Residential
Reverse Mortgage in San Diego, CA
San Diego homebuyers trust Custom Mortgage for their Reverse Mortgage needs. With deep knowledge of the local market, from North Park to La Jolla, we provide tailored solutions with rates as low as 6.875%.
Key Facts About Reverse Mortgage
CMRE reverse mortgages convert home equity into tax-free cash for homeowners 62 and older.
Reverse mortgage borrowers at CMRE retain full ownership of their home.
CMRE reverse mortgages require no monthly mortgage payments.
Reverse mortgage proceeds from CMRE can be taken as lump sum, line of credit, or monthly payments.
CMRE HECM reverse mortgages are FHA-insured for borrower protection.
CMRE Reverse Mortgage offers competitive rates for qualified borrowers.
CMRE processes Reverse Mortgage in 21-30 days from application.
CMRE offers cross-collateral options for Reverse Mortgage.
Program Benefits
Access tax-free cash from your home equity.
Eliminate monthly mortgage payments.
Maintain ownership and control of your home.
Use the funds for any purpose, such as healthcare, home improvements, or travel.
Enjoy a fixed interest rate starting at 6.875% for predictable costs.
Increase your financial security and independence during retirement.
Program Highlights
Max LTV
97%
Min Credit Score
620
Max DTI
N/A
Loan Amount Range
Varies based on home value and borrower qualifications
Amortization Options
Eligible Properties
- Single Family
- Townhouse
- Condo
Program Requirements
Income Documentation
- •Demonstrate sufficient income to cover property taxes and homeowners insurance.
- •Provide documentation of all income sources, such as Social Security, pensions, and retirement accounts.
- •Meet minimum income requirements as determined by CMRE guidelines.
Asset Verification
- •Provide documentation of all assets, including bank accounts, investment accounts, and retirement funds.
- •Demonstrate sufficient assets to cover any potential financial shortfalls.
- •Meet minimum asset requirements as determined by CMRE guidelines.
Insurance & Title
- •Maintain continuous homeowners insurance coverage.
- •Provide proof of current homeowners insurance policy.
- •Ensure the insurance policy covers the full replacement value of the home.
Property Requirements
- •Minimum FICO score of 620 required.
- •Demonstrate a responsible credit history.
- •No recent foreclosures or bankruptcies.
Reverse Mortgage in San Diego: The Complete Guide
What Is Reverse Mortgage?
A reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM), is a type of loan available to homeowners aged 62 and older. Unlike a traditional mortgage, you don't make monthly payments to the lender. Instead, the lender pays you, using your home equity as collateral. The loan balance grows over time as interest and fees accrue. It's an excellent way to supplement your retirement income without selling your home.
Who Qualifies for Reverse Mortgage?
- •Income documentation varies: W-2, 1-Year Tax Return (Freddie Mac), bank statement, VOE-only, or P&L options available through CMRE.
- •Credit requirements depend on specific Reverse Mortgage guidelines — CMRE evaluates your full profile.
- •Down payment assistance programs can be combined with Reverse Mortgage for eligible borrowers.
- •Cross-collateral options: leverage existing property equity to reduce your down payment.
Reverse Mortgage vs. Other Options
- •CMRE compares Reverse Mortgage against FHA, VA, and other residential programs to find lowest total cost.
- •Factors: credit score, down payment, self-employment status, property type, ownership period.
- •For self-employed: CMRE's VOE-only and P&L programs may provide better qualification.
- •CMRE runs multiple scenarios and recommends the program with best long-term value.
Apply for Reverse Mortgage with CMRE
- •Step 1: Pre-qualification online, by phone, or via Instant Advisor.
- •Step 2: Pre-approval with documentation — issued within 24 hours.
- •Step 3: Property search — CMRE coordinates with your agent.
- •Step 4: Processing and underwriting in 14-21 days.
- •Step 5: Closing in 21-30 days total from application.
Current Mortgage Rates
30-Year Fixed Rate
6%
as of 3/5/2026 · FRED
15-Year Fixed Rate
5.43%
as of 3/5/2026 · FRED
Rates are national averages and may differ from your actual rate. Contact us for a personalized quote.
Get Your Rate →Reverse Mortgage in San Diego, CA
Premier mortgage lending services in San Diego. We specialize in VA loans for our military community and jumbo loans for coastal properties. Custom Mortgage & Real Estate specializes in providing high-fidelity Reverse Mortgage solutions tailored to the unique economic landscape of San Diego and the surrounding San Diego County.
Our FinTech-driven approach allows us to offer competitive rates and streamlined processing for homeowners and investors across the entireSan Diego metropolitan area.
Service Areas & Neighborhoods
Our San Diego Presence
Local Knowledge. Global Rates.
8880 Rio San Diego Dr
San Diego, CA 92108
Direct Line
877-976-5669Common Questions About Reverse Mortgage in San Diego
What are current Reverse Mortgage rates in San Diego, CA?
Reverse Mortgage rates in San Diego depend on loan amount, credit profile, and property type. CMRE publishes updated San Diego rate ranges daily and provides locked quotes within 24 hours of application.
How long does Reverse Mortgage closing take in San Diego?
CMRE typically closes Reverse Mortgage loans in San Diego within 21-30 days from application. Pre-approval takes 24 hours, and our CA-licensed team coordinates title, escrow, and appraisal concurrently to save time.
What San Diego neighborhoods qualify for Reverse Mortgage?
All residential neighborhoods in San Diego and San Diego County qualify for Reverse Mortgage through CMRE. Single-family homes, condos, townhomes, and 2-4 unit properties are eligible. Our local team can advise on specific HOA or condo project approval requirements.
Does CMRE offer first-time buyer programs in San Diego?
Yes. CMRE offers first-time homebuyer programs in San Diego including down payment assistance, 3% down conventional, and FHA 3.5% options. CA residents may also qualify for state-specific grants and bond programs.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
A reverse mortgage is a loan available to homeowners aged 62 and older that allows you to borrow against your home equity without making monthly mortgage payments.
To qualify, you must be at least 62 years old, own your home outright or have a low mortgage balance, and occupy the home as your primary residence. You'll also need to meet certain financial assessment requirements.
You can use the funds for any purpose, such as paying for healthcare expenses, home improvements, or supplementing your retirement income.
You retain ownership of your home with a reverse mortgage. However, you must continue to pay property taxes, homeowners insurance, and maintain the property to avoid foreclosure.
Requirements vary. CMRE offers options as low as 3% for qualified borrowers and cross-collateral options that use existing property equity.
Yes. CMRE offers 1-Year Tax Return (Freddie Mac), bank statement, P&L, and VOE-only programs for self-employed.
CMRE typically closes in 21-30 days. Pre-approval within 24 hours.
Depends on program. CMRE also offers DSCR and bank statement investment-specific programs.
Reverse Mortgage by Location
Get local rates, loan limits, and market data for Reverse Mortgage in your area.
CA
CO
GA
ID
IL
MI
NJ
NY
OH
OR
VA
WA
View county-level market data, loan limits, and mortgage rates on our territory pages.
Browse All Territories →TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
