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  1. Home
  2. Reverse Mortgages
  3. Reverse Mortgage Loan Programs

Reverse Mortgage Loan Programs

A reverse mortgage can help eligible older homeowners access a portion of their home equity while continuing to live in their home. Depending on the program, funds may be used to pay off an existing mortgage, supplement retirement income, cover major expenses, or create a line of credit for future needs.

Crestico helps homeowners compare reverse mortgage loan programs based on their home, financial situation, and long term goals.

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Reverse mortgage loan programs for homeowners accessing home equity

What Is a Reverse Mortgage?

A reverse mortgage is a type of home loan that allows eligible homeowners to convert part of their home equity into available funds. Unlike a traditional mortgage, borrowers generally do not make monthly principal and interest payments while the loan remains in good standing.

The homeowner remains responsible for meeting the loan requirements, including paying property taxes, homeowners insurance, maintaining the property, and living in the home as required by the loan program.

Who Can Qualify for a Reverse Mortgage?

Reverse mortgage eligibility depends on the specific program and the borrower’s financial and property circumstances.

In general, eligibility may consider:

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The homeowner's age
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Primary residence requirements
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Home equity and property value
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Existing mortgage balance
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Property type
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Financial obligations such as taxes and insurance
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The homeowner's ability to meet ongoing property requirements
A reverse mortgage is generally designed for older homeowners who want to use home equity while continuing to live in their primary residence.

Because qualification requirements vary between programs, speaking with a qualified reverse mortgage professional can help determine which options may be appropriate.

How Can Reverse Mortgage Funds Be Used?

Depending on the reverse mortgage program and the borrower’s circumstances, available proceeds may provide greater financial flexibility.

Homeowners may consider using reverse mortgage proceeds to:

Pay off an existing mortgage

Supplement retirement cash flow

Handle unexpected financial needs

Create a reserve through a line of credit

Support the purchase of a new primary residence through an eligible purchase program

Step 1

Check Eligibility

Step 2

Payment Option

Step 3

Get Approved

Step 4

Close the Loan

Step 5

Repayment & Loan Terms

Reverse Mortgage Loan Programs Available

Crestico offers access to several reverse mortgage options. The right program depends on factors such as your age, home value, property type, existing mortgage balance, and financial objectives.
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FHA Reverse Mortgage

An FHA insured reverse mortgage, commonly known as a Home Equity Conversion Mortgage, or HECM, is one of the most widely recognized reverse mortgage programs.

Eligible homeowners may be able to use a HECM to access home equity while remaining in their home. The available proceeds and loan terms depend on the borrower’s circumstances, the property, and applicable program requirements.

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Proprietary Reverse Mortgage

A proprietary reverse mortgage is a private reverse mortgage program that may provide an alternative to FHA insured options for qualified homeowners.

These programs can be particularly relevant when the homeowner’s property value or financial circumstances make a proprietary reverse mortgage worth considering.

Program availability, eligibility requirements, loan amounts, and terms vary by lender.

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Reverse Mortgage for Purchase

A reverse mortgage for purchase allows an eligible homeowner to purchase a new primary residence using a reverse mortgage.

This option may be useful for homeowners who want to move into a more suitable home while using available assets and proceeds toward the purchase rather than taking on a traditional monthly mortgage payment.

Reverse Mortgage Options for California Homeowners

Crestico works with homeowners seeking mortgage solutions throughout California, including the Los Angeles and Southern California markets.

Reverse mortgage options can vary based on the property location, property type, homeowner’s circumstances, and available lending programs.

Whether you own a single family home, condominium, or another eligible property type, Crestico can help you review available reverse mortgage options and determine what may fit your situation.

Important Reverse Mortgage Considerations

A reverse mortgage is a financial decision that should be evaluated carefully.

Before moving forward, homeowners should understand the costs, interest, loan balance, property obligations, repayment requirements, and potential impact on their financial plans.

A reverse mortgage does not mean the homeowner gives up ownership of the home. However, the homeowner must continue meeting the obligations required under the loan.

The best option depends on your financial goals, home equity, property, and long term plans.

Frequently Asked Questions

What is the main purpose of a reverse mortgage?

A reverse mortgage allows eligible homeowners to access a portion of their home equity while continuing to live in their primary residence, subject to the loan’s requirements.

What types of reverse mortgage programs are available?

Common options include FHA insured reverse mortgages, reverse mortgages for purchase, and proprietary reverse mortgage programs. Eligibility and terms vary by program.

Do I still own my home with a reverse mortgage?

Yes. A reverse mortgage does not transfer ownership of the home to the lender. The homeowner must continue meeting the loan and property obligations.

Can a reverse mortgage pay off my existing mortgage?

Yes. Depending on the program and available proceeds, a reverse mortgage can be used to pay off an existing mortgage as part of the transaction.

How do I find out which reverse mortgage is right for me?

The appropriate program depends on factors such as your age, home value, equity, property type, existing mortgage, and financial goals. A reverse mortgage consultation can help you compare available options.

Turn Your Home Equity into Lasting Financial Freedom

Schedule Your Free Reverse Mortgage Consultation
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In real estate, execution is everything. Having closed numerous transactions, I know firsthand that the right capital partner can make or break a deal. Working with Houtan and the CRESTICO team on our latest LA property reinforced what top-tier lending execution looks like. From initial loan structuring to the final wire at closing, Houtan and his team ran a seamless operation. They managed the complexity behind the scenes, maintained complete transparency, and kept the timeline tight without missing a beat. Buying property in Los Angeles can easily turn into a high-friction process, but their team provided the exact clarity, speed, and diligence required to navigate it smoothly. On a personal level, having known Houtan for years as a friend made the experience even more rewarding. It’s rare to find a team that seamlessly combines deep industry expertise with genuine personal integrity. They treated this transaction with the same care and focus as if it were their own. Whether you’re securing debt for your next investment(s) or purchasing a primary residence, I can’t recommend Houtan and the CRESTICO team highly enough. They are sharp, reliable, and exceptionally dedicated. I look forward to working with them again on future transactions.
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Marisol was extremely helpful and successful in resolving the problems associated with my loan. We are very happy with our new loan.
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They were always available to answer my questions and made the entire process simple and straightforward. I got a great rate and the support I needed to close on time. I wouldn't hesitate to use them again or recommend them to family and friends!
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I couldn't have had a more amazing experience with our realtor - Diane Phillips. Diane is extremely knowledgeable and personable. She got to know me and my...
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I had an amazing experience.I received all the information, support and they were very Knowledgeable of the information that I needed.
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Excellent Mortgage Broker – Highly Recommended! I had an amazing experience working with Houtan and his team at Crestico. From start to finish, not only Houtan himself but his entire team made the mortgage process smooth, stress-free, and efficient. Their knowledge and expertise were evident at every step, ensuring I got the best possible loan terms. Communication was outstanding; Houtan was always available to answer my questions, explain complex details in a way that made sense, and guide me through the entire process with confidence. They were proactive, transparent, and truly had my best interests in mind. If you’re looking for a mortgage broker who is professional, reliable, and dedicated to helping you secure the best financing, I highly recommend Houtan and his team. I couldn’t have asked for a better experience!
Nat Z.
Houtan is a top notch professional. He helped me with my pre-approval and walked me through every step of the loan process. He was extremely responsive, personable, and knowledgeable. He is incredibly reliable and would answer calls or emails within minutes when I had questions. I can't recommend Houtan enough for buying a house. We had been working directly with a large bank on a loan, and all seemed fine until we had an accepted offer, then we started having issue after issue where there was just no sense of urgency. We almost had to walk away from our house, but Houtan and his team were referred to us in mid escrow, helped us explore multiple options in parallel, and close on time. Houtan was very responsive and on top of everything, presented our options very clearly, patient with all our questions, and really understands the Los Angeles housing market.
Nat Z.
Houtan is a top notch professional. He helped me with my pre-approval and walked me through every step of the loan process. He was extremely responsive,...
Nat Z.
Houtan is a top notch professional. He helped me with my pre-approval and walked me through every step of the loan process. He was extremely responsive,...
Niloofar S.
As a first time home buyer, taking out a jumbo loan could’ve been quite scary. But Houtan and his team made it a pleasant experience. An amazing team who are always one step ahead of the process.
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Easy to work with ! Professional people and honest!
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Worked with Houtan. He got our loan closed super fast and got us a rate that was lower than what our bank offered us. I'm very happy with Crestico and i recommend them to anyone.
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Finally a real professional with a heart! Working with Houton makes me feel like having a friend who is on my side, rather than a businessman who is always looking out for #1. He is extremely helpful, knowledgeable, and responsive. He was always happy to explain and strategize with me whenever I needed help. Unlike most realtors and lenders out there who don't want to use their brains and only do easy and mindless paperwork, Houtan has great analytical and investment insights to share with his clients. I wholeheartedly recommend him to anyone who values the rare combo of both thoughtfulness and top-notch expertise.
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Thank you Houtan and the entire team for going above and beyond every single time. From the onset, you guys gather whatever is necessary to get the job done as quickly and efficiently as possible, always keeping constant communication. My rate and fees are disclosed and never change at the time of signing.
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These guys were a godsend when searching for a home loan. I was first time home buyer and they helped out with the entire process. Everything from the customer service to making sure I was informed for every step of the process was handled exceptionally. I am absolutely ebullient with Houtan and his entire team have given me, and helping me transcend into the status of homeowner.
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I have been working with Houtan for over 10 years. He and his office have always been great to work with. Excellent communication and great work ethic. I will definitely be back for my other mortgage needs in the near future.
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I want to express my gratitude to Houtan and his team. Houtan is extremely knowledgeable and really takes the time to answer any questions that you have. He wants the best for his clients and I would recommend him to anyone.
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I want to take a moment to express my gratitude for Houtan Hormozian and the exceptional service he provided in helping me secure a loan. From our very first conversation, he was attentive, understanding, and incredibly knowledgeable about the lending process. He took the time to explain all the details, answered all my questions patiently, and worked tirelessly to find the best options tailored to my needs. His professionalism and dedication made what could have been a stressful experience into one that was smooth and straightforward. Thanks to Houtan Hormozian, I was able to secure the financing I needed, and I couldn't be happier with the outcome. I highly recommend him to anyone in need of lending services. His commitment to his clients is truly commendable!
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We did a lot of research before settling on Houtan - and he has been a great find. He has helped us with our home purchase, and several refinances since then. As we look into purchasing rental properties, he is always available to answer questions and explain things in terms that non-brokers can understand. He is, and will always be a part of our investment team.
Sean L.
Houtan and His team are great. He got me a great rate and funded my loan before my escrow closing date. A ++
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