Your home equity, working for you in retirement.
For Orange County homeowners 62 and older: convert part of your home's equity into cash, eliminate your monthly mortgage payment, or set up a line of credit you can draw on for years — without selling your home.
You keep your home
Your name stays on the title. You can live in your home as long as you want — as long as you keep it as your primary residence, maintain it, and stay current on property taxes, homeowners insurance, and any HOA dues.
No monthly mortgage payments
If you have an existing mortgage, a reverse mortgage pays it off so that monthly payment goes away. The reverse mortgage itself is repaid later — when you sell, move out, or pass away — not from your monthly budget. Property taxes, insurance, and HOA dues are still your responsibility.
Multiple ways to receive funds
Take a lump sum, set up monthly payments to yourself, open a line of credit that grows over time, or combine these options based on what works for your situation.
FHA-insured protection
Federally insured through HUD's Home Equity Conversion Mortgage (HECM) program. Because HECMs are non-recourse loans, you or your heirs will never owe more than the home is worth at the time of repayment — even if its value declines. If the sale falls short, FHA insurance covers the difference.
See what you might qualify for.
This calculator gives you a ballpark estimate based on the inputs you provide. The actual amount depends on additional factors a lender reviews — but this is a useful starting point for thinking about whether a reverse mortgage makes sense for you.
Must be at least 62 years old. If married, we use the age of the youngest borrower.
Approximate current market value. We'll get a formal appraisal during the application.
If you still owe on a mortgage, the reverse mortgage will pay it off first.
This is an estimate only. Final loan amounts depend on appraised value, current interest rates, FHA lending limits, and additional underwriting requirements. Doug will provide a detailed personalized estimate during your free consultation.
The reverse mortgage process, step by step.
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1
Free consultation with Doug
We talk through your situation — your goals, your timeline, your concerns, your family considerations. No commitment, no pressure. Most clients spend 30–45 minutes on this first call. Doug will tell you honestly whether a reverse mortgage even makes sense for you.
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2
HUD-required counseling session
Federal law requires you complete an independent counseling session with a HUD-approved counselor before applying. This is to make sure you fully understand your options. The session typically takes about an hour and costs $125–$200 (sometimes covered by the lender).
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3
Application and home appraisal
Once you decide to move forward, we submit your application and order an FHA-approved appraisal of your home. Doug handles the paperwork. You provide some basic documentation about income, assets, and the home itself.
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4
Underwriting and approval
The lender reviews your application against HUD's eligibility requirements. This typically takes 30–45 days. Doug stays in regular contact throughout, troubleshooting any issues that arise so they don't become delays.
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5
Closing and funding
You sign final loan documents at a closing meeting. Federal law gives you a 3-business-day right of rescission (you can cancel for any reason). After that window, funds are disbursed according to the payment option you chose.
The pros and cons. Both sides.
A reverse mortgage isn't right for everyone. Doug's job is to help you figure out whether it's right for you. Here's an honest look at both sides.
When a reverse mortgage makes sense
- You want to age in place in a home that has significant equity, but cash flow is tight.
- You have an existing mortgage with monthly payments that strain your retirement budget.
- You want a financial safety net — a line of credit you can tap if needed (which actually grows over time, even if you don't use it).
- You have specific expenses coming up — home modifications for aging, medical costs, helping family — and don't want to liquidate other investments.
- You don't plan to leave the home to heirs (or your heirs are financially comfortable and won't need the inheritance).
- You've outlived your retirement projections and need to convert home equity into supplemental income.
When a reverse mortgage may not be right
- You plan to move within a few years. Closing costs are significant; you need time to make the loan worthwhile.
- Leaving the home to heirs is a top priority and they don't have the means to pay off the loan to keep the property.
- You can't keep up with property taxes, insurance, and maintenance. Falling behind on these can trigger loan default.
- Other family members live with you who aren't on the loan — they may not be able to stay in the home if the borrower passes away or moves out.
- You qualify for other programs first. Some clients are better served by Medicaid, property tax deferrals, or state senior assistance programs.
- You're under significant family pressure to take a reverse mortgage. The decision should be yours, made with clear information.
Doug's commitment: If a reverse mortgage isn't right for you, he'll tell you — that's the whole point of the "financial bodyguard" approach. After 30 years in this market, Doug has helped many clients who came in convinced they wanted a reverse mortgage decide on a different path: a HELOC, downsizing to a smaller home, refinancing the existing mortgage, or sometimes just staying put and adjusting their budget. Walking away from a transaction because it's not right for the client is the right outcome too — and it's exactly why his business is almost entirely referral-based after three decades.
Real questions from real Orange County clients.
What is a reverse mortgage, exactly?
A reverse mortgage is a loan available to homeowners 62 or older that lets you convert part of your home's equity into cash. Unlike a traditional mortgage where you make payments to the lender, with a reverse mortgage the lender makes payments (or available funds) to you. The loan doesn't have to be repaid until you sell the home, permanently move out, or pass away.
The most common reverse mortgage is the Home Equity Conversion Mortgage (HECM), which is insured by the Federal Housing Administration (FHA). HECMs have specific consumer protections built in — that's why they're the standard.
Who qualifies for a reverse mortgage?
To qualify for a HECM reverse mortgage, you must:
- Be 62 years of age or older (if married, both spouses must be at least 62, or the younger spouse becomes a "non-borrowing spouse" with specific protections)
- Own the home outright, or have a low enough mortgage balance that it can be paid off with the reverse mortgage proceeds
- Live in the home as your primary residence
- Not be delinquent on any federal debt
- Have the financial resources to continue paying property taxes, homeowners insurance, HOA dues, and home maintenance
The home itself must also meet FHA property standards. Doug can do a quick eligibility check on a free 15-minute call.
How much can I borrow?
The amount you can borrow depends on four factors:
- Your age (or the age of the younger spouse). Older borrowers qualify for more.
- Current interest rates. Lower rates allow you to borrow more.
- The appraised value of your home, capped at the FHA HECM lending limit ($1,209,750 in 2026).
- The specific loan program you choose.
The calculator above gives you a rough estimate. For a precise number, schedule a consultation with Doug — he'll run the actual numbers based on your specific situation.
Will I lose ownership of my home?
No. You retain full title and ownership of your home throughout the life of the loan. The lender places a lien on the property (just like any mortgage), but you remain the owner. You can live there as long as you want, as long as you continue to pay property taxes and insurance and maintain the home.
What happens to my home when I pass away?
When the last borrower passes away or permanently moves out (typically defined as not living in the home for 12 consecutive months), the loan becomes due. Your heirs typically have several options:
- Pay off the loan and keep the home. Heirs can use other funds, refinance the property, or use a portion of their inheritance to satisfy the loan.
- Sell the home and keep any remaining equity. If the home is worth more than the loan balance, the heirs receive the difference.
- Deed the property to the lender (deed in lieu). If the loan balance exceeds the home's value, heirs can simply give the property to the lender with no further obligation. Because HECMs are FHA-insured, the lender absorbs any shortfall.
Heirs typically have 6 months to decide, with two 90-day extensions available if they're actively working to settle the estate.
Are there monthly payments on a reverse mortgage?
No required monthly mortgage payments. That's the defining feature of a reverse mortgage.
However, you must continue to pay:
- Property taxes
- Homeowners insurance
- HOA dues (if applicable)
- Home maintenance and repairs
These are your ongoing responsibilities. Falling behind can put the loan into default. For some borrowers, a portion of the reverse mortgage proceeds can be set aside specifically to cover these costs — Doug can explain how this works during your consultation.
What are the costs and fees?
Reverse mortgage closing costs are typically higher than a traditional mortgage. Costs include:
- Origination fee (capped by HUD)
- FHA mortgage insurance premium (typically 2% of the home value at closing, plus 0.5% annually)
- Appraisal fee ($500–$800 typical)
- Title insurance and other standard closing costs
- Counseling session fee ($125–$200, sometimes covered)
Most of these costs can be financed into the loan rather than paid out of pocket. Doug will provide a written Good Faith Estimate during your consultation so you can see exact numbers for your situation.
Can I use a reverse mortgage to buy a new home?
Yes. The HECM for Purchase program lets borrowers 62 or older buy a new primary residence using a reverse mortgage to finance part of the purchase. You contribute a down payment (typically 40–60% of the purchase price depending on age and other factors) and the reverse mortgage covers the rest. You then own the new home with no required monthly mortgage payment.
This is increasingly popular for retirees right-sizing or relocating. Doug can run the specific numbers for any home you're considering.
How is Doug different from other reverse mortgage lenders?
Three main things:
- 30 years in Orange County. Doug isn't a national call-center loan officer who treats you as a transaction. He lives in the community he serves, has been doing this for three decades, and most of his business comes from referrals from past clients.
- Honest counsel. If a reverse mortgage isn't right for you, Doug will tell you. He's helped many clients realize a different path was better — and that's the right outcome.
- Speed. Doug's process closes most loans significantly faster than the industry average of 40–50 days, thanks to three decades of established lender relationships.