For eligible California homeowners age 55 and older, certain reverse mortgage programs may offer a way to access home equity while continuing to live in your home. Explore your options and understand the costs, responsibilities, and long-term considerations with guidance tailored to your goals.
Tell us a little about your situation and we'll help you understand what options may be available.
Some proprietary reverse mortgage programs may allow eligible borrowers as young as 55. FHA-insured Home Equity Conversion Mortgages (HECMs) generally require borrowers to be at least 62.
Yes. You retain title, subject to the mortgage lien and loan terms. You must continue to meet property tax, homeowners insurance, maintenance, and occupancy obligations.
Repayment is generally required after a maturity event, such as when the last eligible borrower permanently leaves the home, sells it, or dies, or if loan obligations are not met. Specific terms vary.
Yes. Interest and applicable fees generally accrue on the loan balance, which can grow over time and reduce remaining equity.
Reverse mortgages are loans and are not free money. Borrowers remain responsible for property taxes, homeowners insurance, property maintenance, and other loan obligations. Failure to meet these obligations may result in default or foreclosure. Loan balances generally increase over time as interest and fees accrue. Program availability and age eligibility vary; FHA-insured HECMs generally require age 62+, while some proprietary programs may permit age 55+. All loans subject to eligibility, underwriting, and program guidelines. Not a commitment to lend. Equal Housing Lender. NMLS #952076.