This article will explain the age requirements for reverse mortgages in California, how they affect your borrowing power, and what options are available if you or your spouse are below the minimum age. Meeting the minimum age requirement is the first step to qualifying for a reverse mortgage in California.

Presented by John Correll who is a CRMP (Certified Reverse Mortgage Professional) in California. John and Accurate Reverse Mortgage are licensed to provide reverse mortgage services across the entire great state of California. You can reach John directly at (619) 294-9820 or (888) 603-1550.

Reverse Mortgage Age Requirements: What You Need to Know

A reverse mortgage can be a powerful financial tool for California homeowners looking to access their home equity while eliminating monthly mortgage payments*. However, to qualify, the reverse mortgage borrower must meet the minimum age requirement. Understanding how this works—and how it affects your loan options—can help you determine if a reverse mortgage is right for you.

How Old Do You Have to Be for a Reverse Mortgage in California?

For an FHA-insured Home Equity Conversion Mortgage (HECM), the minimum age is 62. At least one borrower must meet this requirement to qualify. This is the most widespread and popular type of reverse mortgage.

For proprietary (jumbo) reverse mortgages, which cater to California’s high-value homes, some lenders allow borrowers as young as 55, depending on program guidelines and state regulations. These types of reverse mortgages allow for larger loan amounts up to $4 million and also could work for borrowers who’s home does not qualify for a HECM.

*Reverse Mortgages do not have a monthly mortgage payment requirement – but they still require the homeowner to keep paying their own property taxes, homeowners insurance bills and home maintenance costs.

Why Does California Have an Age Requirement for Reverse Mortgages?

Reverse mortgages are designed as retirement-focused financial solutions, allowing older homeowners to convert home equity into cash without monthly mortgage payments.* The age restriction ensures that these loans serve their intended purpose—helping retirees improve their financial security.

Additionally, lenders calculate loan amounts based on life expectancy, meaning younger borrowers receive less upfront than older borrowers to ensure the loan remains viable over time.

How Does Age Affect the Reverse Mortgage Loan Amount?

The older you are, the more home equity you can access through a reverse mortgage. Loan amounts are determined by:

• The age of the youngest borrower
• Current interest rates
• Your home’s appraised value
• FHA loan limits (for HECMs) or lender guidelines (for jumbo reverse mortgages)

For example, a 62-year-old homeowner in Los Angeles, San Diego, or San Francisco will qualify for a smaller loan than a 75-year-old with the same home value.

Can I Get a Reverse Mortgage If My Spouse Is Younger Than 62?

If one spouse is 62 or older and the other spouse is under 62, the younger spouse cannot be a borrower on an FHA HECM reverse mortgage but may be eligible as a non-borrowing spouse. This status allows them to stay in the home if the older spouse passes away, as long as certain requirements are met. Proprietary reverse mortgages in California may have different guidelines, with some programs permitting younger spouses to be co-borrowers and the min age on proprietary reverse mortgages is 55.

Is a Reverse Mortgage the Right Choice for You?

If you’re 62 or older (or 55+ for some proprietary programs) and own a home in California, a reverse mortgage could help you eliminate monthly mortgage payments*, supplement your retirement income, or access extra cash for financial security. With California’s high property values, many homeowners may qualify for significant loan amounts.

*PLEASE NOTE: While a reverse mortgage does not have a monthly mortgage payment requirement like most traditional reverse mortgages do – the reverse mortgage borrower/homeowner will need to pay ongoing expenses like their property taxes, homeowners insurance bills plus home maintenance costs. Additionally, there is an occupancy requirement that at least one borrower must continue to live in the home as their primary residence during the life of the reverse mortgage.

Before deciding, consult a Certified Reverse Mortgage Professional (CRMP) to review your options and ensure a reverse mortgage aligns with your long-term financial goals. John Correll is a CRMP and assists clients across all of California.

John Correll is a CRMP in California and has over 25 years mortgage experience.

Get Started Today: Call (888) 603-1550

I hope you found this information helpful. Choosing the right professional for your reverse mortgage is an important decision. I would be honored to earn your trust and provide exceptional service—from our first conversation through closing and beyond. I invite you to give me a call.

-John Correll, CRMP 

California Certified Reverse Mortgage Professional

(619) 294-9820  |  (888) 603-1550

Accurate Reverse Mortgage Corp.

4025 Camino Del Rio S., Suite 339 San Diego, CA 92108

Licensing Info:

NMLS # 2484031, 1004396 CA Bur Real Estate Broker # 02214678, 01353015

Choose Accurate Reverse Mortgage Corp as Your Trusted Reverse Mortgage Partner

Proudly Serving Homeowners Across California

Additional Reverse Mortgage Resources in California

• California Reverse Mortgage Application Process
• Pros and Cons of a Reverse Mortgage in California
• Understanding a Reverse Mortgage Line-of-Credit in California
• 20 Reasons People Have Chosen a Reverse Mortgage in California
• How a Reverse Mortgage Can Cover the Costs of In-Home Care in California

• Understanding Reverse Mortgage Age Requirements in California
• Paying Off Hero or Pace Loans in California with Reverse Mortgages
• Ten Potential Benefits of Reverse Mortgages that California Homeowners Should Know About
• Choosing the Right Reverse Mortgage Lender or Broker in California
• Inflation in California and the Role of Reverse Mortgages