The Lowdown on Reverse Mortgage Loans...

The Lowdown on Reverse Mortgage Loans...

Our Reverse Mortgage Rates Are Low & Our Process is Quick & Painless

We offer Reverse Mortgages in California. A reverse mortgage is a type of loan that allows older homeowners to convert a portion of their home equity into cash. This type of loan is unique because the borrower does not have to make any payments on the loan as long as they continue to live in the home. Instead, the loan is paid back when the borrower sells the home or passes away.

Reverse mortgages are typically used by older California homeowners who need additional income to support their retirement or pay for unexpected expenses. The loan can provide a steady stream of income or a lump sum payment, depending on the borrower's needs. In this article, we will explain how reverse mortgages work, including the eligibility requirements, loan terms, and repayment options.

The Reverse Mortgage Process

Here's how our home loan process works:

  • Complete our simple Reverse Mortgage Qualifier
  • Receive options based on your unique criteria and scenario
  • Compare California Reverse Mortgage interest rates and terms
  • Choose the offer that best fits your needs

Eligibility Requirements for Reverse Mortgages

To be eligible for a California reverse mortgage, the borrower must be at least 62 years old and own their home outright or have a low mortgage balance that can be paid off with the proceeds from the loan.  You must be at least 55 to obtain a proprietary (Jumbo) reverse mortgage. The home must also be the borrower's primary residence, and they must have enough equity in the home to qualify for the loan.

The amount of equity required depends on the borrower's age, the value of the home, and the current interest rates. Typically, the older the borrower, the more equity they can access. For example, a 62-year-old borrower with a home valued at $300,000 and no outstanding mortgage may be able to borrow up to $150,000, while a 75-year-old borrower may be able to borrow up to $200,000.

A condominium must be FHA approved and able to receive an FHA spot approval.  Click here to find out if your condo is eligible for a California Reverse Mortgage.

Reverse Mortgage Qualifier

Loan Terms for Reverse Mortgages

Reverse mortgages are available to Californians in several different types, including federally-insured Home Equity Conversion Mortgages (HECMs), proprietary reverse mortgages, and single-purpose reverse mortgages.

HECMs are the most common type of reverse mortgage and are insured by the Federal Housing Administration (FHA). These loans have certain requirements, such as mandatory counseling for the borrower and limits on the amount of fees that can be charged. Proprietary reverse mortgages are offered by private lenders and are not insured by FHA.

We're here to make the California reverse mortgage process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE Reverse Mortgage Qualifier

We'll help you clearly see the differences between reverse mortgage options, allowing you to choose the right one for you.

Your Home Loan Could Be
Fully Funded 30 Days From Now

  • Fixed Rates

    Fixed Rates

  • Adjustable Rates Mortgage (ARM)

    Adjustable Rates
    Mortgage (ARM)

  • Conforming Loans


  • Jumbo & Super Jumbo Loans

    Jumbo & Super
    Jumbo Loans

  • FHA, VA, & USDA Loans

    FHA, VA, & USDA

  • Terms from 5 to 30 Years

    Terms from 5 to
    30 Years

Get Your FREE Reverse Mortgage Quote Now!

Mortgage rates change every day, and your rate will vary based on your location, finances, and other factors. Get your FREE customized rate comparison below:

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