I’m Michael DiVita — DRE #01372066 | NMLS #241655, DiVita Home Finance (DRE #01818285 | NMLS #323700), Tiburon, CA. I’ve been in California mortgage lending since 2000 and founded DiVita Home Finance in 2007. Age is the defining variable in reverse mortgage qualification — and the rules work more favorably than most California homeowners expect. Call (800) 239-1103.
Age is the single most important factor in reverse mortgage qualification — and it works differently than you might expect. Here’s everything California homeowners need to know about age requirements for HECM and jumbo reverse mortgages.
HECM Minimum Age: 62
The federally-insured HECM (Home Equity Conversion Mortgage) requires all borrowers on the loan to be at least 62 years old. This is a federal requirement that applies in all 50 states, including California.
Jumbo Reverse Mortgage: Some Programs Allow Age 55+
Proprietary jumbo reverse mortgage programs — designed for high-value California homes — may allow borrowers as young as 55. These are not FHA-insured, so they have more flexible rules. If you’re 55–61 with a high-value Bay Area, LA, or coastal California home, a jumbo reverse mortgage may be available to you even before you reach the HECM threshold.
How Age Affects Your Loan Amount
The older you are at the time of application, the more you can borrow. HUD’s Principal Limit Factor (PLF) tables show that a 75-year-old gets a meaningfully higher percentage of their home value than a 62-year-old. Waiting even a few years can significantly increase your available proceeds — a consideration worth modeling before deciding when to apply.
What About a Younger Spouse?
If one spouse meets the age requirement but the other doesn’t, the younger spouse can be designated an Eligible Non-Borrowing Spouse (NBS). Key points: the loan amount is calculated based on the younger spouse’s age (which means lower proceeds), the NBS is not a borrower and does not appear on the loan, and after the borrowing spouse passes away the NBS can remain in the home as long as they continue paying taxes, insurance, and maintenance. The NBS cannot receive additional draws from a line of credit after the borrower dies.
Age Verification Documents Required
To verify age, lenders typically require a government-issued photo ID (driver’s license or passport), a Social Security card, and sometimes a birth certificate. All documents need to be current and legible.
Frequently Asked Questions — Reverse Mortgage Age Requirements California
What is the minimum age for a reverse mortgage in California?
For a HECM (federally-insured reverse mortgage), all borrowers must be at least 62 years old — this is a federal requirement that applies in California and all 50 states. Proprietary jumbo reverse mortgage programs, which are designed for high-value California homes, may be available to borrowers as young as 55. These are not FHA-insured and have different terms than HECM loans. If you’re between 55 and 61 and own a high-value California home, a jumbo reverse mortgage may be worth exploring as an alternative to the HECM program.
Does age affect how much money you can get from a reverse mortgage?
Yes — significantly. HUD’s Principal Limit Factor (PLF) tables assign a higher borrowing percentage to older borrowers. A 75-year-old can access a meaningfully larger fraction of their home’s value than a 62-year-old with the same home and interest rate environment. This is because older borrowers have shorter expected loan lifetimes, reducing the lender’s risk exposure. For California homeowners with substantial equity who are considering a reverse mortgage, waiting even a few years can materially increase available proceeds.
Can a younger spouse stay in the home after the borrower dies on a reverse mortgage?
Yes — if the younger spouse was designated as an Eligible Non-Borrowing Spouse (NBS) at loan origination, they can remain in the home after the borrowing spouse passes away without the loan coming due. The NBS must continue paying property taxes, homeowner’s insurance, and HOA fees, and must maintain the property. This protection was significantly strengthened by HUD rule changes and now provides genuine security for surviving spouses of HECM borrowers. One important caveat: the NBS cannot draw additional funds from a reverse mortgage line of credit after the borrower dies.
Related: California Reverse Mortgage Complete Guide | How Much Can You Get From a Reverse Mortgage?
Talk to Michael Directly
DiVita Home Finance | Tiburon, CA | In lending since 2000, founded DiVita Home Finance in 2007. Michael DiVita DRE #01372066 | NMLS #241655. Company DRE #01818285 | NMLS #323700.
💬 Text: (310) 849-9124
