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Fontana's median home value sits well above San Bernardino County's median household income of $82,184, making equity access critical for older homeowners. Many residents have built substantial equity over decades but face tight monthly budgets.
A reverse mortgage lets homeowners 62+ tap that equity without selling or making monthly payments. The loan is repaid when you move, sell, or pass away.
62 years old
Minimum Age
$690,000
2026 FHA HECM Limit
580+
Credit Score Floor
45-60 days
Typical Approval Time
Reverse Mortgages in Fontana
You must be 62 or older and own your home outright or have minimal mortgage balance. The property must be your primary residence. Lenders verify you can cover property taxes, insurance, and HOA fees.
Credit score requirements are typically 580 or higher, though some lenders prefer 620+. Your home's value determines how much you can borrow. FHA insures most reverse mortgages, capping loans at $690,000 in San Bernardino County for 2026.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in Fontana.
Fontana's median home value sits well above San Bernardino County's median household income of $82,184, making equity access critical for older homeowners. Many residents have built substantial equity over decades but face tight monthly budgets.
A reverse mortgage lets homeowners 62+ tap that equity without selling or making monthly payments. The loan is repaid when you move, sell, or pass away.
You must be 62 or older and own your home outright or have minimal mortgage balance. The property must be your primary residence. Lenders verify you can cover property taxes, insurance, and HOA fees.
Reverse mortgages are specialized products offered by a smaller set of lenders than forward mortgages. Most are FHA Home Equity Conversion Mortgages (HECMs), which carry federal insurance and standardized rules.
Brokers and direct lenders both offer these products. Expect a longer approval timeline—typically 45 to 60 days—because the underwriting is thorough and counseling is required by law.
Reverse mortgages make sense for Fontana homeowners who are cash-constrained but equity-rich. If you're 62+, own a home worth $400,000 or more, and need monthly income or a lump sum, this product opens real options.
They don't work well if you plan to leave the home to heirs or if you're still working and have income. The loan balance grows over time as interest accrues, reducing what your estate receives.
A home equity line of credit (HELOC) lets you borrow against equity but requires monthly payments and a good credit score. A reverse mortgage requires no payments while you live there, but the loan balance grows and you must be 62+.
Selling and downsizing is another path—it frees cash without debt. But reverse mortgages let you stay in your home and access equity at the same time.
Fontana's cost of living remains lower than coastal California, but property taxes and insurance still consume a chunk of fixed incomes. A reverse mortgage can bridge that gap for retirees.
The city's proximity to employment centers and services makes it attractive for long-term residents. If you plan to age in place, a reverse mortgage supports that goal without forcing a move.
The 2026 FHA HECM limit in San Bernardino County is $690,000. Your actual borrowing amount depends on your age, home value, and current interest rates. Older borrowers can access more equity.
No. You make no monthly mortgage payments while you live in the home. The loan is repaid when you move, sell the property, or pass away. Interest and fees accrue over time.
Yes, but your existing mortgage balance must be paid off first using reverse mortgage proceeds. If your current loan is large, less equity remains available to borrow.
Your heirs inherit the home. They can keep it by repaying the reverse mortgage, or sell it to pay off the loan. Any remaining equity goes to your estate.
Yes. Federal law requires third-party counseling from a HUD-approved counselor. This is free and ensures you understand the product before committing.