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Scotts Valley homeowners have spent decades building equity. A reverse mortgage lets you access that equity without selling or making monthly payments.
Santa Cruz County home values are strong. That works in your favor — more equity means more cash available through a reverse mortgage.
62 years old
Minimum Age
None required
Monthly Payments
Yes — HUD-approved
Counseling Required
HECM (FHA-backed)
Loan Type
On sale or vacancy
Loan Comes Due
Reverse Mortgages in Scotts Valley
You must be 62 or older and live in the home as your primary residence. The home must have sufficient equity — and most Scotts Valley properties clear that bar.
You still pay property taxes, homeowner's insurance, and maintenance. Falling behind on any of these can trigger default.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in Scotts Valley.
Scotts Valley homeowners have spent decades building equity. A reverse mortgage lets you access that equity without selling or making monthly payments.
Santa Cruz County home values are strong. That works in your favor — more equity means more cash available through a reverse mortgage.
You must be 62 or older and live in the home as your primary residence. The home must have sufficient equity — and most Scotts Valley properties clear that bar.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages backed by the FHA. Not every lender offers them, and terms vary significantly.
We work with 200+ wholesale lenders at SRK CAPITAL. We find the ones with the best terms for your specific situation in Scotts Valley.
The biggest mistake I see: borrowers taking the first offer. Origination fees and rate spreads differ enough to cost you tens of thousands over time.
Payout structure matters too. You can take a lump sum, a line of credit, or monthly payments. The right choice depends on your retirement income plan.
A HELOC or home equity loan also taps your equity — but both require monthly payments. A reverse mortgage doesn't, which matters on a fixed retirement income.
If you plan to leave the home to heirs, a HELOC may preserve more equity. A reverse mortgage is better when cash flow today is the priority.
Scotts Valley sits in Santa Cruz County, where property values have historically held well. Long-term owners often have deep equity — ideal for a reverse mortgage.
The area attracts retirees who want to stay in place. A reverse mortgage is a practical tool for aging in a home you've owned for decades.
Yes. You keep the title. The loan is repaid when you sell, move out, or pass away.
Heirs can repay the loan and keep the home, or sell it. Any remaining equity goes to them.
Yes, if you stop paying taxes, insurance, or stop living there as your primary home.
Yes, it's mandatory before any HECM closes. A HUD-approved counselor reviews the loan with you.
It depends on your age, current rates, and appraised value. Older borrowers with more equity qualify for more. Rates vary by borrower profile and market conditions.
Possibly. FHA-approved condos qualify for HECMs. Non-approved condos require a proprietary reverse mortgage instead.