California leads the nation in reverse mortgage volume, with over 6 million homeowners aged 62+ eligible to tap into the state’s high property values. Choosing the right lender is crucial, it can mean thousands in savings and a smoother experience. California Reverse Mortgage, led by CEO Adam Kelley (DRE #01905780, NMLS #2125432), helps you navigate lender options and connects you with the best fit for your unique situation.
With 10+ years serving California, we’ve helped 2,000+ families unlock $300M+ in home equity, maintaining 99% client satisfaction. We serve all 58 California counties from our Escondido headquarters.
How California Reverse Mortgage Helps You Choose
We’re not just a lender, we’re your advocate. Our role as your agent includes:
- Lender Comparison: Work with multiple top-rated lenders to find the best rates
- Expert Guidance: Navigate complex products with plain-language explanations
- Local Knowledge: Deep understanding of California’s regional markets
- Personalized Matching: Connect you with lenders based on your property value and goals
- Complete Transparency: No hidden fees, no pressure, just honest recommendations
Top California Reverse Mortgage Lenders We Work With
1. Finance of America Reverse (FAR)
After acquiring American Advisors Group (AAG), Finance of America became one of California’s largest reverse mortgage providers.
Products: HECM (up to $1,249,125), HomeSafe Jumbo (up to $4M), HECM for Purchase, Refinancing
Pros:
- No origination fee on select products
- Age 55+ eligible for HomeSafe proprietary loans
- Strong in Bay Area, LA, Orange County luxury markets
- Competitive rates for high-value properties
Cons:
- HomeSafe not available in all California counties
- Higher rates on some proprietary products
- Less personalized service due to volume
Best For: California homeowners with properties above $1.2M in San Francisco, Los Angeles, San Diego, and Orange County markets.
2. Longbridge Financial
Top 5 national lenders known for technology and military-friendly programs.
Products: FHA HECM, Platinum Jumbo, HECM for Purchase, Line of credit options
Pros:
- A+ Better Business Bureau rating
- $500 military discount for veterans and active duty
- Mobile app for digital account management
- Fast processing (30-40 days average)
Cons:
- No physical California branches
- Strict 50% equity requirement
- Limited refinancing options
Best For: Tech-savvy California seniors, military families, homeowners preferring digital-first experiences.
3. Mutual of Omaha Mortgag
#1 reverse mortgage lender in the U.S. by volume (2024) with strong California presence.
Products: Standard HECM, HomeSafe proprietary, Reverse mortgage refinancing, HECM for Purchase
Pros:
- Largest market share means proven track record
- Reverse mortgage refinancing specialists
- No mortgage insurance on HomeSafe loans
- Multiple California branch locations
Cons:
- Not available in all California regions
- 62+ age requirement only (no younger options)
- Higher servicing fees on some products
Best For: Borrowers seeking refinancing, those with existing reverse mortgages, homeowners prioritizing lender stability.
4. Guild Mortgage
High customer satisfaction ratings (J.D. Power 2025) with strong California reputation.
Products: HECM loans, Jumbo reverse mortgages, Reverse mortgage refinancing
Pros:
- A+ BBB rating and excellent reviews
- Dedicated California specialists
- Transparent fee structure
- Strong customer service
Cons:
- Limited jumbo product options
- Slower processing (45-60 days)
- Higher origination fees in some cases
Best For: California homeowners prioritizing customer service and reputation.
5. Fairway Independent Mortgage
Known for fast closings across California.
Products: HECM loans, HECM for Purchase
Pros:
- Fast closing times (17-25 days)
- Streamlined application process
- Experienced California loan officers
- Strong communication
Cons:
- Limited product variety (no jumbo)
- Higher interest rates on expedited closings
- Less competitive for high-value properties
Best For: Seniors needing quick access to funds or facing time-sensitive situations.
Lender Comparison at a Glance
| Feature | Finance of America | Longbridge | Mutual of Omaha | Guild | Fairway |
| Jumbo Options | ✓ | ✓ | ✓ | Limited | ✗ |
| Age Minimum | 55+ | 62+ | 62+ | 62+ | 62+ |
| Military Discount | ✗ | ✓ | ✗ | ✗ | ✗ |
| BBB Rating | A | A+ | A+ | A+ | A |
| Avg. Closing | 35-45 days | 30-40 days | 40-50 days | 45-60 days | 17-25 days |
California Reverse Mortgage helps you choose: We analyze your situation and match you with the lender offering the best rates, terms, and timeline.
Understanding California Reverse Mortgage Types
HECM (Home Equity Conversion Mortgage)
FHA-insured reverse mortgage for properties up to $1,249,125 (2025 limit).
California Requirements:
- Age 62 or older
- Primary residence
- Minimum 50% home equity
- Mandatory HUD counseling
- Current on property taxes and insurance
Eligible Properties: Single-family homes, 2-4 units (owner-occupied), FHA-approved condos, HUD-compliant manufactured homes
California Advantage: With median home values at $793,200, most California homeowners qualify for substantial funds.
Jumbo/Proprietary Reverse Mortgages
Private loans for California’s high-value properties exceeding HECM limits.
Features:
- Loan amounts: $1.2M – $4M+
- Age 55+ (varies by lender)
- No FHA mortgage insurance
- Lower loan-to-value ratios
Best California Markets: San Francisco Bay Area, Los Angeles/Beverly Hills, Orange County/Newport Beach, San Diego/La Jolla, Santa Barbara/Montecito
HECM for Purchase
Buy a new California home using reverse mortgage funds, no monthly payments.
How It Works:
- Down payment: 50-60% of purchase price
- Reverse mortgage finances remainder
- Perfect for downsizing or relocation
Popular California Moves: Bay Area → Sacramento, LA → Inland Empire, San Diego → Temecula Valley
California Reverse Mortgage Costs
Origination Fee
Formula: Greater of $2,500 OR (2% of first $200K + 1% over $200K), capped at $6,000
Mortgage Insurance Premium (MIP)
- Upfront: 2% of home value (HECM only)
- Annual: 0.5% of loan balance
California Example ($800,000 home):
- Upfront MIP: $16,000
- Annual MIP: ~$4,000/year
Third-Party Costs
- Appraisal: $500-800
- Title & Recording: $1,500-2,500
- Credit Report: $25-50
- HUD Counseling: Free to $125
Total California Closing Costs: $22,000-38,000 (typically financed into loan, no out-of-pocket expense)
California Reverse Mortgage Advantage: We compare costs across lenders and often secure lower fees through our partnerships.
How Much Can You Borrow?
Principal Limit by Age:
| Age | % of Home Value Available |
| 62 | 50-52% |
| 70 | 55-58% |
| 75 | 58-62% |
| 80+ | 62-75% |
California Examples:
Sacramento (Age 68, $650K home, $100K mortgage): Available: ~$350K (pay off $100K, receive $250K)
San Diego (Age 75, $950K home, no mortgage): Available: ~$570K-$590K
San Francisco Jumbo (Age 70, $2.2M home, $400K mortgage): Available: ~$1M-$1.2M
Calculate yours: californiareversemortgage.us/calculators
Payment Options
1. Line of Credit (Variable Rate) Most Popular
- Draw funds as needed
- Unused credit grows annually
- Best for flexibility and long-term planning
Example: $500,000 credit line growing at 5% = $525,000 available after 1 year
2. Lump Sum (Fixed Rate)
- Receive all funds at closing
- Best for paying off mortgage or one-time expenses
3. Monthly Payments (Variable Rate)
- Tenure: Equal payments for life in home
- Term: Equal payments for set period
- Best for supplementing retirement income
4. Combination
- Mix options for maximum flexibility
Our Recommendation: 70% of California clients choose line of credit for growth potential and flexibility.
Pros & Cons
✅ Advantages
- Eliminate monthly mortgage payments
- Access home equity without selling
- Tax-free proceeds (not considered income)
- Stay in your California home
- Non-recourse protection (never owe more than home value)
- Prop 13 tax base maintained
❌ Disadvantages
- Higher fees than traditional mortgages
- Interest compounds over time
- Must pay property taxes, insurance, HOA, maintenance
- Reduces inheritance for heirs
- Moving to assisted living triggers repayment
- Impacts Medi-Cal eligibility (asset-tested programs)
California-Specific Considerations
Proposition 13 Benefits
Your property tax base remains unchanged—reverse mortgage doesn’t trigger reassessment, and the 2% annual increase cap still applies.
HUD Counseling Requirement
Required for all HECM loans. California has HUD-approved counseling agencies in Los Angeles, San Francisco, and Sacramento.
Cost: Free to $125 | Duration: 60-90 minutes California Reverse Mortgage provides: Counselor referrals and preparation guidance
When Loan Becomes Due
Triggering Events:
- Last borrower passes away
- Property sold
- Move out permanently (12+ months)
- Fail to pay property taxes/insurance
- Home falls into disrepair
Heir Options:
- Pay off loan and keep home (at 95% of appraised value or loan balance, whichever is less)
- Sell home and keep remaining equity
- Deed in lieu of foreclosure (no deficiency judgment)
Avoiding California Scams
Red Flags
- Pressure to sign immediately
- “Invest proceeds in our program”
- Contractor suggesting reverse mortgage before repairs
- Blank spaces in contracts
- Unsolicited home visits
Protection with California Reverse Mortgage
- Licensed: DRE #01905780, NMLS #2125432
- 10+ Years Experience
- Zero Foreclosures
- Complete Transparency
- No Pressure Consultations
Report scams: California Department of Real Estate | (877) 373-4542
Your 6-Step Process
Step 1: Free Consultation – Call (888) 887-0492 for no-obligation assessment
Step 2: Lender Selection – We match you with optimal lender and products
Step 3: HUD Counseling – Complete required 60-90 minute session (we provide referrals)
Step 4: Appraisal – FHA appraiser visits your California property
Step 5: Underwriting & Approval – Financial assessment and final approval
Step 6: Closing & Funding – Sign documents (mobile notary), 3-day rescission, receive funds
Average Timeline: 30-45 days | Success Rate: 98% approval for qualified applicants
Take the Next Step
California Reverse Mortgage, Your trusted guide to California’s best reverse mortgage lenders.