Question 1

Can I lose my home with a reverse mortgage?

Accepted Answer

Yes — if you fail to pay taxes, insurance, or move out. Staying current on those obligations keeps you protected.

Question 2

What happens when I pass away?

Accepted Answer

Your heirs can sell the home, repay the balance, or refinance. They are never personally liable for the debt.

Question 3

Does my income or credit score matter?

Accepted Answer

For a HECM, lenders do a financial assessment — but there's no minimum credit score. Income is reviewed, not used to qualify.

Question 4

How much can I borrow?

Accepted Answer

It depends on your age, home value, and current interest rates. Older borrowers with more equity qualify for more. Rates vary by borrower profile and market conditions.

Question 5

Can I use a reverse mortgage if I still have a balance?

Accepted Answer

Yes — the reverse mortgage pays off your existing loan first. The remaining equity becomes available to you.

Question 6

Is Tulare a good market for reverse mortgages?

Accepted Answer

Many Tulare seniors have significant equity and fixed incomes — a strong profile for this product. It fits the local demographic well.

Reverse Mortgages in Tulare, CA — Turn Equity Into Income