arizona Department of Financial Institutions registered in Arizona as Sun West Mortgage USA Company, Inc. DBA Cal State Funding and licensed as a Mortgage Banker (License# 0909624), a branch in Chandler, AZ (NMLS ID 167400) and Scottsdale, AZ (NMLS ID 359295) [(602) 771-2800]; is a licensed lender in Utah (License# 7477238) with a branch license in South Jordan, Utah (NMLS ID 776241) [(801) 530-6297]; registered in Ohio under the Mortgage Broker Act Mortgage Banker Exemption (MBMB.850093.000) with a branch (NMLS ID 447576) in Westerville, Ohio (License# MBMB.850093.001). [(614) 728-8400]; Sun West Mortgage Company, Inc. (NMLS ID 3277) has a Consumer Credit License in Alabama (License# 21015) [(334) 242-3452]; is a licensed Residential Mortgage Originator in Minnesota (License# MN-MO-40020564) [(651) 296-6657]; is a licensed Mortgage Banker in Pennsylvania (License# 21829) [(717) 787-7334]; is licensed in Oklahoma as a Mortgage Broker (License# MB001619) [(405) 521-3653]; licensed Broker by the Virginia State Corporation Commission as (License# MC-4999) [(804) 371-0484]; a South Dakota Licensed Mortgage Lender (License# ML.04740) [(605) 773-3421]; by the Colorado Department of Law Uniform Consumer Credit Code, holding a Supervised Lender’s License (989559) and a Mortgage Company Registration [(303) 866-4527]; is a First Lien Mortgage Lending licensee with Indiana Department of Financial Institutions (License# 11272) [(317) 232-3955]; has a Consumer Loan License in Washington (CL-3277) [(360) 902-8703]; is licensed as a Mortgage Lender in Montana (License# 3277) [(406) 841-2928]; is a licensed lender in Vermont (License# 6060) and a licensed Loan Servicer (License# 3277-1) [(802) 828-3307]; is licensed in Idaho as a Mortgage Broker and Lender (License# MBL-6742) [(208) 332-8002]; an Oregon Mortgage Lender Licensee (License# ML-4599) [(503) 378-4140]; is a licensed Mortgage Lender and Servicer in South Carolina (License# MLS-3277) [(803) 734-2020]; is a licensed Mortgage Banker in Iowa (License# 2007-0093) [(515) 281-4014]; is licensed as a Mortgage Banker and Mortgage Servicer by the Arkansas Securities Commissioner (License# 40431) [(501) 324-9265]; is a licensed lender in New Jersey (License# 9400980) with a branch office in Denville, NJ (NMLS ID 454915) by the New Jersey Department of Banking [(609) 292-7272]; is a North Dakota licensed Money Broker (License# MB101661) [(701) 328-9932]; has a Mortgage Company License (License# MC.0025065) in Kansas [(785) 296-2266]; is a Residential Mortgage Loan Broker licensee in Missouri (License# 11-1881-S) [(573) 751-4243]; is a licensed lender in Delaware (State Bank Commissioner License# 9970) [(302) 739-4235]; and is licensed as a Mortgage Banker in Wisconsin (License# 212942BA) [(608) 261-7578]; registered by the Tennessee Department of Financial Institutions under the Residential Lending, Brokerage and Servicing Act (License# 3552) [(615) 253-6714]; is licensed as a Supervised Lender in Maine (License # SLM9710) [(207) 624-8539]; is a licensed Mortgage Lender in the District of Columbia (MLB3277) [(202) 442-7821]; is registered as a First Mortgage Broker, Lender and Servicer in Michigan for first (License# FR0016085) [(877) 999-6442]; is a licensed mortgage lender in Maryland (License# 17740) [(410) 230-6155]; is a licensed Mortgage Banker in Nebraska as dba Cal State Funding, Inc. (License# 1908) [(402) 471-2171]; is licensed as an Illinois Residential Mortgage Licensee by the Office of Banks and Real Estate, Mortgage Banking Division, (License# MB.6760356) [(312) 793-1955]; a mortgage lender in West Virginia (License# ML-23946) [(304) 558-2294]; is licensed as a Residential Mortgage Lender in Louisiana (License# 2713) [(225) 925-4660]; registered in New Mexico under the Mortgage Loan Company and Loan Broker Act (License# 03201) doing business as Sun West Mortgage USA, Inc. [(505) 476-4908]; Licensed by the Mississippi Department of Banking and Consumer Finance (License# 603/2008) [(800) 844-2499]; is licensed in New York as a Mortgage Banker-NYS Banking Department (License# B500897) [(212) 709-3847]; is licensed in Alaska as a Mortgage Broker and Lender (License# AK3277) [(907) 269-4594]; is licensed by the Hawaii Department of Financial Institutions as a Mortgage Loan Originator Company (HI-3277) having a Branch Office (Mortgage Loan Originator Company Branch License HI-719250) in Kapaa, HI (NMLS 719250) [(808) 586-2820]; is licensed by Florida’s Office of Financial Regulation with a Mortgage Lender License (License# MLD266) [(850) 410-9895]; In all states, the principal licensed office of Sun West Mortgage Company, Inc. (NMLS ID 3277) is 18303 Gridley Road in Cerritos, CA 90703; (800) 453-7884. |
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