Private reverse mortgage options are available to eligible California homeowners as young as 55. Minimum ages and other requirements vary by product.

For FHA-insured Home Equity Conversion Mortgages (HECMs), each borrower must be at least 62. A younger spouse may qualify as an eligible non-borrowing spouse, with certain protections and restrictions.

Your home must be your primary residence.

Repayment is generally deferred until the home is sold or the last borrower passes away or no longer occupies it as a principal residence, provided loan obligations are met. For HECMs, an eligible non-borrowing spouse may qualify to defer repayment after the borrower’s death or an absence exceeding 12 consecutive months in a healthcare facility, if applicable requirements continue to be met. Spouse protections for private reverse mortgages vary by product.

You must keep property taxes, required insurance, and applicable HOA dues current, maintain the home, and meet occupancy and other loan requirements. Failure to meet these obligations can make the loan due and may lead to foreclosure.

A reverse mortgage is a loan that must eventually be repaid. Interest and applicable fees accrue on the outstanding balance. Without voluntary payments, the balance generally grows over time, which can reduce the equity available to you or your heirs.