Reverse Mortgages

LENDERLINE® is currently offering reverse mortgages under the following guidelines.

  • The property must be located in the State of California.
  • One borrower must be at least 62 years old.
  • No repayment required as long as you use the property as your primary residence.
  • Use loan proceeds for any purpose.
  • Condos/PUDs must be FNMA-approved, look up here.

What is a reverse mortgage? A reverse mortgage, also known as a HECM loan, is a mortgage that does not require monthly payments for as long as you occupy the subject property.

There are several reverse mortgage options available, including:

  • Tenure. Fixed monthly payments for as long as you live in your home as your primary residence. The amount received each month will not change, even if the home decreases in value.
  • Term. Fixed monthly payments for a specific period of time. For example, a borrower is 65 and wishes to defer collecting Social Security until age 72 to receive maximum benefits, so the borrower establishes a term payment for 7 years. The amount received each month will not change, even if the home decreases in value.
  • Line of Credit. A standby line of credit that is accessed when funds are needed. An important feature of the line of credit is that the unused portion grows over time. The borrower is not earning interest, like with a checking account. Rather, the growth feature takes into consideration that you are one year older and that your home has appreciated in value.
  • Single Disbursement Lump Sum. A one-time lump sum payment is made to the borrower. If the borrower wants more money at a later time, he or she will have to refinance and get a new reverse mortgage.
  • Modified Tenure / Line of Credit. Under this option, the borrower establishes a line of credit and receives fixed monthly payments for as long as they live in the home as their primary residence.
  • Modified Term / Line of Credit. Under this option, the borrower establishes a line of credit and receives fixed monthly payments for a specific period of time.
  • Purchase. The new home is purchased using funds from the sale of another home, savings, gift funds or other assets, which are combined with the reverse mortgage. This leaves you with no monthly mortgage payment.

Ask about our no closing cost option.

For more information about reverse mortgages click here to visit the Fannie-Mae information page. To use the HUD website to find a reverse mortgage (HECM) counselor near you, click here.

To download underwriting guidelines
for our reverse mortgage
loan program:

To download a loan application
for our reverse mortgage
loan program:

LENDERLINE® is your reverse mortgage lender of choice.

Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.

  • Obtaining a mortgage through Lenderline was by far the best loan process we have ever experienced.

    Jay M.

    Northridge, CA

  • We have purchased and/or refinanced 4 rental properties and 3 different residences... In all those years, we have never dealt with such a professional broker.

    Toni M.

    Westlake Village, CA

  • Lenderline got us a cash-out refinance using 24 months bank statements as income, no tax returns, no 1099, and no 4506-T. They had just the loan product we were looking for, their rates were good, and their attention to detail was outstanding. I have already referred some of my friends.

    Thomas J.

    Perris, CA

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    Hector R.

    Northridge, CA

  • I had no FICO scores, and Lenderline was able to get me an FHA loan with only 3.5% down. My mortgage payment is less than my rent was, and I am now a happy homeowner thanks to the awesome loan agents at Lenderline.

    Edwin D.

    Los Angeles, CA

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