Pay Off Your Mortgage with a Reverse Mortgage

Remove monthly payments without selling your home

For many California homeowners 62+, the biggest stress in retirement is still the mortgage. A reverse mortgage can be used to pay off your existing loan — eliminating required monthly payments while you remain the owner of the home.

Who is the homeowner considering the reverse mortgage?

✅ Got it — we work with both homeowners and family decision-makers.

What is your age (or the age of the youngest homeowner on title)?

Use this dropdown to select age*

And what would you like to explore today?

✅ Thanks — your age helps determine how much down-payment you'll need, and we’ll tailor your options based on your goal and eligibility.

Where are you looking to buy?

Do you currently own a home?

✅ Thanks — your age helps determine how much equity you can access, and we’ll tailor your options based on your goal and eligibility.

What are you hoping to accomplish with this refinance?

✅ Thanks — we’ll show you only the programs that match your goal and eligibility.

What’s the address of the home you want us to look at?

Country

✅ That helps us personalize your options around your needs.

When are you looking to move forward?

✅ We’ll pace everything to fit your timeline and comfort level.

Where should we send your personalized reverse mortgage plan?

NEXT

How a reverse mortgage pays off your existing loan

With a reverse mortgage, part of your home equity is used at closing to pay off your current mortgage balance. Once that loan is paid off, the required monthly mortgage payment is eliminated.

  • You keep title to the home
  • No required monthly mortgage payment going forward*
  • You remain responsible for taxes, insurance, and maintenance

Who this strategy usually fits best

  • Homeowners 62+ with an existing mortgage balance
  • People entering retirement who want lower monthly obligations
  • Homeowners planning to stay in their home long-term
  • Those with enough equity to fully pay off the current loan
  • Homeowners prioritizing cash-flow stability over rate chasing
  • People comparing selling vs staying in place

How this compares to other choices

Paying off a mortgage with a reverse is not always the best move — but it's often misunderstood. Before deciding, it helps to compare:

• Compare reverse mortgage options →
• Standard HECM reverse mortgage →
• HomeSafe jumbo reverse →
• Back to reverse hub →

FAQs: paying off a mortgage with a reverse

This strategy works best when the goal is clarity and stability — not maximum cash. The cleanest next step is reviewing equity, age, and long-term plans together.

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❤️ Why California Homeowners Trust Solve

This material is not from HUD or FHA and has not been approved by HUD or any government agency.​

*The borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the borrower does not meet these loan obligations, then the loan will need to be repaid.​

**Not tax advice. Please consult a tax professional.​

When the loan is due and payable, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to borrowers, who may need to sell the home or otherwise repay the loan with interest from other proceeds. The lender may charge an origination fee, mortgage insurance premium, closing costs and servicing fees (added to the balance of the loan). The balance of the loan grows over time and the lender charges interest on the balance. Borrowers are responsible for paying property taxes, homeowner’s insurance, maintenance, and related taxes (which may be substantial). We do not establish an escrow account for disbursements of these payments. A set-aside account can be set up to pay taxes and insurance and may be required in some cases. Borrowers must occupy home as their primary residence and pay for ongoing maintenance; otherwise, the loan becomes due and payable. The loan also becomes due and payable (and the property may be subject to a tax lien, other encumbrance, or foreclosure) when the last borrower, or eligible non-borrowing surviving spouse, dies, sells the home, permanently moves out, defaults on taxes, insurance payments, or maintenance, or does not otherwise comply with the loan terms. Interest is not tax-deductible until the loan is partially or fully repaid.​

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Equal Lender Opportunity

Company NMLS ID: 2013271

DFP CFL License ID: 60DBO-153595

Equal Housing Opportunity

Company DRE ID: 02123993

For information educational purposes only and does not provide legal or tax advice. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. By submitting above, I authorize an affiliated Solve Lending & Realty representative to call me, send text messages and emails to me about property valuations and financing options at the number entered above even if I'm on a National or State "Do Not Call" list. You can opt-out anytime, data and message rates may apply.

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