Contact VITEK

Contact us for any questions you might have! We are here for you!

* Required Field


I would like to:

Speak with a mortgage loan originator

Schedule a consultation

Mailing Address

VITEK Mortgage Group
Corporate Office

3 Parkcenter Drive
2nd Floor
Sacramento, Ca 95825
Toll Free: (800) 570-5300

Language of your Mortgage Loan Originator:

Customer Login - Coming soon!

You will be able to log in for up-to-the-minute updates on your loan in process and easily submit needed documentation to us to help ensure a faster transaction for you. This new state-of- the-art communication system will also support our efforts toward complete paperless transactions and helps us further our Think Green initiatives!

Children Caregivers

Children Caregivers

Focusing on the needs of your loved ones today will help them have a better future.

Naturally, seniors want to remain in their own homes and financially independent for as long as possible. They often rely on the advice and counsel of their children or caregivers to maintain these goals. By focusing on the needs of your loved ones today you will help them have a better future. If you are the son, daughter or caregiver of a senior who is age 62 or older, it is important for you to understand the facts about reverse mortgages in order to protect your loved ones and to make the very best decisions possible on their behalf.

The information in this website is not from HUD or FHA and was not approved by HUD or a government agency.

How can a reverse mortgage benefit my loved ones?

Statistics tell us that seniors want to stay in their homes for as long as possible. A reverse mortgage can help your loved ones afford to do just that - by eliminating their monthly mortgage payment. A reverse mortgage may also provide a monthly cash flow, a lump sum payment or an equity line of credit.

Back To Top

How do I know if a reverse mortgage is right for my loved ones?

Ask these key questions:

  • Are they financially able to do everything they need to do and live comfortably?
  • What are their needs and wants?
  • What is their financial situation?
  • What is their monthly income, and is it enough?
  • Does their home need repairs or senior-safe and accessible retro-fitting?
  • Can they comfortably afford their medical bills and prescriptions?
  • Will they need in-home care in the future? If so, how will they pay for it?

It is important to plan for the future by having an honest discussion with your loved ones about their ongoing financial needs and lifestyle expectations. Uncovering their financial needs is the first step in determining whether a reverse mortgage is the right option.

Back To Top

What are the benefits of a reverse mortgage?

Peace of mind - Reverse mortgages are protected and insured by the government, and contain many safeguards to shield seniors from predatory lending practices. More than 400,000 Americans have benefited from reverse mortgages.

Continue to hold title - Seniors who qualify for a reverse mortgage remain on title and in control of their home. There is no pre-payment penalty and the title to the home is never in jeopardy as long as they continue to live in the home and maintain it.

Remain in the community - With a reverse mortgage, your parents or loved ones do not have to move out of their home because they can no longer afford to live there.

Remain financially independent - It may be difficult for some seniors to face their retirement years on a fixed income and often difficult for them to ask for help. The reverse mortgage allows your loved ones to tap into the equity in their home and maintain their financial independence.

Repay at anytime - Your parents or loved ones can repay the loan in-part or in-full at anytime without a prepayment penalty.

Purchase a new home - In some cases, your parents or loved ones may want to downsize, upsize, or simply relocate to be closer to family or friends. By taking advantage of the "reverse mortgage for purchase" program they can move and still eliminate their monthly mortgage payment.

Back To Top

Are there safeguards to protect seniors?

It is mandated that interested seniors receive third-party counseling from a HUD-approved counselor before an application can be processed.

Back To Top

What happens to the remaining equity in the home?

All remaining equity goes to the heirs of the estate.

Back To Top

What happens if both borrowers pass away?

The heirs of the estate have the option to keep the home, in which case they would need to seek their own financing and pay off the loan in full. More commonly, the heirs sell the home and realize the remaining equity from the proceeds of the sale.

Back To Top

I have heard the lender takes an equity share and holds title?

In the 1970’s and early 80’s when insurance companies mainly originated reverse mortgages they did take an equity position. This is not so today! Reverse mortgages are offered by approved lenders only, and are federally insured. The homeowner(s) remain the sole holder of title and in complete control.

Back To Top

My parent's home is in a living trust. Can it remain in a trust?

Yes, as long as it meets HUD requirements. Some trusts need to be amended, especially if a trustee or beneficiary has passed away. If you would like to confirm it is acceptable for a reverse mortgage you can click here to contact us and we can review it for you FREE of charge.

Back To Top

What if I have a Power of Attorney (PoA)?

Reverse mortgage regulations permit you to exercise a Power of Attorney on behalf of your parent(s). It is required that you receive HUD counseling along with your loved ones if you plan to act in a Power of Attorney capacity. Your reverse mortgage lender will need a complete copy of the PoA document in order to approve it. If you would like to confirm that your PoA document is acceptable for a reverse mortgage, click here to contact us and we will review it for you FREE of charge.

Back To Top
Interested in VITEK's Reverse Mortgage Programs?
Click here to request information!