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.
Santa Barbara, CA
Reverse Mortgages for Santa Barbara Homeowners
Santa Barbara homeowners 55+ have built exceptional equity in one of California's most desirable coastal communities. David Simon helps you access it — with no monthly mortgage payments and honest, personal guidance.
Santa Barbara's Home Equity Opportunity
Santa Barbara — the American Riviera — is one of California's most sought-after places to live, and its real estate reflects that. For homeowners 62 and older who purchased years ago, the area's sustained appreciation 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 Central Coast homeowners to evaluate their options clearly and without pressure. Whether your home is in Montecito, Hope Ranch, the Mesa, or the Riviera, David helps you understand exactly what's available to you.
Santa Barbara's high property values — often well above the FHA lending limit — make jumbo reverse mortgages a particularly relevant option for many homeowners in the area. David works with multiple lenders, including those offering proprietary jumbo programs, to find the best solution for your home and retirement goals.
Reverse Mortgage Programs Available in Santa Barbara
Jumbo Reverse Mortgage
For Santa Barbara homes valued above the FHA lending limit — which includes much of Montecito, Hope Ranch, and the Riviera — proprietary jumbo programs can unlock significantly more equity than a standard HECM.
HECM Line of Credit
A flexible credit line that grows over time, giving Santa Barbara 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 Santa Barbara residents who want earlier access to their equity.
Honest Guidance for Central Coast 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 Santa Barbara home, whether it's valued at $1.5 million or $5 million.
David Simon
Reverse Mortgage Specialist
What Santa Barbara 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 — Santa Barbara Reverse Mortgages
Talk through your options with David Simon
Santa Barbara homeowners have built extraordinary equity in one of California's most beautiful communities. Let's talk about how a reverse mortgage — including jumbo programs for higher-value homes — can help you put that equity to work in retirement.
Schedule Your Free ConsultationGet 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."