If you are 62 or older and own your California home, a reverse mortgage lets you turn part of the equity you have already built into cash — without a required monthly mortgage payment, and without giving up the title to your home. You still pay property taxes, homeowners insurance, HOA dues if you have them, and keep the home maintained. Those obligations do not go away.
Most of what people “know” about reverse mortgages comes from a TV ad they half-remember. This page is the plain-English version, from someone local you can actually sit down with.
Three things people use it for
💰 Retire the monthly payment
Pay off the mortgage you are still making payments on, and remove that required monthly mortgage payment from your budget. Taxes, insurance, HOA dues and upkeep still apply.
🏠 Keep the low-rate first loan
Locked into a great rate years ago? Some programs let you leave that first mortgage exactly where it is and still pull cash out, so you do not trade away the rate you already have.
🔑 Buy your next home
Downsizing or right-sizing? Qualifying buyers 62+ can purchase a home and finance it this way, with no required monthly mortgage payment. John handles the home search and the loan.
The option almost nobody advertises
Love your 3% rate? Keep it. Reach your equity anyway.
Most ways of getting at your equity make you give up the first mortgage you are sitting on. If you locked a 2-point-something or 3-point-something rate years ago, that trade is usually a bad one — you would be handing back the best financial term you own.
There is a second-lien reverse mortgage that does not ask you to. Your existing first mortgage stays exactly where it is, untouched, and the equity comes out on top of it as a lump sum — with no new monthly mortgage payment. In California it opens up at age 55, not 62.
One real catch worth knowing up front: your existing first mortgage has to be a fully amortizing loan. If your first is interest-only, this route will not work — and John would rather tell you that in the first five minutes than after an appraisal. There is also a minimum and a maximum amount; he will confirm the current figures on your call.
How it works, in three steps
- We talk it through — free, no obligationYour age, your home, what you owe, and what you are trying to accomplish. Sometimes the honest answer is that a reverse mortgage is not the right tool for you. You will hear that from John if it is true.
- You meet with an independent counselorBefore you can move forward on the federally insured program, you sit down — by phone or in person — with a HUD-approved counselor who does not work for John or for any lender. They walk you through the costs, the alternatives, and your obligations. There is a counseling fee, and the counselor tells you the current amount up front.
- Appraisal, underwriting, closingTypically about 30 to 45 days end to end, depending on the appraisal and how fast paperwork comes back. You choose how the money reaches you — a lump sum, monthly payments, a line of credit, or a mix. After closing you have three business days to change your mind.
Which route could actually work for you?
Three sliders, no name, no email, no phone. Nothing you type here leaves your browser — there is no form behind this and nothing is sent anywhere. It will not quote you a loan amount, because an honest number needs your age, current rates, the program, and an appraisal. What it will do is tell you which doors are even open.
Your home value minus what you still owe. How much of it a reverse mortgage can actually reach is a different number, and it takes a conversation.
This is not an application for a reverse mortgage. Educational estimate only — not a loan offer, not a commitment to lend, and not a statement that you qualify. Program parameters, minimum ages, and limits vary by program and change over time; John confirms the current ones with you.
Is this even a fit? Here is the honest checklist
- Age. 62 or older for the federally insured program. Some proprietary programs start at 55.
- It is your primary home. You live there most of the year. Vacation homes and pure rentals do not qualify.
- You have real equity. Lenders generally look for around 50% or more of the home’s value. If you owe close to what it is worth, this usually will not work.
- You can keep up taxes, insurance and upkeep. This is the part people miss. It is a loan obligation, not a suggestion — falling behind can put the home at risk.
- You plan to stay a while. The upfront costs make more sense the longer you stay in the home.
The four questions everyone asks first
“Will the bank own my home?”
No. You keep the title. It is a lien on the property, the same as any other mortgage.
“Do I still pay taxes and insurance?”
Yes — plus HOA dues if you have them, and normal upkeep. That never changes.
“What if I end up owing more than it is worth?”
The federally insured program is non-recourse. You and your heirs will never owe more than the home is worth when the loan is repaid.
“Can I be forced out?”
Not while you live there as your main home and keep up your loan obligations.
See all 16 questions answered →
Why talk to John about this
Fewer than 6% of California licensees hold both a real estate license and a mortgage license. John Abril holds both — CA DRE #01060119 and NMLS #280222 — and has worked in Ontario and the greater Inland Empire for 24+ years.
That matters most when a reverse mortgage is part of a move. If you are selling the current house and buying the next one with no required monthly mortgage payment, one person can list your home, find the next one, run the comps, and do the loan. No handoffs, no two sets of phone calls, and nobody blaming the other side when something slips.
John is a broker, so your file gets shopped across a network of bank and lender partners rather than pushed into one company’s product. And your information goes to John only — never sold to other agents, never handed to a call center.
Bring your questions. Bring your family.
A free 30-minute call, no obligation and no pressure — and no hard feelings if you decide it is not for you.
📅 Book a Free 30-Min Call 📞 Call 909.892.3526Get your reverse mortgage options
Tell John a little about the home. He will follow up with real options for your situation — and the free guide.
Important disclosures. This material is not from HUD, FHA, or any government agency, and it has not been approved by HUD, FHA, or any government agency. Informational only — not a commitment to lend, and not financial, legal, or tax advice. A reverse mortgage has no required monthly mortgage payment; borrowers must continue to live in the home as their primary residence, pay property taxes, homeowners insurance and HOA dues if applicable, maintain the property, and meet all loan obligations. Failing to meet those obligations can result in default and foreclosure. The loan balance grows over time and becomes due when the last borrower sells the home, moves out of the home permanently, or passes away. Home Equity Conversion Mortgages are non-recourse: neither you nor your heirs will owe more than the home is worth at repayment. Borrowers must complete a counseling session with an independent HUD-approved counselor before obtaining a HECM. Program availability, minimum age, costs, and terms vary by program and are subject to change without notice. All loans subject to credit approval, property approval, and program availability. If you receive needs-based government assistance, consult a benefits specialist before proceeding. John Abril, NMLS #280222 | CA DRE #01060119 | Equal Housing Opportunity. NMLS Consumer Access: nmlsconsumeraccess.org.