With an eye toward national expansion, Salt Lake City, Utah-based Primary Residential Mortgage, Inc. (PRMI) has opened its first consumer-direct retail branch focused solely on reverse mortgages.

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Average Monthly Mortgage Payment in California for 2017. According to the real estate information company Zillow, the median home price for the state of California rose to $479,600 at the end of 2016. That’s a 6.9% increase over the same time a year earlier, which means average mortgage payments will be higher as well. Crisis in reverse.