Do I still own my home with a reverse mortgage?

Yes. The borrower keeps title to the home. The lender records a lien, exactly as with a traditional mortgage, and does not take ownership.

Do I have to make a monthly mortgage payment?

No monthly mortgage payment is required while you live in the home as your primary residence and keep property taxes, homeowners insurance, HOA dues, and maintenance current. Those obligations continue for the life of the loan.

What happens to my heirs?

Heirs can keep the home by repaying the loan balance, often by refinancing, or they can sell it and keep any remaining equity. HECMs are non-recourse, so neither the borrower nor the heirs owe more than the home's value at repayment.

When does a reverse mortgage become due?

The loan becomes due and payable when the last borrower permanently leaves the home through sale, a permanent move, or death, or if loan obligations such as property taxes, insurance, and primary residency are not met.

Is a reverse mortgage a government loan or benefit?

No. It is a loan that must be repaid. HECMs are insured by the FHA, a government agency, but the loan is made by a lender and is not a government grant or benefit.

Is HUD-approved counseling required?

Yes, for a HECM. An independent HUD-approved counselor reviews the program, its costs, and alternatives with you before an application can proceed. Counseling is available by phone or in person.

What will my rate and costs be?

Rates, fees, and available proceeds depend on your age, home value, program, and current market rates, so they are not published. Call Living62 at (916) 624-0767 for figures specific to your situation.

Which areas does Living62 serve?

Living62 works with homeowners in California, Idaho, Texas, Tennessee, Georgia, Oklahoma, and Colorado. In Texas, both spouses generally must be 62 or older.

It sounds too good to be true — how does this work?

A reverse mortgage, or HECM (Home Equity Conversion Mortgage), is a federally insured loan that lets you tap the equity you've built in your home. Instead of paying the lender each month, the lender pays you — as a lump sum, monthly advances, a line of credit, or a combination. The balance is repaid when the last borrower sells, moves out, or passes away.

Will the bank own my home?

No. The bank does not take ownership — it simply extends a loan. You keep the title, continue to own and live in your home, and remain responsible for property taxes, insurance, and any HOA fees.

Do my children or family lose their inheritance?

No. Your heirs inherit the home after the last borrower passes away. They may keep it by paying off the reverse mortgage balance, or sell it and keep any remaining equity after the loan is repaid. Because a HECM is non-recourse, they will never owe more than the home is worth.

If I have an existing mortgage, can I still get a reverse mortgage?

Yes. Many homeowners use a reverse mortgage to pay off their existing mortgage and eliminate the monthly payment. In many cases there is a line of credit left over as well.

How much equity might I be able to use?

The amount depends on the age of the youngest borrower, your home's appraised value (up to the FHA lending limit), and current expected interest rates. For example, a 74-year-old at a 6.75% expected rate might have an estimated amount of roughly 40% of the home's value before costs and any mortgage payoff. Older borrowers generally have larger estimated amounts.

Do I need to be in financial hardship to use a HECM?

No. That is a common misconception. Many affluent homeowners and financial planners use a HECM strategically to protect savings, manage taxes, or establish a growing line of credit for the future.

Are there restrictions on how I can spend the money?

Once any existing mortgages or liens are paid off, there are no restrictions. Homeowners commonly use proceeds for medical bills, in-home care, home improvements, travel, debt consolidation, or simply to supplement retirement income.

A married couple in their early seventies sitting together on the front porch of their home

For homeowners 62 and older · Rocklin, California

Still paying a mortgage in retirement?

See if a reverse mortgage can pay it off and leave you with no monthly mortgage payment. You keep the title. You keep living there. This takes about 2 minutes, and it is not an application.

See if my payment can stop Call Eli’s team: (916) 624-0767

No monthly mortgage payment while you live in the home as your primary residence, keep property taxes, homeowners insurance, and HOA dues current, and maintain the home.

NMLS #132263
A licensed specialist calls you back
Most calls take 15 minutes

Stay in Your Home

You keep the title and keep living in the home you love.

Access Your Equity

Turn part of the value you built over decades into usable funds.

No Monthly Mortgage Payments*

Free up monthly cash flow. Taxes and insurance can even be paid from a loan set-aside.

Built for Security

FHA-insured, non-recourse, with independent HUD counseling required.

*No monthly mortgage payment is required while you live in the home as your primary residence, keep property taxes, homeowners insurance, and HOA dues current, and maintain the home. Proceeds are generally not taxable income — confirm with a tax professional.

NMLS #132263

CDL Mortgage Presents Living62. You can verify the license.

People, not a call center

Eli, Andy, Zach, or Nate in Rocklin call you back.

HUD counseling required

Independent counseling is part of every HECM.

No application on this step

No Social Security number. No obligation.

Andy, reverse mortgage specialist — Andy

Zach, reverse mortgage specialist — Zach

Nate, reverse mortgage specialist — Nate

Real people in Rocklin

Talk to Eli, Andy, Zach, or Nate.

They will answer in plain English and run real numbers for your home. No call center. No script.

Talk to a person in Rocklin — (916) 624-0767

Free. No application. Most calls take 15 minutes.

A Guided, Unhurried Process

How a Reverse Mortgage Works

Six clear steps, with independent counseling built in. You are never rushed and never left guessing.

Education
We review your home, your goals, and your options — and give you a written proposal. No cost, no obligation.
HUD Counseling
You meet with an independent HUD-approved counselor who confirms you understand the costs and obligations.
Application
You sign the application and provide your documents: ID, income records, insurance, and property tax bills.
Appraisal
An FHA appraisal establishes your home’s value while title work and the financial assessment are completed.
Closing
You review and sign the final documents. Refinances include a 3-business-day right to cancel.
Servicing
Funds are disbursed the way you chose. You receive statements and yearly occupancy certifications.

Get my estimate (916) 624-0767

Understand Your Options

Three Paths Built Around Different Goals

Your age, home value, state, existing mortgage, and plans for the property determine which path fits.

HECM Reverse Mortgage

For homeowners age 62 and older

The FHA-insured reverse mortgage: convert part of your equity into a lump sum, monthly advances, or a line of credit that grows over time — while you keep the title and stay in your home.

See if my mortgage payment can stop

HECM for Purchase

For buyers age 62 and older who are moving

Combine a down payment (typically 40–60%, depending on age) with a reverse mortgage to right-size, relocate, or move closer to family with no monthly mortgage payment.*

See what home I could buy with no monthly payment

Jumbo / Proprietary Reverse

For higher-value homes, age 55+ where available

Non-FHA programs with loan amounts up to $4 million and no FHA mortgage insurance premium. Minimum age is 55 in most states (60 in LA and NJ; 62 in Texas and Utah) and availability varies.

Check a higher-value home, age 55+ where available

*Borrowers must live in the home as their primary residence, keep property taxes, insurance, and HOA dues current, and maintain the home.

Flexible Proceeds

Choose How Your Funds Work

Payout choices depend on whether the loan has a fixed or adjustable rate. We help compare immediate needs with future access to equity.

Line of credit

Draw only when you need it. The unused portion grows every month at the same rate interest accrues — and it cannot be frozen or reduced like a HELOC while you live in the home as your primary residence, keep property taxes, homeowners insurance, and HOA dues current, and maintain the home.

Monthly advances

Tenure payments for as long as you live in the home, or larger term payments for a set number of years.

Lump sum

Cash at closing — often used to pay off an existing mortgage. In the first year you can access the greater of 60% of your principal limit or your mandatory obligations plus 10%.

A combination

Pay off your mortgage, take some cash, and keep a growing line of credit in reserve — adjustable-rate HECMs let you change the plan later.

Myths and Facts

What People Get Wrong About Reverse Mortgages

Myth: The bank owns your home.

Fact: You keep the title. A reverse mortgage is a loan secured by the home — you remain the owner and can sell at any time. Your heirs inherit the home after you pass, and they can keep it by paying off the loan balance or sell it and keep any remaining equity.

Myth: Your heirs are personally liable for the balance.

Fact: A HECM is non-recourse. When the home is sold to repay the loan, neither you nor your estate owes more than the home is worth. Heirs may also keep the home by paying off the balance.

Myth: It affects Social Security and Medicare.

Fact: Proceeds are loan advances, not income, so they generally do not affect Social Security or Medicare. Needs-based programs such as Medicaid or SSI can be affected — confirm with your advisor or tax professional.

Prefer to Learn at Your Own Pace?

Our Learning Center explains reverse mortgages in plain English — eligibility, payout options, your responsibilities, and what it means for your family. No sign-up required.

Visit the Learning Center

Free estimate · not an application

Get your equity estimate

About 2 minutes
No Social Security number on this step
A person in Rocklin calls you back
You keep the title

A couple in their late sixties reviewing paperwork together at their kitchen table

Rather talk it through?

Talk to Eli, Andy, Zach, or Nate — (916) 624-0767

Licensed mortgage professionals · Rocklin, California · most calls take 15 minutes

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What matters most to you?

This is not a loan application. No obligation. No Social Security number on this step.

By submitting, you agree that CDL Mortgage Presents Living62 may contact you by phone, text, or email about reverse mortgage options. We never sell your information.