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Westmorland is a small Imperial County town where many longtime homeowners carry significant equity. A reverse mortgage lets that equity work for you — without a monthly payment.
Imperial County's cost of living runs lower than most of California. That makes reverse mortgage proceeds stretch further here than in coastal markets.
62 years old
Minimum Age
Not required
Monthly Payment
HECM (FHA-backed)
Loan Type
Required before close
HUD Counseling
Reverse Mortgages in Westmorland
You must be 62 or older and live in the home as your primary residence. The home must have enough equity — lenders calculate how much you can access based on your age and home value.
You still pay property taxes, homeowner's insurance, and maintenance. Falling behind on those can trigger default, so budget for them.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in Westmorland.
Westmorland is a small Imperial County town where many longtime homeowners carry significant equity. A reverse mortgage lets that equity work for you — without a monthly payment.
Imperial County's cost of living runs lower than most of California. That makes reverse mortgage proceeds stretch further here than in coastal markets.
You must be 62 or older and live in the home as your primary residence. The home must have enough equity — lenders calculate how much you can access based on your age and home value.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages — backed by FHA. Not every lender offers them. We work with 200+ wholesale lenders, including those that actively compete on HECM pricing.
Rates vary by borrower profile and market conditions. Shopping across multiple lenders matters here — origination fees and margin rates differ more than most borrowers expect.
The biggest mistake I see: borrowers taking a lump sum when a line of credit fits better. A HECM line of credit grows over time — unused funds actually increase.
HUD requires independent counseling before you can close a reverse mortgage. Schedule it early. It adds a step but protects you — and good counselors ask questions your lender won't.
A HELOC also taps equity — but requires monthly payments and a minimum credit score. If cash flow is the issue, a reverse mortgage wins on that front.
Home equity loans give you a fixed lump sum with fixed payments. If you can handle a payment and want lower long-term cost, a HELoan may be cheaper. It depends on your situation.
Westmorland home values are modest relative to California averages. That limits the total draw on a reverse mortgage — but for many local homeowners, it's still a meaningful amount.
As of April 2026, the HECM lending limit is set nationally, not locally. Your actual proceeds depend on your age, interest rate, and appraised value — not county medians.
No. You keep the title. The lender places a lien on the property, just like a regular mortgage.
The loan becomes due. Heirs can sell the home, refinance it, or pay off the balance to keep it.
HECMs require the home to meet FHA property standards. Some manufactured homes qualify — an FHA appraisal determines eligibility.
It depends on your age, the appraised value, and current rates. Older borrowers with more equity access more funds.
Loan proceeds are not considered income. Consult a tax advisor to understand how it affects your specific situation.
Yes, under current HECM rules, eligible non-borrowing spouses have protections. Review these terms carefully before closing.