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San Jacinto has a strong base of long-term homeowners. Many have built significant equity over the years.
A reverse mortgage lets homeowners 62+ convert that equity into cash. No monthly mortgage payment required.
62 years old
Minimum Age
None required
Monthly Payments
HECM (FHA-backed)
Loan Type
Lump, monthly, LOC
Payout Options
Required before closing
HUD Counseling
Reverse Mortgages in San Jacinto
You must be 62 or older and live in the home as your primary residence. The home must also meet FHA property standards.
You need enough equity in the home to qualify. Existing mortgages get paid off first from the reverse mortgage proceeds.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in San Jacinto.
San Jacinto has a strong base of long-term homeowners. Many have built significant equity over the years.
A reverse mortgage lets homeowners 62+ convert that equity into cash. No monthly mortgage payment required.
You must be 62 or older and live in the home as your primary residence. The home must also meet FHA property standards.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages — backed by FHA. That backing matters for borrower protections.
Not every lender prices HECMs the same. Origination fees and margin rates vary. Shopping lenders makes a real difference here.
Most clients come to us after a bank said no or quoted one option. We see deals across 200+ wholesale lenders.
The payout structure matters. You can take a lump sum, monthly payments, or a line of credit. Each fits a different cash flow need.
A HELOC gives you a credit line but requires monthly payments. A reverse mortgage does not — big difference on a fixed income.
Home equity loans work similarly but again come with payment obligations. For seniors with tight cash flow, that distinction is critical.
San Jacinto sits in the Inland Empire, where home values have climbed over the past decade. That growth benefits equity-rich seniors.
Riverside County property taxes are a real expense on fixed incomes. Reverse mortgage proceeds can cover those costs without new debt.
Yes. You remain on the title and keep ownership. The loan is repaid when you sell, move out, or pass away.
A HECM has no term. You can stay as long as you live there, pay taxes, and maintain the home.
Yes. Heirs can pay off the reverse mortgage balance and keep the home. They typically have 12 months to do so.
No. Reverse mortgage proceeds are loan advances, not income. Consult a tax advisor for your specific situation.
Being under 62, using the home as a rental, or having too little equity are the main disqualifiers.
HUD requires it to make sure you understand the loan terms and alternatives. It must happen before you apply.