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Dos Palos is a small agricultural community in Merced County. Many longtime homeowners here have built real equity over decades of ownership.
A reverse mortgage lets homeowners 62 and older tap that equity. No monthly mortgage payment is required while you live in the home.
62 years old
Min Age Requirement
None required
Monthly Payments
HECM (FHA-backed)
Loan Type
~90 minutes
Counseling Required
3 available
Payout Options
Reverse Mortgages in Dos Palos
You must be 62 or older and live in the home as your primary residence. The home must have sufficient equity — most lenders want the property owned free and clear or nearly so.
You still pay property taxes, homeowner's insurance, and maintenance. Skipping those can trigger loan repayment.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in Dos Palos.
Dos Palos is a small agricultural community in Merced County. Many longtime homeowners here have built real equity over decades of ownership.
A reverse mortgage lets homeowners 62 and older tap that equity. No monthly mortgage payment is required while you live in the home.
You must be 62 or older and live in the home as your primary residence. The home must have sufficient equity — most lenders want the property owned free and clear or nearly so.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages — backed by the FHA. Very few local banks offer them. Wholesale lenders are where real options live.
At SRK CAPITAL, we shop across 200+ wholesale lenders. That matters in a small market like Dos Palos where retail banks rarely specialize in this product.
The biggest mistake I see: seniors wait too long. Tapping equity at 70 leaves more years of potential home appreciation behind you.
Loan proceeds can be taken as a lump sum, monthly payments, or a line of credit. The line of credit option often gets overlooked — it grows over time and gives you flexibility.
A HELOC also taps home equity, but requires monthly payments and income verification. Many retired homeowners on fixed income don't qualify.
A reverse mortgage has no monthly payment requirement. That makes it a fundamentally different tool — not just a different rate.
Dos Palos properties tend to be single-family homes on larger lots. Most HECM programs cover standard single-family residences with no issues.
Agricultural or rural properties sometimes raise appraisal questions. Your home must meet FHA minimum property standards to qualify for a HECM.
You can if you stop paying taxes, insurance, or abandon the home. Stay current on those and the loan stays in good standing.
Your heirs can sell the home to repay the loan or refinance it. Any remaining equity after repayment goes to them.
There's no minimum credit score for a HECM. Lenders do a financial assessment to ensure you can cover taxes and insurance.
It depends on your age, home value, and current interest rates. Older borrowers with more equity generally access a higher percentage. Rates vary by borrower profile and market conditions.
Yes. HUD requires it before you can close. It takes about 90 minutes and covers your options, costs, and alternatives.
Sometimes. The home must meet FHA standards and be on a permanent foundation. Not every manufactured home qualifies.