Find Reverse Mortgage Companies in California

We have put together this page to help seniors in California learn about reverse mortgages, particularly the Home Equity Conversion Mortgage (HECM). CA is the most populous of the 50 states, boasting nearly 40 million people, 10% of whom are over the age of 60. Many of the state’s older homeowners may benefit from a HECM loan.

Want to learn more? Click here to get free information about a CA reverse mortgage!

First, we’ll lay out some questions you should ask yourself before considering a reverse mortgage. Then, you will find:

  1. Local Lenders
  2. HECM Interest Rates
  3. HUD Offices
  4. CA Housing Counselors

Is a California Reverse Mortgage Right For You?

Your personal circumstances are the determining factor of whether it is a good fit. Here’s what we recommend thinking about before shopping for a reverse mortgage.

Examine Your Motivations

In our opinion, the most logical place to start is to pin down why you’re considering a reverse mortgage in the first place. List out your retirement goals and analyze your finances. After you’ve taken this step, you should be better able to answer this crucial question: can a reverse mortgage actually help achieve these goals?

Consider Your Needs

If you’ve decided that a reverse mortgage is suitable for your goals, you’ll need to decide how to take the funds. Here, you have three options:

  • Lump sum
  • Monthly annuity
  • Line of credit

The lump sum is ideal for shorter term purposes such as:

  1. Fixing up or improving your house
  2. Consolidating debt
  3. A need for fast cash

A line of credit, on the other hand, can act as a longer term ‘savings account’ of sorts, giving you access to your home equity if you ever need it later on. The monthly annuity gives you a predictable influx of cash each month to help you meet your expenses.

You can also combine the three options listed above to help you meet your needs. As you can see, a HECM offers CA borrowers a lot of flexibility.

What About Your House?

Your California home itself could influence your decision and will definitely impact your eligibility. The majority of mobile homes do not qualify for the HECM program. You’ll also run into issues if you live on more than 50 acres or on a property of over four units.

Although the HECM program is by far the most popular version of the reverse mortgage loan, you may want to consider a proprietary version in certain circumstances. These include: if your home has a very high appraised value, and if you live in a condo that doesn’t meet the Federal Housing Administration’s guidelines.

You should also think carefully about whether you want to continue living in your current home. Some homeowners decide that this isn’t right for them, often because the home is too big.

Know Your Obligations

As part of taking out a HECM loan, the homeowner must continue to:

  • Pay taxes, insurance, and any HOA fees
  • Maintain the home to FHA standards

You’re already doing these things, but it’s important to remember that you’ll need to continue once you have your reverse mortgage. Thankfully, in 2015 the US Department of Housing & Urban Development began requiring prospective borrowers to undergo a financial assessment to make sure that they can indeed continue to meet these obligations.

Make Sure You Qualify in California

We’ll list the qualifications and you can check them off one by one:

1. You must be at least 62 years of age
2. You must own the home and use it as your primary residence
3. You must have substantial equity in the home, generally around 50%

How Much Are You Eligible to Receive?

An online calculator can give you a good idea – ours does so with minimal personal information, asking only for your age, the age of your spouse (if applicable), your home value and an estimate of prevailing interest rates. Older borrowers, borrowers with more valuable homes, and borrowers taking out the loan when interest rates are lower are eligible to receive more.

You’ll receive the most precise number from contacting a licensed California reverse mortgage lender.

Want to learn more? Click here to get free information about a reverse mortgage!

Largest California Reverse Mortgage Lenders

More HECM loans have been originated in California than in the next two states, Texas & Florida, combined. Because of the enormous market, there is no shortage of lenders offering the product. Below, you will find a list of the largest lenders, along with a list of the largest since 2012, when major players such as Wells Fargo and Bank of America exited the industry.

All Time:

Lender Loans Total Principal Limit
WELLS FARGO 36,137 11,814,037,492
AMERICAN ADVISORS GROUP 14,892 7,212,227,009
FINANCIAL FREEDOM SENIOR FUNDING CORP 8,536 2,280,998,657
GENWORTH FINANCIAL HM EQUITY ACCESS INC 5,762 1,823,800,585
SEATTLE MORTGAGE COMPANY 5,107 1,363,728,477
BANK OF AMERICA 5,082 2,058,458,356
ONE REVERSE MORTGAGE LLC 4,009 1,619,431,440
HIGH TECH LENDING INC 3,479 1,803,488,934
REVERSE MORTGAGE FUNDING LLC 3,325 1,892,585,068
SENIOR FUNDING ASSOCIATES 3,122 1,238,081,914
GENERATION MORTGAGE COMPANY 2,807 895,294,771
REVERSE MORTGAGE SOLUTIONS INC 2,755 1,245,900,728
LIBERTY HOME EQUITY SOLUTIONS INC 2,739 1,193,715,051
SECURITY ONE LENDING 2,730 1,083,933,518
AMERICAN PACIFIC MORTGAGE 2,573 1,121,218,188
FINANCE OF AMERICA REVERSE LLC 2,521 1,239,802,367
OPEN MORTGAGE LLC 2,162 1,058,007,689
METLIFE BANK NATIONAL ASSOCIATION 2,119 870,956,493
LIBERTYSTREET FINANCIAL GROUP 2,044 734,431,628
HOME CENTER MORTGAGE 1,962 611,306,897

Since 2012:

Lender Loans Total Principal Limit
AMERICAN ADVISORS GROUP 14,057 6,911,724,689
REVERSE MORTGAGE FUNDING LLC 3,325 1,892,585,068
HIGH TECH LENDING INC 3,277 1,724,163,351
ONE REVERSE MORTGAGE LLC 2,774 1,187,536,890
REVERSE MORTGAGE SOLUTIONS INC 2,698 1,226,878,198
LIBERTY HOME EQUITY SOLUTIONS INC 2,620 1,143,560,051
FINANCE OF AMERICA REVERSE LLC 2,251 1,149,076,187
SYNERGY ONE LENDING INC. 1,895 994,337,838
AMERICAN PACIFIC MORTGAGE 1,759 846,093,338
OPEN MORTGAGE LLC 1,700 860,639,740

Want to learn more? Click here to get free information about a reverse mortgage in California!

CA Interest Rates

Every month, the HUD publishes data on all of the reverse mortgages that closed two months prior. The data indicate the interest rate on the loan, which is likely the most reliable source for gauging the market. You may not be able to find the exact rate listed here – these are averages after all, and we receive the information on a two month delay – but this table should give you a solid starting point in your search.

Current Rates

Date Fixed Rate Adjustable Rate
2019-01-01 4.75% 5.06%
2019-02-01 4.76% 4.99%
2019-03-01 4.77% 4.88%
2019-04-01 4.71% 4.77%
2019-05-01 4.75% 4.65%
2019-06-01 4.62% 4.58%
2019-07-01 4.65% 4.32%
2019-08-01 4.79% 4.16%
2019-09-01 4.78% 4.01%
2019-10-01 4.55% 4.07%
2019-11-01 4.33% 3.97%
2019-12-01 4.23% 3.90%
2020-01-01 4.33% 3.93%
2020-02-01 4.23% 3.90%
2020-03-01 4.20% 3.82%
2020-04-01 4.17% 3.42%
2020-05-01 4.03% 3.25%
2020-06-01 3.67% 3.10%
2020-07-01 3.52% 2.99%
2020-08-01 3.61% 2.93%
2020-09-01 3.45% 2.90%
2020-10-01 3.39% 2.84%
2020-11-01 3.35% 2.82%
2020-12-01 3.22% 2.74%
2021-01-01 3.25% 2.68%
2021-02-01 3.21% 2.63%
2021-03-01 3.27% 2.50%
2021-04-01 3.27% 2.41%
2021-05-01 3.25% 2.30%
2021-06-01 3.30% 2.20%
2021-07-01 3.27% 2.14%
2021-08-01 3.29% 2.08%
2021-09-01 3.33% 2.15%
2021-10-01 3.27% 2.13%
2021-11-01 3.28% 2.12%
2021-12-01 3.28% 2.21%
2022-01-01 3.34% 2.27%
2022-02-01 3.43% 2.40%
2022-03-01 3.37% 2.73%

Historic Rates

Date Fixed Rate Adjustable Rate
2015-01-01 4.87% 2.86%
2015-02-01 4.94% 2.93%
2015-03-01 4.91% 3.00%
2015-04-01 4.90% 3.11%
2015-05-01 4.89% 3.13%
2015-06-01 4.87% 3.17%
2015-07-01 4.85% 3.24%
2015-08-01 4.89% 3.24%
2015-09-01 4.90% 3.24%
2015-10-01 4.92% 3.26%
2015-11-01 4.88% 3.32%
2015-12-01 4.89% 3.40%
2016-01-01 4.90% 3.51%
2016-02-01 4.90% 3.62%
2016-03-01 4.88% 3.80%
2016-04-01 4.92% 3.91%
2016-05-01 4.89% 4.01%
2016-06-01 4.88% 4.09%
2016-07-01 4.92% 4.14%
2016-08-01 4.91% 4.26%
2016-09-01 4.89% 4.42%
2016-10-01 4.83% 4.49%
2016-11-01 4.87% 4.57%
2016-12-01 4.84% 4.64%
2017-01-01 4.84% 4.67%
2017-02-01 4.81% 4.64%
2017-03-01 4.90% 4.56%
2017-04-01 4.93% 4.48%
2017-05-01 4.91% 4.43%
2017-06-01 4.95% 4.40%
2017-07-01 4.92% 4.41%
2017-08-01 4.92% 4.46%
2017-09-01 4.92% 4.45%
2017-10-01 4.90% 4.48%
2017-11-01 4.94% 4.55%
2017-12-01 4.91% 4.61%
2018-01-01 4.88% 4.64%
2018-02-01 4.84% 4.67%
2018-03-01 4.71% 4.66%
2018-04-01 4.68% 4.74%
2018-05-01 4.64% 4.85%
2018-06-01 4.61% 4.85%
2018-07-01 4.57% 4.84%
2018-08-01 4.63% 4.83%
2018-09-01 4.60% 4.79%
2018-10-01 4.60% 4.81%
2018-11-01 4.67% 4.89%
2018-12-01 4.71% 5.00%

Top Cities by Total HECM Originations

Rank City Zip Total
1 LOS ANGELES 90062 13,702
2 SAN DIEGO 92113 8,880
3 SACRAMENTO 95825 5,150
4 SAN JOSE 95129 3,869
5 RIVERSIDE 92506 3,001
6 OAKLAND 94609 2,917
7 FRESNO 93710 2,794
8 LONG BEACH 90805 2,683
9 BAKERSFIELD 93309 2,651
10 SAN FRANCISCO 94112 2,178
11 OCEANSIDE 92056 2,120
12 PALM DESERT 92260 1,976
13 MODESTO 95350 1,798
14 STOCKTON 95204 1,787
15 HEMET 92543 1,715
16 ANAHEIM 92805 1,685
17 WHITTIER 90604 1,684
18 COMPTON 90220 1,669
19 HUNTINGTON BEACH 92647 1,662
20 SANTA ROSA 95409 1,648
21 SAN BERNARDINO 92405 1,589
22 ROSEVILLE 95661 1,432
23 LINCOLN 95648 1,396
24 MISSION VIEJO 92692 1,325
25 APPLE VALLEY 92307 1,294
26 ESCONDIDO 92027 1,239
27 ORANGE 92667 1,224
28 SANTA ANA 92701 1,222
29 PASADENA 91103 1,175
30 MURRIETA 92562 1,169

Want to learn more? Click here to get free information about a reverse mortgage in California!

Department of Housing and Urban Development Offices

Los Angeles

Serving: Los Angeles, Ventura, Santa Barbara, San Luis Obispo, Mono, Inyo, San Diego and Imperial Counties

AT&T Building
611 West Sixth Street, Suite 801
Los Angeles, CA 90017
(213) 894-8000

San Francisco

Serving: San Francisco, Alameda, Contra Costa, Marin, Napa, San Mateo, Santa Clara, Sonoma, Solano, Santa Cruz, San Benito, Monterey, Del Norte, Humbolt, Mendocino and Lake Counties; Northern 23 California Counties: Alpine, Amador, Butte, Calaveras, Colusa, El Dorado, Glenn, Lassen, Modoc, Nevada, Placer, Plumas, Sacramento, San Joaquin, Shasta, Sierra, Siskiyou, Sutter, Tehama, Trinity, Tuolumne, Yolo, and Yuba Counties; Stanislaus, Madera, Merced, Mariposa, Fresno, Kings, Tulare and Kern Counties in California’s Central Valley

1 Sansome Street, Suite 1200
San Francisco, CA 94104
(415) 489-6771

Santa Ana

Serving: Orange, San Bernardino, and Riverside Counties

34 Civic Center Plaza, Room 7015
Santa Ana, CA 92701-4003
(714) 796-5577

Local California Housing Counselors

You’ll need to complete mandatory counseling before finalizing your CA HECM loan, either over the phone or in person. Here is a directory of counselors in California:

VENTURA COUNTY COMMUNITY DEVELOPMENT CORPORATON
2231 STURGIS ROAD, SUITE A
OXNARD, CA 93030-7813
(805) 273-7800
www.vccdc.org

NEIGHBORWORKS ORANGE COUNTY
128 E KATELLA AVE STE 200
ORANGE, CA 92867-4850
(714) 490-1250
http://www.nwoc.org

INLAND FAIR HOUSING AND MEDIATION BOARD
1500 S HAVEN AVE STE 100
ONTARIO, CA 91761-2970
(909) 984-2254
http://www.ifhmb.com

BALANCE – SAN FRANCISCO
1390 MARKET STREET, SUITE 200
SAN FRANCISCO, CA 94102-5404
(800) 777-7526
https://www.balancepro.org/

PROJECT SENTINEL
554 VALLEY WAY
MILPITAS, CA 95035-4106
(408) 470-3730
http://housing.org/

CREDIT.ORG – RIVERSIDE
4351 LATHAM ST
RIVERSIDE, CA 92501-1749
(866) 896-7965
http://www.homeownership.org/

CREDIT.ORG – HEMET
1555 WEST FLORIDA AVE. HEMET, CA 92543
HEMET, CA 92543-3814
(855) 736-7782
http://www.homeownership.org/

CREDIT.ORG – LADERA
555 CORPORATE DR STE 110
LADERA RANCH, CA 92694-2177
(844) 263-9857
http://www.homeownership.org/

NEIGHBORHOOD PARTNERSHIP HOUSING SERVICES, INC.
9551 PITTSBURGH AVE
RANCHO CUCAMONGA, CA 91730-6008
(909) 988-5979
http://nphs.info

MONEY MANAGEMENT INTERNATIONAL – CAMARILLO, CA
80 N WOOD RD STE 200
CAMARILLO, CA 93010-8311
(805) 383-7700
http://www.surepath.org

CLEARPOINT CREDIT COUNSELING SOLUTIONS – COMMERCE BRANCH
6055 E WASHINGTON BLVD SUITE 390
COMMERCE, CA 90040-2449
(877) 877-1995
http://www.clearpointccs.org

CLEARPOINT CREDIT COUNSELING SOLUTIONS – GRANADA HILLS BRANCH
16800 DEVONSHIRE ST SUITE 301
GRANADA HILLS, CA 91344-7403
(877) 877-1995
http://www.clearpointccs.org

CLEARPOINT CREDIT COUNSELING SOLUTIONS – GLENDALE BRANCH
200 N MARYLAND AVE STE 102
GLENDALE, CA 91206-4275
(877) 877-1995
http://www.clearpointccs.org

GUIDEWELL FINANCIAL SOLUTIONS – WEST COVINA
1050 LAKES DR SUITE 225
WEST COVINA, CA 91790-2924
(323) 637-0847
http://www.cccsmd.org

NAVICORE SOLUTIONS- SAN DIEGO, CA
3530 CAMINO DEL RIO N SUITE 110
SAN DIEGO, CA 92108-1743
(619) 296-4700
http://www.navicoresolutions.org

NATIONAL ASSOCIATION OF REAL ESTATE BROKERS-INVESTMENT DIVISION, INC
7677 OAKPORT STREET, SUITE 1030, 10TH FL
OAKLAND, CA 94621-1929
(510) 268-9792
https://www.nidhousing.com/

HOMETOWN COMMUNITY DEVELOPMENT CORP, DBA HOMESTRONG USA
8711 MONROE CT STE A
RANCHO CUCAMONGA, CA 91730-4898
(877) 647-8764
http://www.homestrongusa.org

Want to learn more? Click here to get free information about a reverse mortgage!