About Tom Jarboe

Tom Jarboe, reverse mortgage loan officer with New American Funding in Diamond Bar

I'm Tom Jarboe (NMLS #210600), a Regional Sales Manager with New American Funding, LLC (NMLS #6606) in Diamond Bar.

I've been in the mortgage business since 1986, and today I focus on reverse mortgages: helping homeowners 62 and older (55 and older for some loans), and the families who look out for them, understand how these loans work and decide whether one fits.

My goal is simple. I want every family I work with to understand exactly what they're doing, be happy with it, and make an honest, educated decision that it's what they want.

How I got here

I planned to be a doctor. I was a pre-med biology student at UC Irvine when my dad, who co-owned a mortgage company called Vintage Funding, offered me a job as a loan processor. Within a year I owned part of the company, and I later ran it.

I switched my major to economics and finished at UC Irvine, then went straight to USC for a Master of Real Estate Development.

After Vintage, I worked at several mortgage companies. At one of them, I helped grow the California division to dozens of branches, across Southern and Northern California. In 2019 I completed the Harvard Business Analytics Program. I joined New American Funding in 2026.

Why reverse mortgages

I'm 60, and I relate to the people I'm helping. Homeowners in their 60s, 70s and 80s want someone who understands their situation and takes the time to explain it. People are living longer, and for many, the home is their biggest asset.

I believe older homeowners are an underserved community, and they deserve someone who takes the time to explain this loan.

Most people come to me uninformed, or worried about something they heard years ago. Even some professionals I talk with have doubts about reverse mortgages, often based on how these loans worked years ago.

So I start with the facts: what the loan costs, what you still have to pay, what happens to the house later, and when it's the wrong choice.

When I'll tell you no

A reverse mortgage isn't for everyone. The loan balance grows over time, because interest and mortgage insurance are added to it each month. There are upfront costs too, including an upfront mortgage insurance premium, an origination fee and closing costs, which are often paid from the loan.

You still pay property taxes, insurance, HOA dues and upkeep, and the home must stay your main residence, or the loan can come due. If you're not retired yet and can comfortably make a monthly payment, a regular mortgage may cost less, and I'll tell you so.

A reverse mortgage tends to fit best when you're retired or living on a limited income and want to stay in your home.

Something every family should do now

I've seen families get stuck when a parent on the title can no longer sign for themselves. Talk with an estate planning attorney now about a living trust, a durable power of attorney, and the other documents that let someone you trust sign for your parent.

Do it while everyone can still sign, whether or not a reverse mortgage is ever part of the plan. Whether a lender accepts a given trust or power of attorney depends on the loan's rules.

Teaching

Teaching is a passion of mine. For about five years I taught finance, economics and business, including mortgage loan brokering, at night at Mt. San Antonio College.

I'm an approved instructor of New American Funding's California Department of Real Estate–approved continuing-education course for real estate agents, "A Realtor's Guide to Success in the Retirement Market." The DRE added me as an instructor of it in September 2026.

I'd like to teach free classes for homeowners and families in Diamond Bar, at the library, senior center or city center. Hear about the next class, or ask me to teach at your office.

What I focus on

Set-asides (LESA). Homeowners whose credit or tax and insurance history raised a concern, and who may qualify with a Life Expectancy Set-Aside that pays property taxes and homeowners insurance from the loan. See how a set-aside works.
Refinancing into a reverse mortgage. Homeowners still paying a mortgage who want to replace it with a reverse mortgage, when the numbers work. See refinancing into a reverse mortgage.
Families. Adult children helping a parent, and heirs after a parent passes away. See the heirs' timeline.

Through New American Funding, I can offer the FHA-insured HECM, HECM for Purchase, and private (proprietary) reverse mortgages, including options for higher-value homes. I'm licensed in California.

How I work

Honest answers, both sides. If a reverse mortgage isn't right for you, I'll say so and point you to what might fit better.
Talk with me first. Ask anything, with no pressure. Before you can apply, you'll meet with an independent HUD-approved counselor. It's required, and I'll give you a list of agencies. I don't choose or pay them. Find one on HUD's site or call (800) 569-4287.
Bring your family. Adult children, a trusted friend, your attorney or financial advisor are welcome at every conversation.
As a loan officer, I want you to be able to check everything. Every guide on this site cites the official rules and gives the date they were checked.

What I hope every family remembers is that they could trust me: that I took the time to understand what they wanted, never took advantage of them, and helped them get where they wanted to go.

Outside the office

I'm a lifelong Catholic, and I served as a confirmation catechist at St. Denis Catholic Church in Diamond Bar for 12 years. I love live music, especially at the Hollywood Bowl and the Greek Theatre. I golf (I used to golf better), and I enjoy gardening and fixing up properties.

Talk with Tom

Call or email me, or set a time to meet at the Diamond Bar office.

Phone: (909) 869-6588
Email: [email protected]
Office: 20955 Pathfinder Rd, Suite 200, Diamond Bar, CA 91765
NMLS: #210600 · look me up on NMLS Consumer Access