Calculator - Reverse Mortgage California

The reverse mortgage calculator built for California homeowners 55 and over

Compare HECM, HomeSafe, and Choice Fixed Max side-by-side. See exactly how much you can receive, your cash at closing, and your line of credit — in under 60 seconds. No SSN. No credit check. No obligation.

3Programs compared

<60sTo your estimate

23+Years specialist experience

$0Cost. Ever.

Three programs. One side-by-side estimate.

Most California homeowners qualify for more than one reverse mortgage program. Our calculator returns every option you're eligible for so you can see the difference in real numbers — not pick blindly from a menu.

FHA-insured

HECM

Home Equity Conversion Mortgage

The federally insured reverse mortgage. Variable and fixed-rate options. Subject to the FHA lending limit ($1,209,750 in 2025). Requires HUD counseling.

Min age: 62
Insurer: FHA / HUD
Best for: 62+ borrowers, homes up to $1.2M

Proprietary jumbo

HomeSafe

Available from age 55

Proprietary (non-FHA) reverse mortgage with no FHA loan limit. Built for higher-value California homes and borrowers who don't yet qualify for HECM.

Min age: 55
Loan limit: None (jumbo)
Best for: 55–61, or homes above $1.2M

Proprietary fixed

Choice Fixed Max

Highest funds for paying off a balance

Proprietary fixed-rate program. Often delivers the largest available funds when there is an existing mortgage to retire — frequently the winning option for 55+ homeowners with a current loan.

Min age: 55
Rate type: Fixed
Best for: 55+ with existing balance to pay off

Six short steps. Most people finish in under a minute.

The longest part is typing your address. We use it only to confirm California eligibility — never shared, never sold.

Enter your home's estimated value

A round figure is fine. Your Zillow Zestimate or Redfin estimate works.

Enter your current mortgage balance

If you own outright, enter $0.

Tell us if you own jointly or alone

If joint, the calculator uses the younger borrower's age (industry standard).

Enter your date of birth

Three dropdowns — month, day, year.

Enter your property address

Used only to confirm California eligibility.

Verify your phone number

A 6-digit code by text. Used only to save your estimate and email your PDF — we don't call unless you click "Request a callback."

What does "shortfall" mean on my estimate?

A shortfall means the reverse mortgage's available funds — after closing costs — fall short of your existing mortgage balance. To proceed, you would need to bring the difference to closing in cash. Our calculator displays the smallest possible gap and shows exactly how much you would need to bring.

Common reasons for a shortfall:

Home value is lower than the existing balance

Borrower age is closer to the program minimum (younger borrowers receive less)

Current interest rates reduce the principal limit available to you

A shortfall is not a "no." Many borrowers bring the gap from savings, reduce their existing balance first, or revisit in a year as values, rates, or age change in their favor. A specialist can walk through your specific options at no cost.

Everything California homeowners ask about reverse mortgages.

If you don't see your question here, call George directly at (909) 642-8258. No script, no sales pitch — straight answers.

What is a reverse mortgage?

A reverse mortgage is a home loan available to homeowners age 55 or older that converts a portion of home equity into cash, a line of credit, or eliminates the existing monthly mortgage payment. The borrower keeps title to the home. The loan is repaid when the home is sold, the borrower moves out, or the last borrower passes away.

Do I need to make monthly payments?

No. A reverse mortgage replaces your existing mortgage payment with no required monthly payment for as long as the home remains your primary residence and you stay current on property taxes, homeowners insurance, and HOA dues.

Will I lose my home?

No. You keep title to the home. The loan becomes due when you sell, move out permanently, or pass away. Your heirs may keep the home by paying off the loan balance (or 95% of appraised value, whichever is less) or sell the home and keep any remaining equity.

What happens to my heirs?

When the loan becomes due, your heirs have several options: pay off the balance and keep the home, sell the home and keep any remaining equity, or sign the home over to the lender if the balance exceeds the home's value. FHA HECM is a non-recourse loan — heirs and estate are not personally liable beyond the home itself.

How much does a reverse mortgage cost?

Closing costs typically include an origination fee, FHA mortgage insurance premium (HECM only), title and escrow fees, and counseling. Most fees can be financed into the loan rather than paid out of pocket. The available funds shown in your estimate are net of these costs.

Do I need good credit or a high income?

Reverse mortgages don't require minimum income or credit scores the way forward mortgages do. The lender performs a Financial Assessment to confirm you can sustain ongoing property charges, but credit history is not a primary qualification factor.

Can I be denied for having an existing mortgage?

No. Most reverse mortgage borrowers use the loan to pay off their existing mortgage. As long as the available reverse mortgage funds cover the existing balance plus closing costs, the loan proceeds. If they don't, the calculator displays this as a shortfall.

Is the estimate from this calculator the same as a loan offer?

No. The figures are an estimate for informational purposes only. A licensed specialist verifies your home value via appraisal, confirms program eligibility, and produces a formal Good Faith Estimate before any application. The calculator's numbers are typically within a few percent of the final figures.

George Foury walks you through every number.

My job is to make sure you understand exactly what each program offers and what it costs — including the option that says wait a year. If a reverse mortgage isn't the right fit, I'll be the first one to tell you.

Specialist NMLS

#365129

Serving since

2003

Direct line

(909) 642-8258

george@m.reversemortgagecali.com