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Graeagle sits in Plumas County, where the median household income is $64,946. Home values here appeal to retirees and second-home buyers seeking mountain living.
Reverse mortgages let homeowners 62+ tap equity without selling. You keep the title and live in your home. The loan is repaid when you move, sell, or pass away.
62 years old
Minimum Age
Not required
Monthly Payment
$64,946
County Median Income
Sale or passing
Loan Repaid At
Reverse Mortgages in Graeagle
You must be at least 62 years old and own your home outright or have substantial equity. The lender will order an appraisal to determine how much you can borrow.
Plumas County's median household income of $64,946 means most homes here fall well below the conforming limit of $832,750 for 2026. You'll need to show you can cover property taxes, insurance, and maintenance.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in Graeagle.
Graeagle sits in Plumas County, where the median household income is $64,946. Home values here appeal to retirees and second-home buyers seeking mountain living.
Reverse mortgages let homeowners 62+ tap equity without selling. You keep the title and live in your home. The loan is repaid when you move, sell, or pass away.
You must be at least 62 years old and own your home outright or have substantial equity. The lender will order an appraisal to determine how much you can borrow.
Reverse mortgages are federally insured through HUD's Home Equity Conversion Mortgage (HECM) program. Only FHA-approved lenders can originate them.
California lenders compete on closing costs and customer service rather than rates. The HECM program sets the interest-rate framework. Loan terms are standardized, so shopping focuses on upfront costs and counseling quality.
Reverse mortgages make sense for Graeagle homeowners 62+ who want to stay in place and need cash. If you have substantial home equity and plan to live there long-term, the math works.
They don't make sense if you plan to move within five years. Closing costs are significant, and the loan balance grows over time.
A home equity line of credit (HELOC) lets you borrow against equity with monthly payments. A reverse mortgage requires no monthly payment but costs more upfront.
Reverse mortgages suit retirees on fixed income who want to stay put. HELOCs work better for working-age homeowners who can handle monthly payments.
Feather River College's Upward Bound program brings college exposure to Plumas County students. That educational investment signals a community focused on opportunity.
The new Feather River state park with boat launch and beach access draws outdoor enthusiasts to the region. Retirees moving to Graeagle often cite access to nature and recreation as key reasons.
You must be at least 62 years old. The older you are, the more you can typically borrow based on your home value.
Yes. You remain responsible for property taxes, homeowners insurance, and maintenance. The lender may require you to set aside funds for these costs.
Your heirs inherit the home. They can keep it by repaying the loan balance, or sell it to pay off the loan. Any remaining equity goes to your estate.
Yes. Property taxes and insurance are your obligation. Failure to pay can result in foreclosure, just as with a traditional mortgage.
The amount depends on your age, home value, and current interest rates. Older borrowers with higher home values access more equity. An appraisal and HUD counseling determine your specific amount.