Question 1

What is the minimum age for a reverse mortgage in San Clemente?

Accepted Answer

You must be at least 62 years old to qualify. All borrowers on the title must meet this age requirement.

Question 2

Do I still own my San Clemente home with a reverse mortgage?

Accepted Answer

Yes, you retain ownership and can stay in your home. You must maintain the property and pay taxes and insurance.

Question 3

How much can I borrow with my San Clemente property?

Accepted Answer

Loan amounts depend on your age, home value, and interest rates. Rates vary by borrower profile and market conditions.

Question 4

What happens to my reverse mortgage when I move out?

Accepted Answer

The loan becomes due when you permanently leave the home. Your heirs can repay the loan or sell the property to satisfy it.

Question 5

Are there alternatives to reverse mortgages in Orange County?

Accepted Answer

Yes, consider Home Equity Loans, HELOCs, or downsizing. Each option has different payment requirements and benefits for your situation.

Reverse Mortgages in San Clemente: Turn Your Home Equity Into Cash