Serving San Diego, CA
Reverse Mortgages in San Diego
HECM Education for San Diego Homeowners
Why San Diego homeowners are exploring reverse mortgages
The advice San Diego retirees keep hearing is 'just downsize.' But run the numbers and it falls apart fast. Sell your $900,000 home in Clairemont — you net maybe $840,000 after commissions and closing costs. Buy a smaller place in Escondido for $700,000 (plus closing costs and moving expenses), and you've freed up maybe $120,000. And you've spent tens of thousands in commissions, closing costs, and moving to free up that $120,000 — after leaving the home and neighborhood you know. (If you're 55 or older, Prop 19 may let you carry your low Prop 13 tax base to the replacement home, so your property taxes needn't jump — but the selling and moving costs are real either way.)
A HECM skips all of that. A 72-year-old with that same $900,000 home could access roughly $380,000 in equity — more than three times what downsizing would free up — without selling, without moving, and without resetting property taxes. For San Diego's large military retiree community, where VA pensions provide stable income but not always enough liquidity, that access to home equity can be the piece that makes the whole retirement plan work.
San Diego housing snapshot
$900,000
Median home value
250,000+
Population 65+
$1,249,125
2026 FHA lending limit
Neighborhood & community values
What makes San Diego unique for reverse mortgages
Strong military retiree community
San Diego is home to one of the largest concentrations of military retirees in the country. Military pensions, VA disability income, and retirement benefits all work with the HECM financial assessment. Many retirees use a HECM to supplement their pension without taking on monthly payments.
HECM for Purchase lets you right-size without a payment
Want a single-story home closer to Scripps or Sharp? The HECM for Purchase program lets you buy a new primary residence using a reverse mortgage — meaning you can downsize within San Diego without taking on monthly mortgage payments. You bring a down payment, the HECM covers the rest, and you move in payment-free. Learn how HECM for Purchase works →
Selling costs $50,000+ in San Diego
On a $900,000 home, real estate commissions alone run $45,000–$54,000. Add closing costs, staging, repairs, and moving expenses, and you're looking at $60,000+ just to sell. A HECM's upfront costs are a fraction of that — and you keep the house.
Wide value range means wide eligibility
San Diego's market spans from $700,000 homes in Escondido to $1.8 million in La Jolla. That range means the HECM works differently in different neighborhoods — but it works almost everywhere. Inland homeowners get full value in the calculation. Coastal owners hit the FHA cap but still access substantial proceeds.
How much can San Diego homeowners get?
Based on a median home value of $900,000 in the San Diego area, a typical HECM borrower at current rates might access, after typical closing costs:
Age 65
30-38%
of home value
Age 75
40-48%
of home value
Age 85
50-59%
of home value
These are approximate net ranges after typical closing costs (upfront FHA mortgage insurance, origination, and third-party fees), based on typical expected rates. Your actual amount depends on age, home value, and current rates. Use our free calculator for a personalized estimate or see full amount tables.
Reverse mortgage rates and lenders in San Diego
Here's something most San Diego homeowners don't realize: reverse mortgage rates aren't local. A HECM rate is set by a national index plus the lender's margin — the same whether your home is in San Diego or anywhere else in California. What changes by location is your home's value, which affects how much you can borrow, not the rate you pay. See how reverse mortgage rates work for today's picture.
You also don't need a big-bank branch in San Diego to get a HECM. I'm JP Dauber, a licensed HECM specialist (NMLS# 386298) working with San Diego homeowners directly — by phone, video, and email, on your schedule. No storefront, no pressure. More about how I work, or reach out for a San Diego estimate.