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Murrieta has a large and growing retiree population. Many homeowners here have built serious equity over the past decade.
A reverse mortgage lets homeowners 62+ tap that equity without selling or making monthly payments. That's a real option in a high-equity market like Murrieta.
62 years old
Min Age
Not required
Monthly Payments
Required
HUD Counseling
HECM or Jumbo
Loan Type
Move out or pass away
Loan Due When
Reverse Mortgages in Murrieta
You must be 62 or older and live in the home as your primary residence. The home must have enough equity to qualify.
Lenders also check that you can cover property taxes, insurance, and maintenance. Failing those obligations can trigger default.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in Murrieta.
Murrieta has a large and growing retiree population. Many homeowners here have built serious equity over the past decade.
A reverse mortgage lets homeowners 62+ tap that equity without selling or making monthly payments. That's a real option in a high-equity market like Murrieta.
You must be 62 or older and live in the home as your primary residence. The home must have enough equity to qualify.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages — backed by FHA. They carry federally regulated terms.
At SRK CAPITAL, we shop across 200+ wholesale lenders. That means we can find proprietary jumbo reverse programs too, not just FHA-backed options.
HUD requires you to complete independent counseling before closing. Don't skip this — it's genuinely useful.
The payout structure matters a lot. Lump sum, line of credit, or monthly payments each serve different retirement needs. Pick based on your actual cash flow situation.
A HELOC gives you flexibility but requires monthly payments. If fixed income is tight, that monthly obligation matters.
A reverse mortgage eliminates that payment. But it reduces the equity you pass to heirs. Weigh both sides carefully.
Murrieta's median home values have climbed steadily. More equity typically means a larger reverse mortgage payout.
Riverside County property taxes are manageable but must stay current. Falling behind on taxes is one of the top reasons reverse mortgages go into default.
Yes. You keep the title. The lender places a lien, but ownership stays with you.
The loan becomes due. Heirs can sell the home, pay off the balance, or refinance to keep it.
Yes, but the reverse mortgage must pay off the existing loan first. Remaining proceeds go to you.
HECMs don't have a hard credit score cutoff. Lenders do review your credit history and financial assessment.
It depends on your age, home value, and current interest rates. Older borrowers with more equity access more funds. Rates vary by borrower profile and market conditions.
If your spouse is a co-borrower or an eligible non-borrowing spouse, they can remain in the home.