How much you can borrow with a reverse mortgage in California depends on key factors, including your age, the interest rate on your loan, and your home’s value. You have three primary options for receiving your funds: a line of credit, monthly payouts, or a lump sum payout. Understanding Your Borrowing Limit Your borrowing limit, […]
Understanding Reverse Mortgages in California A reverse mortgage allows California homeowners to convert home equity into cash, providing financial flexibility during retirement. Unlike traditional mortgages, where you make payments to a lender, in a reverse mortgage, the lender pays you. The main types of reverse mortgages include: Home Equity Conversion Mortgages (HECMs) – Federally insured […]
