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Davis has a large retiree population tied to UC Davis. Many own their homes outright or carry minimal mortgage balances.
That built-up equity is a real asset. A reverse mortgage lets homeowners 62+ convert it to cash without selling.
62 years old
Minimum Age
None required
Monthly Payments
HECM (FHA-backed)
Loan Type
Paid off or low balance
Equity Requirement
Yes, before closing
Counseling Required
Reverse Mortgages in Davis
You must be 62 or older and occupy the home as your primary residence. The home must be paid off or have a low remaining balance.
Lenders also require you to stay current on property taxes, homeowner's insurance, and basic maintenance. Fail those and the loan can become due.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in Davis.
Davis has a large retiree population tied to UC Davis. Many own their homes outright or carry minimal mortgage balances.
That built-up equity is a real asset. A reverse mortgage lets homeowners 62+ convert it to cash without selling.
You must be 62 or older and occupy the home as your primary residence. The home must be paid off or have a low remaining balance.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages — backed by FHA. Not every lender offers them. Fewer still specialize in them.
At SRK CAPITAL, we work with 200+ wholesale lenders. We find the ones with the strongest HECM programs and the lowest upfront costs for Davis borrowers.
The biggest mistake I see is borrowers waiting too long. The older you are, the more equity you can access. Starting at 62 gives you options.
Watch the upfront costs — origination fees, FHA mortgage insurance, and closing costs add up. We shop those hard across lenders.
A HELOC gives you a credit line but requires monthly payments. A reverse mortgage doesn't. For fixed-income retirees in Davis, that difference is significant.
Home equity loans also require payments. If cash flow is the problem, a reverse mortgage solves it in a way those products can't.
Davis homes tend to hold value well. Proximity to UC Davis, strong schools, and limited inventory support long-term prices.
That stability matters for reverse mortgages. Lenders base loan amounts on the appraised value. A strong appraisal means more available equity.
No. You stay in your home. The loan only comes due when you sell, move out, or pass away.
Yes, under HUD rules a non-borrowing spouse may stay in the home. Get this reviewed carefully before closing.
It depends on your age, current interest rates, and your home's appraised value. Older borrowers typically qualify for more.
You don't. A HECM stays in place as long as you live there and meet the loan obligations. There's no expiration date.
Generally no — loan proceeds are not considered income. Consult a tax advisor for your specific situation.
Yes. All HECM borrowers must complete HUD-approved counseling before the loan can proceed. It typically takes about an hour.