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San Bernardino has a strong base of long-term homeowners. Many have built significant equity over decades — equity that's just sitting there.
A reverse mortgage converts that equity into cash. No monthly mortgage payment required, and you stay in your home.
62 years old
Minimum Age
None required
Monthly Payments
HUD-approved
Counseling Required
HECM (FHA-backed)
Loan Type
Move out or sell
Loan Due When
Reverse Mortgages in San Bernardino
You must be at least 62, own the home outright or have substantial equity, and live there as your primary residence.
Lenders also require a financial assessment. They check income, credit history, and whether you can cover taxes and insurance.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in San Bernardino.
San Bernardino has a strong base of long-term homeowners. Many have built significant equity over decades — equity that's just sitting there.
A reverse mortgage converts that equity into cash. No monthly mortgage payment required, and you stay in your home.
You must be at least 62, own the home outright or have substantial equity, and live there as your primary residence.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages — backed by FHA. Not every lender offers them.
SRK CAPITAL works with 200+ wholesale lenders. We find the one with the best terms for your specific situation.
The biggest mistake I see: borrowers assume the loan amount is fixed. It's not. Age, home value, and current rates all affect the payout.
Older borrowers with more equity generally access more funds. Getting counseling early helps you understand what your number actually looks like.
A HELOC also taps home equity, but it requires monthly payments. If cash flow is the problem, a HELOC can make it worse.
A reverse mortgage eliminates that monthly payment obligation. For fixed-income borrowers in San Bernardino, that difference is real.
San Bernardino has a significant senior population. Many bought homes here decades ago and are now sitting on strong equity positions.
Property taxes and insurance costs in San Bernardino County are real obligations. A reverse mortgage doesn't eliminate them — plan accordingly.
No. You don't make monthly mortgage payments. The loan balance is repaid when you sell, move out, or pass away.
Yes, if you fail to pay property taxes, homeowner's insurance, or let the home fall into disrepair. Stay current on those obligations.
It depends on your age, home value, and current rates. Older borrowers with more equity typically qualify for more. Rates vary by borrower profile and market conditions.
Yes. Federal law requires it before you can close. A HUD-approved counselor reviews your options and confirms you understand the loan terms.
Your heirs can sell the home to repay the loan or refinance it. Any remaining equity after repayment belongs to your estate.
Yes, if you have enough equity. The reverse mortgage pays off your existing mortgage first. The remaining funds go to you.