Loading
Loading
Stockton has a strong base of long-term homeowners. Many have built significant equity over decades — equity that sits locked up while fixed incomes get squeezed.
A reverse mortgage lets homeowners 62 and older convert that equity into cash. No monthly mortgage payment required. You stay in the home.
62 years old
Minimum Age
None required
Monthly Payments
Required before closing
HUD Counseling
FHA HECM
Common Program
You sell or move out
Loan Due When
Reverse Mortgages in Stockton
The core requirements are age, equity, and residency. You must be 62+, live in the home as your primary residence, and have enough equity to qualify.
You still pay property taxes, homeowner's insurance, and HOA fees. Failing to keep those current can trigger default. Lenders verify this upfront.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in Stockton.
Stockton has a strong base of long-term homeowners. Many have built significant equity over decades — equity that sits locked up while fixed incomes get squeezed.
A reverse mortgage lets homeowners 62 and older convert that equity into cash. No monthly mortgage payment required. You stay in the home.
The core requirements are age, equity, and residency. You must be 62+, live in the home as your primary residence, and have enough equity to qualify.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages — backed by FHA. A handful of lenders also offer proprietary jumbo reverse products.
Not every lender offers both. We work with 200+ wholesale lenders, so we can match your equity level and home value to the right program.
The biggest mistake I see: borrowers assume any lender offers the same deal. HECM rates and fees vary more than people expect. Shopping matters.
Payout structure matters too. You can take a lump sum, a line of credit, or monthly payments. The right choice depends on your cash flow needs — not just your equity.
HELOCs and home equity loans also tap equity — but both require monthly payments. If income is the constraint, that's a real difference.
A HELOC gives you a credit line with a variable rate. A reverse mortgage gives you access to equity with no repayment until you leave the home. Different tools for different situations.
Stockton has a mix of older neighborhoods where homeowners bought in the 80s and 90s. That's 30+ years of equity sitting in those properties.
San Joaquin County values have appreciated meaningfully since the post-2008 lows. That recovery means more usable equity for qualifying borrowers.
No. You remain on the title. The loan is repaid when you sell, move out, or pass away.
They can repay the loan balance and keep the home, or sell it to settle the debt. Any remaining equity goes to them.
Yes, but only if the condo project is FHA-approved. We verify this before you go through counseling.
There's no fixed minimum, but lenders look at your age, home value, and current rates. More equity and older age generally means more access.
Generally no — loan proceeds are not taxable income. Consult a tax advisor for your specific situation.
You can still qualify. The reverse mortgage must first pay off any existing mortgage balance. Remaining proceeds come to you.