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Find Reverse Mortgage Specialists in Canoga Park, CA
Browse reverse mortgage specialists serving Canoga Park, California. Contact information and addresses listed below.
2 agents listed
Updated May 2026
Canoga Park, CA
Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the California before hiring.
Showing 2 reverse mortgage specialists in Canoga Park, CA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Private Money Specialists
7049 Owensmouth Ave Suite 2, Canoga Park, CA 91303
3238349002
Clear To Close Home Loans Inc
22156 Sherman Way STE D-1, Canoga Park, CA 91303
8183570336
A reverse mortgage specialist in Canoga Park helps seniors aged 62 and older convert home equity into loan proceeds without monthly payments. In California borrowers must complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage. Canoga Park homeowners can use these funds for home improvements medical expenses or daily living costs while retaining ownership of their property.
What Does a Reverse Mortgage Specialist in Canoga Park Cost?
Typical costs for a reverse mortgage in California include an origination fee up to $6,000 based on home value an appraisal fee of $450 to $600 and third-party charges for title insurance escrow and recording. The upfront mortgage insurance premium is 2% of the home's appraised value with an annual premium of 0.5% of the loan balance. Closing costs generally range from $2,500 to $8,000. This is general information not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What are the eligibility requirements for a reverse mortgage in Canoga Park?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The property must be the borrower's primary residence and be a single-family home HUD-approved condominium or manufactured home. California law requires a financial assessment to ensure the borrower can pay property taxes insurance and maintenance.
How much money can I get from a reverse mortgage in Canoga Park?
The amount depends on the borrower's age the home's appraised value and current interest rates. In California the maximum claim amount for a HECM is $1,149,825 as of 2024. Older borrowers generally qualify for a larger percentage of their home equity.
Are reverse mortgage proceeds taxable in California?
No reverse mortgage proceeds are not considered income for federal or California state tax purposes. The money is a loan advance not taxable income. However interest on the loan is not deductible until the loan is repaid.
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About Our Listings
Brokers listed on BeforeMortgageUSA.com are compiled from publicly available directories, state mortgage licensing authority records, and business listings. Inclusion does not constitute endorsement. We do not verify broker licensing, disciplinary status, or qualifications. Verify each broker's current standing with the California.