Stay in the Mission Viejo home you have owned for years.
If you have owned your Mission Viejo home for years and much of your wealth is tied up in it, a reverse mortgage is one way to use that equity without selling. It is not right for everyone, and Doug will say so when it is not.
An established city of long-time owners.
These figures explain why the question is common in Mission Viejo.
- Built 1963 to 1993The Mission Viejo Company built the community over three decades. The city incorporated in 1988 and describes itself as almost completely built out.
- Nearly 1 in 4 residents is 65 or olderAbout 22.7% of roughly 92,000 residents, by the latest Census estimates.
- About 77% owner-occupiedThe median year homes were built is 1979, and about 71% are detached houses.
- Median value near $1.0 millionThe Census median owner-estimated value is about $1,009,600. For 2026 the HECM maximum claim amount, the cap on the home value FHA will count, is $1,249,125. It is not the amount you can borrow.
- Two senior communitiesThe City's housing element names Palmia and Casta del Sol as Mission Viejo's two senior communities.
Sources: City of Mission Viejo: history; Mission Viejo Housing Element (revised draft, September 2021); U.S. Census Bureau profile, American Community Survey 2020–2024 5-year estimates (tables B01003, B01001, B25003, B25077, B25035, B25024); HUD: 2026 FHA loan limits.
What a HECM requires, in plain terms.
These points come from the Consumer Financial Protection Bureau and HUD. The reverse mortgage page goes deeper and has an estimator.
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1
You must be 62 or older
The Home Equity Conversion Mortgage (HECM) is the reverse mortgage insured by the Federal Housing Administration. Doug is a mortgage broker; he is not part of any government agency.
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2
You meet with an independent counselor first
Before you apply, you complete a session with a HUD-approved counseling agency. The counselor does not work for Doug or for the lender.
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3
The home stays your main residence
You keep the title and live in the home. The loan generally comes due when the last borrower dies, sells or moves out for good. A spouse who is not a borrower may be able to stay without repaying it, but only if they qualify as an eligible non-borrowing spouse under HUD's rules and keep meeting the loan's requirements. Qualifying can be difficult, so raise it before you apply.
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You keep paying to own it
There is no required monthly mortgage payment, but you still pay property taxes, homeowners insurance and any association dues, and you maintain the home. Falling behind on those can put the loan in default.
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The balance grows over time
Interest and fees are added to what you owe, so there is less equity left for you or your heirs later. That trade-off is the main thing to weigh.
What to bring to a first conversation.
Doug's office is in Rancho Santa Margarita, which borders Mission Viejo to the north and east, so meeting in person is easy. A reverse mortgage is one of several ways to use your equity, and Doug also arranges conventional loans and lists homes for sale, so the conversation can cover the alternatives.
Your property tax bill
You keep paying property tax with a reverse mortgage, so the size of the bill matters. The Orange County tax bill lookup shows it, including any Mello-Roos charge listed under "Special Assessment Charges".
Your association statement, if you have one
Much of Mission Viejo was built as planned neighborhoods, and the City counts Palmia and Casta del Sol as its two senior communities. If you pay association dues, bring a recent statement: dues are one of the costs you must keep current.
Who is on the title, and who lives in the home
A spouse who is not on the loan, or an adult child who lives with you, changes the picture. Heirs can keep the home by paying off the loan, or sell it and keep what is left, so it helps to include them early.
How long you expect to stay
If a move is likely within a few years, selling may serve you better. Doug can give you a home value estimate and walk through what a sale would involve so you can compare.
Sources: Consumer Financial Protection Bureau: What is a reverse mortgage?; CFPB: what happens to a reverse mortgage when the borrower dies; Mission Viejo Housing Element (revised draft, September 2021); Orange County Treasurer-Tax Collector: Mello-Roos.
Ask Doug about your Mission Viejo home.
A first conversation is free and there is no obligation. Doug will tell you plainly whether a reverse mortgage fits your situation.
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Office
30211 Avenida de las BanderasSuite 200
Rancho Santa Margarita, CA 92688