Best Reverse Mortgage Lenders in California 2026: Top 6
Patricia Williams
California Reverse Mortgage Expert | 21+ Years Experience
January 23, 2026
Looking for the best reverse mortgage lenders in California? California seniors (62+) can access $200K-$500K+ in home equity without monthly payments. These 6 lenders offer the best rates and terms in CA.
$1.15M
CA HECM Limit
$350K
Avg Available
62+
Min Age
$0
Monthly Payment
🏆 Top 6 Reverse Mortgage Lenders California 2026
AAG (American Advisors Group) - Best Reverse Mortgage CA
18,000+ CA HECM loans
Why #1:
- 🏆 #1 reverse mortgage lender in America
- 💰 Highest payout rates in CA
- ⚡ Close in 45 days average
- 📍 Dominant in LA, San Diego, Bay Area
- 🎯 Free in-home counseling
Best For:
CA seniors 62+ who want maximum equity access
💰 How Much Can You Get? CA Reverse Mortgage Calculator
| Age | Home Value | Available Equity | % of Value |
|---|---|---|---|
| 62 | $800,000 | $280,000 | 35% |
| 70 | $800,000 | $360,000 | 45% |
| 75 | $800,000 | $400,000 | 50% |
| 80 | $800,000 | $440,000 | 55% |
✅ California Reverse Mortgage Requirements 2026
Basic Requirements
Age:
62+ (all owners must be 62+)
Home Equity:
50%+ equity recommended
Primary Residence:
Must live in home as primary
Property Type:
Single-family, 2-4 unit, condo, townhome
Financial Requirements
Credit:
No minimum credit score
Income:
No income requirement
Property Taxes:
Must stay current
Home Insurance:
Must maintain insurance
❓ FAQ: California Reverse Mortgage 2026
How much can I get with a reverse mortgage in California?
Amount depends on 3 factors:
- Age: Older = more equity (62 = 35%, 80 = 55%)
- Home value: Up to $1,149,825 (CA high-cost limit)
- Interest rates: Lower rates = more equity
Example: 70-year-old with $800K home
- Available equity: $360,000 (45%)
- Can take as lump sum, line of credit, or monthly payments
Do I have to pay back a reverse mortgage in California?
Loan becomes due when:
- You move out permanently
- You sell the home
- The last borrower passes away
- You fail to pay property taxes or insurance
Repayment options:
- Heirs can pay off loan and keep home
- Heirs can sell home and keep remaining equity
- Heirs can walk away (no debt passed to heirs)
You NEVER owe more than home value (non-recourse loan)
What are the downsides of a reverse mortgage?
Potential downsides:
- High fees: 2-5% of home value in closing costs
- Reduces inheritance: Less equity for heirs
- Must maintain home: Pay taxes, insurance, repairs
- Compound interest: Loan balance grows over time
- Could lose home: If you don't pay taxes/insurance
Best for: Seniors who plan to stay in home long-term and need income