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Wasco is a working-class agricultural city in Kern County. Many long-term homeowners here have built real equity over decades.
A reverse mortgage lets homeowners 62+ access that equity as cash. No monthly mortgage payment required.
62 Years Old
Minimum Age
None Required
Monthly Payment
HECM (FHA-Backed)
Loan Type
Sale or Move-Out
Repayment Trigger
Required Before Close
HUD Counseling
Reverse Mortgages in Wasco
You must be 62 or older and live in the home as your primary residence. The home must be owned outright or have significant equity.
Lenders check your finances to confirm you can cover taxes, insurance, and maintenance. That review is called a financial assessment.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in Wasco.
Wasco is a working-class agricultural city in Kern County. Many long-term homeowners here have built real equity over decades.
A reverse mortgage lets homeowners 62+ access that equity as cash. No monthly mortgage payment required.
You must be 62 or older and live in the home as your primary residence. The home must be owned outright or have significant equity.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages — backed by FHA. They carry federal protections other products don't.
Not every lender offers HECMs. At SRK CAPITAL, we work with 200+ wholesale lenders and can shop programs across multiple HECM specialists.
The biggest mistake I see: borrowers waiting too long. Accessing equity at 68 gives you more flexibility than waiting until 78.
Proprietary reverse mortgages exist for higher-value homes. If your Wasco home has appreciated well, that option is worth comparing.
A HELOC also pulls from equity — but requires monthly payments and income to qualify. A reverse mortgage has no monthly payment obligation.
Home Equity Loans work similarly to HELOCs. Both make sense if you have steady income. Reverse mortgages are built for fixed-income borrowers.
Wasco has a strong base of long-term homeowners tied to agriculture. Many are equity-rich but income-limited — a textbook reverse mortgage profile.
Kern County property values have risen over time. That matters because a higher appraised value means more available equity to access.
No. You keep the title. The loan is repaid when you sell, move out, or pass away.
You cannot be forced out as long as you live there and maintain the home, taxes, and insurance.
Yes. The reverse mortgage must pay off your existing mortgage first. Remaining funds go to you.
Yes. Federal law requires independent HUD-approved counseling before any HECM closes.
You choose — lump sum, monthly payments, a line of credit, or a combination of all three.