Loading
Loading
Montclair homeowners who bought decades ago are sitting on serious equity. A reverse mortgage lets you access that equity without selling or making monthly payments.
San Bernardino County has a strong base of long-term homeowners. Many are 62 or older and equity-rich but cash-tight — exactly who this loan is built for.
62 years old
Minimum Age
Not required
Monthly Payments
HECM (FHA-backed)
Loan Type
Required at closing
HUD Counseling
Reverse Mortgages in Montclair
You must be at least 62. The home must be your primary residence. You also need enough equity — lenders won't approve this on a highly leveraged property.
You'll go through a mandatory HUD counseling session before closing. It's a federal requirement, not optional. Budget about 60–90 minutes for it.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in Montclair.
Montclair homeowners who bought decades ago are sitting on serious equity. A reverse mortgage lets you access that equity without selling or making monthly payments.
San Bernardino County has a strong base of long-term homeowners. Many are 62 or older and equity-rich but cash-tight — exactly who this loan is built for.
You must be at least 62. The home must be your primary residence. You also need enough equity — lenders won't approve this on a highly leveraged property.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages — backed by FHA. A smaller set of lenders offer jumbo reverse products for higher-value homes.
Not every lender touches reverse mortgages. We work with wholesale lenders who specialize in this product and know how to get these deals closed cleanly.
The biggest mistake I see: borrowers only talk to one lender. Rates and fees vary significantly on reverse mortgages. Comparing lenders matters more than most people realize.
A reverse mortgage doesn't erase your homeownership duties. Property taxes, homeowners insurance, and maintenance are still your responsibility. Skipping those can trigger default.
A HELOC gives you a credit line with monthly payments. A reverse mortgage gives you access to equity with no required monthly payments. Those are very different cash flow realities.
Home Equity Loans work if you have steady income to cover payments. Reverse mortgages work if your income is limited and you need to reduce monthly obligations.
Montclair sits in the western edge of San Bernardino County. Homes here have appreciated significantly over the past 20 years. Long-term owners often have equity well above their remaining loan balance.
As of April 2026, the HECM lending limit is set at the federal floor. Montclair home values for many borrowers fall within that range — making a standard HECM a practical fit.
Yes, if you stop paying property taxes or insurance, the lender can call the loan due. Stay current on those obligations and you keep the home.
Your heirs can repay the loan and keep the home, or sell it to settle the balance. Any remaining equity goes to them.
Yes. You remain on title and own the property. The lender places a lien, but you keep ownership as long as you meet loan terms.
Yes. Funds can cover living expenses, healthcare, home repairs, or anything else. There are no restrictions on how you use the proceeds.
Loan proceeds are not considered income and are generally not taxable. Consult a tax advisor to confirm based on your situation.
It depends on your age, home value, and current rates. Older borrowers with more equity generally qualify for higher proceeds.