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Exeter is a small, tight-knit San Joaquin Valley town. Many longtime homeowners here have significant equity built up over decades.
A reverse mortgage lets homeowners 62+ tap that equity without selling. No monthly mortgage payment is required while you live in the home.
62 years old
Minimum Age
None required
Monthly Payment
HECM program
FHA-Insured
Before closing
Counseling Required
Grows over time
Loan Balance
Reverse Mortgages in Exeter
You must be 62 or older and live in the home as your primary residence. The home must be owned outright or have a low remaining mortgage balance.
HUD requires you to complete a counseling session with an approved agency before closing. This protects you and ensures you understand the loan terms.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in Exeter.
Exeter is a small, tight-knit San Joaquin Valley town. Many longtime homeowners here have significant equity built up over decades.
A reverse mortgage lets homeowners 62+ tap that equity without selling. No monthly mortgage payment is required while you live in the home.
You must be 62 or older and live in the home as your primary residence. The home must be owned outright or have a low remaining mortgage balance.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages — backed by FHA. Fewer lenders offer them than standard purchase loans.
At SRK CAPITAL, we shop across 200+ wholesale lenders to find HECM specialists. Not every lender prices these the same way.
Upfront costs on reverse mortgages are higher than standard loans. Mortgage insurance premiums, origination fees, and closing costs add up fast.
The loan balance grows over time as interest accrues. Borrowers who plan to stay long-term benefit most from this structure.
A HELOC gives you a credit line but requires monthly payments. A reverse mortgage gives you access to cash with no payment due while you live there.
Home equity loans also require monthly payments. If fixed income is a concern, a reverse mortgage removes that pressure entirely.
Exeter homeowners who purchased decades ago often carry little to no mortgage debt. That equity position is exactly what makes a HECM viable.
Tulare County property values are lower than coastal California. That affects your borrowing limit, which is based on your home's appraised value.
No monthly mortgage payment is required. You must keep up with taxes, insurance, and home maintenance.
Your heirs can sell the home or repay the loan balance to keep it. They're never personally liable beyond the home's value.
Yes, but the reverse mortgage must pay off your existing loan first. The remaining equity becomes your available funds.
It's based on your age, home's appraised value, and current interest rates. Older borrowers with more equity generally qualify for more.
Single-family homes and FHA-approved condos typically qualify. Manufactured homes may qualify if they meet HUD standards.
Yes, you retain title and ownership. The lender places a lien on the property, just like any other mortgage.