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Costa Mesa Reverse Mortgage

For homeowners 55 and older · Updated August 2026

Costa Mesa homeowners age 62 and older can convert part of their home equity into cash with an FHA-insured reverse mortgage (HECM). There are no monthly mortgage payments, you keep the title to your home, and the 2026 FHA lending limit is $1,249,125. Most borrowers access roughly 35 to 60 percent of their home's value, depending on age and interest rates.

Why Costa Mesa homeowners use reverse mortgages

Costa Mesa’s Eastside cottages and Mesa Verde tracts were working households’ path to the coast, and longtime owners now hold near-coastal values without Newport prices. A reverse mortgage lets them stay a bike ride from the beach while the equity pays them back.

The money is yours to use how you want: paying off an existing mortgage to end the monthly payment, covering in-home care, home repairs, everyday bills, or simply a cushion that lets you stop worrying.

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How it works in Costa Mesa

  1. Free estimate. We run your age and your Costa Mesa home's value through the FHA formula and show you what you could get.
  2. Independent counseling. You meet with a HUD-approved counselor who does not work for any lender. California then gives you a 7-day no-pressure period. Your California protections, explained.
  3. Close and get funded. Any existing mortgage is paid off first, and the rest comes to you: lump sum, monthly payments, or a line of credit. Most loans close in 30 to 45 days.

Costa Mesa details

Costa Mesa reverse mortgage questions

How much can I get from a reverse mortgage in Costa Mesa?
It depends on your age, your home's appraised value, and current interest rates. Most borrowers can access roughly 35 to 60 percent of their home's value, up to the 2026 FHA lending limit of $1,249,125. Older homeowners qualify for more. Use our free two-question estimator for your Costa Mesa home's range.
Do Costa Mesa homeowners keep ownership of their home with a reverse mortgage?
Yes. Title stays in your name, exactly like a regular mortgage. You keep living in your Costa Mesa home as long as you want, provided you stay current on property taxes and homeowners insurance and keep the home maintained.
Where do I get reverse mortgage counseling near Costa Mesa?
Federal law requires a session with an independent HUD-approved counseling agency before you apply. Several agencies serve all of Orange County and most offer sessions by phone, so Costa Mesa homeowners can complete counseling from home. Your lender must give you a list of approved agencies, and California law then gives you a 7-day no-pressure period before any application.

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