Helping homeowners 62+ across Encinitas, Carlsbad, and all of San Diego County access their home equity — safely, clearly, and on their terms. As a broker, I compare multiple reverse mortgage lenders for you.
A reverse mortgage — most commonly a Home Equity Conversion Mortgage (HECM) — allows homeowners age 62 or older to convert a portion of their home equity into cash. Unlike a traditional mortgage, there are no monthly mortgage payments required. The loan is repaid when the home is sold, the borrower moves out, or passes away.
FHA insures HECM loans, which means your loan is backed by the federal government and comes with important consumer protections. You retain ownership of your home throughout the life of the loan.
Lump Sum — Receive the full available amount at closing. Best for paying off an existing mortgage or large one-time expenses.
Monthly Payments — Receive a set amount each month for a fixed term or as long as you live in the home. Excellent for supplementing retirement income.
Line of Credit — Access funds as needed. Unused portions actually grow over time, giving you more access the longer you wait.
Combination — Mix and match options to fit your specific retirement plan.
For 2026, the FHA limit for a HECM reverse mortgage is $1,249,125. That's the most home value the loan can use when calculating how much you can access, even if your home is worth more.
In much of North County, plenty of homes are worth more than that. If yours is one of them, you have options:
Because I'm a broker, not a single bank, I can compare HECM and jumbo reverse mortgage options from multiple lenders side by side and show you which one actually leaves you better off.
❌ "The bank owns my home." — False. You remain on title and retain full ownership. The lender holds a lien, just like a traditional mortgage.
❌ "My heirs will inherit debt." — False. Reverse mortgages are non-recourse loans. If the home sells for less than the loan balance, FHA insurance covers the difference. Heirs are never personally liable.
❌ "I could be forced out of my home." — Only if you fail to meet basic requirements: live in the home as your primary residence, keep up with property taxes and insurance, and maintain the property.
A reverse mortgage isn't right for everyone — and I'll be honest with you about that. But for many San Diego seniors with significant home equity and a desire to stay in their home, it can be a powerful retirement planning tool. Let's talk through your specific situation before you decide anything.
Want to dig deeper? Read Reverse Mortgage vs. HELOC: Which Is Better for San Diego Retirees? and 5 Reverse Mortgage Myths That Are Still Confusing San Diego Seniors.
I specialize in reverse mortgages and will give you straight answers — not a sales pitch.
858-472-2053"Mike knew the answers to any questions asked and was careful to work through the process with me only as fast as I was comfortable to go. He made a very complicated process simple and easy for me, and I never regretted any of the detail decisions that were made."
Watch my full 20-minute webinar where I walk through everything you need to know about reverse mortgages — in plain English, no jargon.
I'm happy to answer anything the webinar didn't cover — free, no pressure.
Schedule a Free Call 📞 858-472-2053A quick 60-second look at one of the most flexible reverse mortgage options available.
One of the most powerful features of a reverse mortgage is how you can choose to receive your funds — lump sum, monthly payments, a line of credit, or a combination. This short clip walks through the flexibility available to you.
Explore Your Options — FreeWe review your home value, equity, age, and financial goals to see if a reverse mortgage fits.
Required by law — an independent HUD-approved counselor reviews the loan with you.
We submit your application and order a home appraisal to determine your loan amount.
The lender reviews all documents. I stay in close contact to keep things moving quickly.
Sign your documents, wait 3 business days (right of rescission), and receive your funds.
Straight answers for San Diego homeowners and their families.
A reverse mortgage, most commonly an FHA-insured Home Equity Conversion Mortgage (HECM), lets homeowners 62 and older convert part of their home equity into cash with no required monthly mortgage payment. The loan is repaid when the home is sold, the last borrower moves out permanently, or passes away. You keep title to your home and must keep paying property taxes, insurance, and upkeep.
At least one borrower must be 62 or older, the home must be your primary residence, you need significant equity, you must complete HUD-approved counseling, and you must be able to keep paying property taxes, homeowners insurance, and any HOA dues.
For 2026, the FHA HECM maximum claim amount is $1,249,125. That is the most home value a HECM can use to calculate your loan, even if your home is worth more. Owners of higher-value San Diego homes can also compare private (jumbo) reverse mortgages.
It depends on the age of the youngest borrower, current interest rates, and your home's value up to the FHA limit. Older borrowers and lower rates generally mean more available funds. Any existing mortgage is paid off first from the proceeds. Mike Fake can run a free estimate on your actual home.
Yes. Many San Diego homeowners use a reverse mortgage to pay off their existing mortgage, which eliminates that monthly payment. The existing loan is paid off at closing from the reverse mortgage proceeds.
Yes. A HECM for Purchase lets buyers 62 and older buy a new primary residence, often a downsize or a move closer to family, using a reverse mortgage plus a down payment, with no monthly mortgage payment afterward.
No. You remain on title and keep ownership of your home. The lender holds a lien, just like a traditional mortgage. Reverse mortgages are non-recourse, so you and your heirs never owe more than the home is worth when it is sold.
Mike Fake (NMLS #125241) is an Encinitas-based mortgage broker with 20+ years of experience who helps San Diego County homeowners compare HECM and jumbo reverse mortgages from multiple lenders through Arbor Financial Group. He has a 5.0 rating from 107 client reviews. Call 858-472-2053 for a free consultation.
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…and anywhere in California. Based in Encinitas, happy to meet at your kitchen table.
A no-pressure conversation to see if a reverse mortgage makes sense for you.
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