Reverse Mortgage Specialists in San Diego, CA
Browse reverse mortgage specialists serving San Diego, California. Contact information and addresses listed below.
Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the
State Mortgage Licensing Authority of California before hiring.
Showing 20 reverse mortgage specialists in San Diego, CA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
A reverse mortgage specialist in San Diego California helps homeowners aged 62 and older convert part of their home equity into loan proceeds. California law requires a mandatory counseling session with a HUD approved counselor before you can apply for a Home Equity Conversion Mortgage HECM. This process allows you to receive funds while retaining home ownership as long as you pay property taxes and insurance.
What Does a Reverse Mortgage Specialist in San Diego Cost?
Typical costs for a reverse mortgage in California include an origination fee up to $6,000 a mortgage insurance premium of 2% of the appraised value and third party fees like appraisal and title search. Total closing costs often range from $8,000 to $15,000 depending on the property value and lender. These costs can be financed into the loan so you do not pay them out of pocket. This is general information and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What are the eligibility requirements for a reverse mortgage in San Diego?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The home must be your primary residence and meet FHA property standards. A HUD approved counseling session is required before you can submit an application.
How much can I borrow with a reverse mortgage in California?
The amount depends on your age the value of your home and current interest rates. For a HECM the maximum claim amount in 2024 is $1,089,300 for most areas including San Diego. Your actual loan amount will be calculated during the counseling and application process.
What happens if I move out of my San Diego home after getting a reverse mortgage?
If you move out for more than 12 consecutive months the loan becomes due and payable. This includes moving to a nursing home or assisted living facility. You or your heirs may need to sell the home to repay the loan or refinance into a traditional mortgage.