Bottom Line Up Front
The FHA-insured HECM lets homeowners 62+ access equity without monthly payments. Repayment occurs when you leave the home.
Overview
The FHA-insured HECM lets homeowners 62+ access equity without monthly payments. Repayment occurs when you leave the home.
Who Qualifies?
Age 62+. Own outright or significant equity. Primary residence. Must pay taxes/insurance.
Key Benefits
- ✓No monthly payments
- ✓Tax-free proceeds
- ✓Stay in home
- ✓Multiple payout options
✅ Pros
- Supplement retirement
- No repayment until departure
- Non-recourse
⚠️ Considerations
- Reduces inheritance
- Significant fees
- Must maintain property
California-Specific Information
California's high values make reverse mortgages especially attractive — many seniors own $1M+ homes.
Rates & Pricing
Fixed and variable options. Amount depends on age, value, and rates.
Why Choose Save Financial for Reverse Mortgages?
Save Financial is a trusted California mortgage broker (NMLS #377740) with 45 years of combined experience and relationships with 20+ wholesale lenders. We specialize in finding the best reverse mortgages rates and terms for California borrowers. Our $500 price guarantee means if we can't beat another lender's offer, you get $500. We serve 60+ California cities from our offices in Newport Beach and Marina del Rey, and our team speaks English and Spanish.
Call (888) 703-1840 or get a free quote online — open 7 days a week, 9AM–8PM.
$500 Cash Loan Price Match Guarantee
Get a written offer from any lender. If Save Financial cannot beat it for the same product, we pay you $500 cash.
NMLS #377740 · DRE #01875766 · Call (888) 703-1840
Reviewed By
Mike Baasti, Licensed Mortgage Broker
Founder of Save Financial, Inc. (NMLS #377740) in Newport Beach, CA. 20+ years in residential and investment lending across conventional, FHA, VA, jumbo, hard money, bank statement, and specialty mortgage programs.