Reverse Mortgage for Seniors
Turn your home equity into tax-free funds with no monthly mortgage payments required — while you continue living in the home you love.
How a Reverse Mortgage Helps You
No Monthly Payments
You are not required to make monthly mortgage payments for as long as you live in the home as your primary residence.
Stay in Your Home
You retain full ownership and the right to live in your home. The loan is only due when you move out, sell, or pass away.
Tax-Free Proceeds
Reverse mortgage proceeds are generally not considered taxable income. Consult a tax advisor for your specific situation.
Flexible Payout Options
Receive funds as a lump sum, monthly payments, a line of credit, or a combination — whatever works best for your needs.
FHA-Insured HECM
The Home Equity Conversion Mortgage (HECM) is FHA-insured, providing protections for both you and your heirs.
Non-Recourse Loan
You or your heirs will never owe more than the home is worth at the time of repayment — even if the loan balance exceeds the home value.
Eligibility Requirements
- Must be age 62 or older
- Home must be your primary residence
- Must have sufficient equity in the home
- Must complete a HUD-approved counseling session
- Must stay current on property taxes and homeowner's insurance
- Home must meet FHA property standards
Frequently Asked Questions
Will I still own my home with a reverse mortgage?
Yes — you retain full ownership of your home. The reverse mortgage is simply a loan secured by your home's equity. You must continue to pay property taxes, insurance, and maintain the home.
What happens when I pass away or move out?
When the last borrower permanently leaves the home, the loan becomes due. Your heirs can repay the loan and keep the home, sell the home to pay off the loan, or allow the lender to sell it. Any remaining equity goes to your estate.
How much can I borrow?
The amount depends on your age, the home's appraised value, current interest rates, and the FHA lending limit. Generally, the older you are and the more equity you have, the more you can access.
Is a reverse mortgage right for me?
A reverse mortgage can be an excellent tool for seniors who need to supplement retirement income, cover medical expenses, or simply improve their quality of life. Call us and we'll walk you through whether it makes sense for your situation.
Find Out How Much You Qualify For
Call Lori today at 909 224 8307 — we specialize in reverse mortgages for Southern California seniors.