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San Leandro homeowners have built real equity over the years. A reverse mortgage turns that equity into tax-free cash — no monthly payments required.
Alameda County home values have historically been strong. That means many seniors here are sitting on significant, accessible equity.
62 years old
Minimum Age
None required
Monthly Payments
Required
HUD Counseling
FHA HECM
Common Program
You sell or move out
Loan Due When
Reverse Mortgages in San Leandro
You must be 62 or older. The home must be your primary residence — not a rental or vacation property.
You still pay property taxes, insurance, and maintenance. Failing to keep those current can trigger default.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in San Leandro.
San Leandro homeowners have built real equity over the years. A reverse mortgage turns that equity into tax-free cash — no monthly payments required.
Alameda County home values have historically been strong. That means many seniors here are sitting on significant, accessible equity.
You must be 62 or older. The home must be your primary residence — not a rental or vacation property.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages backed by FHA. A handful of private "jumbo" reverse products also exist for higher-value homes.
We work with 200+ wholesale lenders. That gives us access to both government-backed HECMs and private reverse options that banks rarely offer.
HUD requires independent counseling before closing. Do it early — it's required and it actually helps borrowers ask better questions.
The loan amount depends on your age, home value, and current interest rates. Older borrowers with higher-value homes generally get more. Rates vary by borrower profile and market conditions.
A HELOC gives you a credit line but requires monthly payments. A reverse mortgage does not — that's the core difference for cash-strapped retirees.
Home Equity Loans also require monthly payments and income verification. Reverse mortgages skip both. The tradeoff is complexity and upfront costs.
San Leandro has a stable, established homeowner base. Many residents have owned their homes for decades — making reverse mortgage eligibility common here.
Alameda County property tax rules matter. You must stay current on taxes to keep the loan in good standing. California's Prop 19 may affect heirs who inherit the property.
No. The loan balance grows over time and is repaid when you sell, move out, or pass away.
Heirs can repay the loan and keep it. They can also sell the home and keep any remaining equity.
It depends on your age, home value, and current rates. Higher home values in Alameda County often mean more available equity.
Yes, it's required for all HECM borrowers. You complete it with an approved HUD counselor before closing.
Nothing — you stay in the home. The loan only comes due when you permanently leave or the home is sold.
Yes, but FHA must approve the condo project. Not all Alameda County condos qualify — check before assuming.