Question 1

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes. You keep the title. The lender places a lien, repaid when you sell or vacate.

Question 2

What happens if my spouse is under 62?

Accepted Answer

A younger spouse can be listed as a non-borrowing spouse with protections. Talk to us before closing — this affects your options.

Question 3

Can I get a reverse mortgage on a condo in Rancho Cucamonga?

Accepted Answer

Yes, but the condo must be FHA-approved for a HECM. Some condos in the area qualify — we can check quickly.

Question 4

What if my home has an existing mortgage?

Accepted Answer

The reverse mortgage pays off your existing loan first. Remaining proceeds go to you.

Question 5

How is the loan amount determined?

Accepted Answer

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.

Question 6

When does the reverse mortgage become due?

Accepted Answer

Repayment triggers when you sell, permanently move out, or pass away. Heirs can repay or sell the home.

Reverse Mortgages in Rancho Cucamonga