Mortgage Loan Programs and Eligibility Requirements

A comparison of available loan programs - conventional, FHA, VA, USDA, jumbo, HELOC and specialty financing - with the credit, down payment and property rules that decide which one fits.

The loan is repaid when the homeowner sells, moves out permanently, or passes away. Borrowers remain responsible for property taxes, insurance, and upkeep.

Benefits of a reverse mortgage

• No monthly mortgage payments required
• Stay in your home while accessing its equity
• Funds available as a lump sum, credit line, or monthly draw
• FHA-insured HECMs include borrower protections and required counseling

What to consider

• The loan balance grows over time as interest accrues
• Heirs settle the loan, usually by selling or refinancing the home
• Property taxes, insurance, and maintenance remain your responsibility

Ready to explore reverse mortgages (hecm)? Liliana Afonso can walk you through eligibility, compare options, and get you pre-approved in California.

Liliana Afonso, Senior Mortgage Specialist | NMLS #1420068 LilyHomeLoans | Powered by NEXA Lending California | Hablo Español at NEXA Lending. NMLS #1420068. Call (951) 415-9688.

• Conventional loans for strong credit and steady income
• FHA loans with flexible credit and low down payment
• VA loans with no down payment for eligible veterans
• USDA loans for eligible rural and suburban properties
• Jumbo, DSCR, bank statement and bridge financing