Age in place, eliminate mortgage payments, and access tax-free cash from your home.
Get Your Free Reverse Mortgage Info Kit
A Reverse Mortgage, most commonly known as a Home Equity Conversion Mortgage (HECM), is a special type of loan for homeowners aged 62 or older. It allows you to convert a portion of your home equity into accessible cash, without having to sell your home or make monthly mortgage payments. You retain ownership of your home, and the loan becomes due when the last borrower leaves the home permanently.
This powerful financial tool is designed for California seniors looking to enhance their financial flexibility, pay off existing mortgages, cover living expenses, fund home improvements, or manage healthcare costs, all while continuing to live in the home they love. A Reverse Mortgage in California offers a path to financial freedom and stability in your retirement years.
At S.O.S. Loans, we are a trusted California direct lender and broker specializing in Reverse Mortgages. With expertise stretching back to 1999, we serve senior homeowners across all major California regions, from Los Angeles to Sacramento, ensuring you receive personalized guidance.
Since 1999, we've navigated the California Reverse Mortgage landscape. Our seasoned team understands local nuances, offering unparalleled support whether you're in San Diego or the San Francisco Bay Area.
As both a direct Reverse Mortgage lender and broker, we provide access to the widest selection of HECM loan options, helping you find the best Reverse Mortgage rates California has available.
We prioritize clear communication and personalized solutions for California seniors. Our experts are here to answer your questions and guide you with compassion.
A Reverse Mortgage allows you to access your home equity as tax-free cash, providing financial peace of mind and the ability to age in place in California.
We are committed to full transparency, ensuring you understand every aspect of your Reverse Mortgage in California with no hidden fees or complex jargon.
Our streamlined process aims to make securing your California Reverse Mortgage as smooth and efficient as possible, respecting your time and needs.
A Reverse Mortgage (specifically a Home Equity Conversion Mortgage or HECM) is a loan that allows homeowners aged 62 and older to convert a portion of their home equity into cash. Unlike a traditional mortgage, you don't make monthly mortgage payments. Instead, the lender pays you, and the loan is repaid when the home is sold or the borrower no longer lives there. You retain ownership of your home.
To qualify for a Reverse Mortgage in California, the youngest borrower must be at least 62 years old. You must own your home outright or have a significant amount of equity. The home must be your primary residence, and you must participate in mandatory HUD-approved counseling. Financial assessment also plays a role in determining eligibility.
Yes, absolutely! With a Reverse Mortgage, you retain full ownership of your home. The title remains in your name. You are still responsible for paying property taxes, homeowner's insurance, and maintaining the home, just like with a traditional mortgage.
The funds from a California Reverse Mortgage are tax-free and can be used for any purpose. Popular uses include paying off an existing mortgage (eliminating monthly payments), consolidating other debts, covering daily living expenses, funding home repairs or modifications, creating an emergency fund, or simply providing financial flexibility for retirement.
Federally-insured HECM Reverse Mortgages are highly regulated and come with built-in protections. These include mandatory counseling, non-recourse features (meaning you or your heirs will never owe more than the home's value), and safeguards ensuring you retain ownership as long as you meet loan terms (paying taxes, insurance, and maintaining the home).
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