Why San Pedro Homeowners Choose Reverse Mortgages
San Pedro is part of Los Angeles County in the South Bay / Harbor Area area. With a median home value of approximately $800,000 and a senior population of over 12,000+, the city has a strong market of homeowners who may benefit from accessing their home equity.
San Pedro wears its working-waterfront history with pride, from the bluffs of Point Fermin and the historic homes of Vinegar Hill to the family blocks of South Shores and Barton Hill. Generations of longshoremen, fishermen, and their families have owned these coastal homes, and many of the older houses now carry both substantial equity and a need for upkeep. A reverse mortgage gives these seniors a way to fund repairs, supplement Social Security, or set up a line of credit so they can stay near the harbor in the homes their families have loved for years.
- San Pedro is LA's historic harbor community, with coastal charm and a strong sense of identity
- Many San Pedro families have owned their homes for generations and hold significant equity
- A reverse mortgage helps San Pedro seniors stay near the water in the homes they love
