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Poway homeowners have built serious equity over decades. A reverse mortgage lets you access that equity without selling or making monthly payments.
San Diego County property values have run high for years. That works in your favor — more equity means more cash available through a reverse mortgage.
62 years old
Minimum Age
Not required
Monthly Payment
FHA-insured HECM
Loan Type
Sale or vacancy
Repayment Trigger
Required before closing
HUD Counseling
Reverse Mortgages in Poway
You must be 62 or older. The home must be your primary residence — investment properties and vacation homes don't qualify.
Your home needs significant equity. You also must stay current on property taxes, insurance, and basic maintenance.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in Poway.
Poway homeowners have built serious equity over decades. A reverse mortgage lets you access that equity without selling or making monthly payments.
San Diego County property values have run high for years. That works in your favor — more equity means more cash available through a reverse mortgage.
You must be 62 or older. The home must be your primary residence — investment properties and vacation homes don't qualify.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages — backed by FHA. That federal backing gives borrowers strong consumer protections.
Not every lender prices HECM loans the same. Origination fees, closing costs, and servicing terms vary. Shopping matters here.
HUD requires you to complete counseling with an approved third-party counselor before closing. Budget time for that step — it's mandatory, not optional.
Many Poway seniors use reverse mortgages to eliminate an existing mortgage payment first. That frees up cash flow immediately without drawing a dime extra.
A HELOC gives you a credit line too — but requires monthly payments and income qualification. A reverse mortgage skips both requirements.
Home equity loans front you a lump sum but add a monthly payment. For retired Poway homeowners on fixed income, that matters a lot.
Poway attracts long-term homeowners. Many have lived here 20 to 30 years, which means deep equity positions — exactly what makes reverse mortgages viable.
San Diego County's high cost of living puts pressure on retirement budgets. A reverse mortgage can fill that gap without forcing a sale or a move.
No. Monthly payments are not required. You repay the loan when you sell, move out, or pass away.
You can if you fail to pay property taxes, insurance, or let the home fall into disrepair. Stay current on those and you're protected.
It depends on your age, home value, and current interest rates. Older borrowers with more equity generally qualify for larger amounts. Rates vary by borrower profile and market conditions.
Your heirs can sell the home to repay the loan or refinance it into a traditional mortgage. Any remaining equity goes to the estate.
Reverse mortgage proceeds are loan advances, not income. Consult a tax advisor — most borrowers receive them tax-free.
Not always. Rules exist for non-borrowing spouses under 62. A HUD-approved counselor will walk you through those specifics before you commit.