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Ojai attracts retirees for good reason. The valley's pace, air quality, and tight-knit community make it a place people stay for decades.
Long-term homeowners here have built serious equity. A reverse mortgage lets that equity work without forcing a sale or a move.
62 years old
Minimum Age
None required
Monthly Payments
Yes (HECM)
FHA Insured
HUD-approved
Counseling Required
Lump, line, monthly
Payout Options
Reverse Mortgages in Ojai
You must be at least 62, live in the home as your primary residence, and have substantial equity built up.
Lenders require a financial assessment to confirm you can cover property taxes, insurance, and basic upkeep.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in Ojai.
Ojai attracts retirees for good reason. The valley's pace, air quality, and tight-knit community make it a place people stay for decades.
Long-term homeowners here have built serious equity. A reverse mortgage lets that equity work without forcing a sale or a move.
You must be at least 62, live in the home as your primary residence, and have substantial equity built up.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages insured by FHA. That federal backing limits lender risk.
We work with 200+ wholesale lenders. Not all of them price HECM loans the same way. Shopping matters, even on a government product.
The biggest mistake I see: people assume all reverse mortgages are the same. Costs vary. Payout structures vary. Line of credit versus lump sum changes everything.
HUD requires independent counseling before closing. Don't skip it. A good counselor will flag things even experienced brokers miss.
A HELOC gives you equity access too, but requires monthly payments and a solid credit profile. That doesn't work for every retiree.
A reverse mortgage eliminates that monthly obligation. The tradeoff is higher upfront costs and a growing loan balance over time.
Ojai properties often sit on larger lots with older structures. Lenders will require an FHA appraisal, and condition issues can delay or reduce the loan amount.
Some Ojai homes have well water or septic systems. FHA has specific standards for both. Get those inspected before you apply.
No. You keep the title and stay in the home. The loan is repaid when you sell, move out, or pass away.
Your heirs can sell the home to repay the balance or refinance into a traditional mortgage to keep it.
Yes, but the reverse mortgage balance must be paid off first. Whatever equity remains passes to your heirs.
It depends on severity. FHA has minimum property standards. Some repairs can be addressed through a repair set-aside at closing.
It depends on your age, appraised value, and current interest rates. Older borrowers with more equity generally qualify for more. Rates vary by borrower profile and market conditions.
Generally no — it's loan proceeds, not income. Consult a tax advisor to confirm how it applies to your situation.