What is the minimum age for a reverse mortgage in Long Beach?

HECM loans require the youngest borrower to be at least 62. California's Reverse 55+ program is available to eligible homeowners as young as 55. David can help you determine which program fits your age and home value.

My Long Beach home is in a coastal neighborhood — does that affect my loan amount?

Higher home values in coastal areas like Belmont Shore, Naples, and Alamitos Beach can mean larger loan amounts. If your home exceeds the FHA lending limit, a jumbo reverse mortgage may unlock even more equity than a standard HECM.

Can I use a reverse mortgage to eliminate my existing mortgage payment?

Yes — this is one of the most common uses. If you have an existing mortgage, the reverse mortgage proceeds first pay it off, eliminating that monthly payment. Any remaining funds are available to you.

Are there income or credit score requirements?

Unlike traditional mortgages, reverse mortgages do not have strict income or credit score minimums. Lenders conduct a financial assessment to confirm you can maintain property taxes and insurance, but the bar is much lower than a conventional loan.

What happens to my Long Beach home when the loan comes due?

When the loan becomes due — typically when you sell, move out, or pass away — the balance is repaid from the home's proceeds. Your heirs keep any equity above the loan balance and have options for how to handle the property.

Long Beach, CA

Reverse Mortgages for Long Beach Homeowners

Long Beach homeowners 55+ have built decades of equity in one of Southern California's most vibrant coastal cities. David Simon helps you access it — with no monthly mortgage payments and honest, personal guidance.

Schedule a Free Consultation Call (818) 232-1171

Long Beach's Home Equity Opportunity

Long Beach — Los Angeles County's second-largest city and a thriving coastal community — has seen steady home appreciation over the past two decades. For homeowners 62 and older who purchased years ago, that growth translates into substantial equity that can be converted into tax-free funds through a reverse mortgage, without selling or making monthly payments.

David Simon is a licensed reverse mortgage specialist who works with Southern California homeowners to evaluate their options clearly and without pressure. Whether your home is in Belmont Shore, Bixby Knolls, Naples, or Signal Hill, David helps you understand exactly what's available to you.

Long Beach offers a diverse range of home values — from more affordable neighborhoods to high-value coastal properties — meaning both standard HECM and jumbo reverse mortgage programs may be relevant depending on your home's value. David works with multiple lenders to find the best fit for your situation.

Reverse Mortgage Programs Available in Long Beach

HECM Reverse Mortgage

The FHA-insured standard reverse mortgage — the most widely used program in the country. Receive funds as a lump sum, monthly payments, a line of credit, or a combination, with no monthly mortgage payments required.

Jumbo Reverse Mortgage

For Long Beach homes valued above the FHA lending limit — particularly in coastal neighborhoods like Belmont Shore and Naples — proprietary jumbo programs can unlock significantly more equity.

HECM Line of Credit

A flexible credit line that grows over time, giving Long Beach homeowners a financial cushion for healthcare costs, home improvements, or supplemental retirement income whenever it's needed.

Reverse 55+ Program

California's Reverse 55+ program allows eligible homeowners as young as 55 to access home equity — a valuable option for Long Beach residents who want earlier access to their equity.

Honest Guidance for Long Beach Homeowners

David Simon has spent over 40 years in the financial industry — the last nearly 10 helping people understand and obtain the best mortgage for their particular circumstances. He explains every program in plain language and answers every question thoroughly. He never pushes clients to move forward — once he has educated them and laid out all their options, they make the decision to move forward or not.

Because David works with multiple lenders — including those offering jumbo proprietary programs — he can compare options across the full market to find the best fit for your Long Beach home, whether it's a bungalow in Wrigley or a waterfront property in Naples.

David Simon

Reverse Mortgage Specialist

What Long Beach Homeowners Should Know

You remain the homeowner

A reverse mortgage does not transfer ownership. You keep the title and can stay in your home as long as you maintain it and pay property taxes and insurance.

No monthly mortgage payments required

The loan balance grows over time and is repaid when you sell, move out, or pass away. There are no required monthly principal or interest payments during the life of the loan.

HUD counseling is required

Before closing on a HECM, you'll complete a brief session with an independent HUD-approved housing counselor — a consumer protection that ensures you fully understand the program.

Non-recourse protection

Your heirs will never owe more than the home's value at repayment. If the loan balance exceeds the home's value, FHA insurance covers the difference — not your family.

Frequently Asked Questions — Long Beach Reverse Mortgages

Talk through your options with David Simon

Long Beach homeowners have built real equity in a city they love. Let's talk about how a reverse mortgage can help you put that equity to work — on your terms, at your pace.

Schedule Your Free Consultation

Get In Touch

Call Or Email Today For Your Free Loan Consultation

Reach out today for a no-obligation consultation. David will walk you through your options and help you determine the best path forward.

David Simon

Sr. Loan Officer & Reverse Mortgage Specialist

NMLS #1521694 | CABRE #02040832

Cell

(818) 232-1171

[email protected]

Office

Secured Capital Funding

17662 Irvine Blvd. Suite 6

Tustin, CA 92780

NMLS #1649122 | CABRE #01220151

"The highest compliment you can pay me is a referral to your family and friends."