Do you qualify for a reverse mortgage?
The answer depends on the program. Here’s a clear, side-by-side look at what it takes — HECM, proprietary jumbo, and second-lien — for California homeowners 55+.
Requirements depend on the program you choose
The FHA-insured HECM is the most common path, but our proprietary jumbo products offer more flexibility for younger borrowers and higher-value California homes.
As an independent broker, we shop multiple wholesale lenders and match you to the program you actually qualify for — not just the one product a single bank happens to sell.
| Requirement | HECM (FHA) | Proprietary Jumbo | Second Lien |
|---|---|---|---|
| Minimum Age | 62 Years | 55 Years (in CA) | 55 Years (in CA) |
| Home Value Considered | Limit ~$1,249,125 | Full Value (up to $10M+) | Full Value (up to $10M+) |
| Max Loan Amount | ~$650k - $700k (varies) | Up to $4,000,000 | Up to $4,000,000 |
| Existing Mortgage | Must Pay Off | Must Pay Off | Keep Low Rate 1st |
| Residency | Primary Only | Primary (Some 2nd Homes) | Primary Only |
| Property Types | SFR, 2-4 Unit, FHA Approved Condos |
SFR, Condos (Flexible), PUDs |
SFR, Condos, PUDs |
| Counseling | HUD Counseling Required | Counseling Required | Counseling Required |
Financial Assessment (All Loans)
Since 2015, all reverse mortgages require a "Financial Assessment." This is not a strict minimum FICO score requirement like a traditional loan. Instead, underwriters look at:
- Residual Income: Do you have enough money left over each month after debts to pay for living expenses?
- Payment History: Have you paid your Property Taxes and Homeowner's Insurance on time for the last 24 months?
- Credit History: We look for patterns of responsibility rather than just a raw score.
Live the Retirement You Deserve
Unlock your home’s equity without monthly mortgage payments. Talk with our California reverse mortgage team today.