How HECM eligibility works
A Home Equity Conversion Mortgage (HECM) is a federally insured reverse mortgage for eligible homeowners. For a HECM, borrowers generally must be at least 62, and the home generally must be their primary residence. Age alone does not establish eligibility: the lender also reviews the property, occupancy, ownership, existing mortgages or liens, and the borrower’s ability to meet ongoing responsibilities. Applicants generally complete counseling with a HUD-approved counselor before proceeding. Counseling is independent of loan approval and gives borrowers a chance to understand costs, responsibilities, alternatives, and how household plans may affect the decision. A lender separately evaluates the application and property under program guidelines. Property taxes, homeowners insurance, and upkeep remain important obligations. Approval and available options depend on the borrower’s and property’s circumstances and applicable requirements.
A Murrieta home’s value is only one part of the review
Murrieta’s home value was $694,424 in July 2026 (Zillow Research). That local context can help frame a conversation about the home, but it does not establish HECM eligibility or determine approval.
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Plan for property expenses, not just eligibility
Ongoing property costs matter in a HECM review because borrowers remain responsible for expenses such as property taxes. Riverside County’s median property tax was $4,189 in 2023 (Census ACS 5-Year). Consider your own tax bill, insurance, and upkeep when preparing to discuss whether those responsibilities fit your plans; the county median is context, not an estimate of your individual costs. I make time, when available, to walk through the age, occupancy, and counseling steps one at a time and identify what may still need clarification.
What I see in this market
Some borrowers believe that by taking out a reverse mortgage, they relinquish ownership of their home. This misconception can create confusion and concern, as they might think they no longer have control over their property. In reality, a reverse mortgage allows them to access the equity in their home while still retaining ownership. It's important for borrowers to understand that they can continue living in their home as long as they meet the loan requirements. Clarifying this point can help alleviate any fears they may have about their homeownership status.
Household finances and downsizing plans belong in the discussion
For Murrieta homeowners considering retirement or downsizing, a reverse mortgage discussion should include household income and future housing plans, not just the home. Riverside County’s median household income was $89,672 in 2023 (Census ACS 5-Year). That figure is not an eligibility threshold, but it provides local context for considering ongoing obligations and whether a different housing plan may better fit your circumstances.
Compare the home you occupy with the alternatives
A HECM generally concerns the home you occupy as your primary residence; a future home would need its own review. Murrieta rent was $2,681 in July 2026 (Zillow Research), useful context if you are weighing a move, but it does not show whether renting or a reverse mortgage is right for your household. Compare your actual plans and costs rather than assuming a property’s location alone establishes occupancy eligibility.
How old do you have to be for a reverse mortgage?
For a HECM, borrowers generally must be at least 62, and meeting that age requirement does not by itself establish eligibility. Murrieta’s home value was $694,424 in July 2026 (Zillow Research), but the home’s value does not replace review of age, occupancy, property, and other program requirements.
Does a reverse mortgage require counseling?
For a HECM, applicants generally complete counseling with a HUD-approved counselor before proceeding; counseling is not loan approval. Murrieta homeowners can also bring questions about ongoing expenses: Riverside County’s median property tax was $4,189 in 2023 (Census ACS 5-Year), although an individual homeowner’s bill may differ.
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The numbers behind this page
Every figure comes from public data on Murrieta, CA and Riverside County. Each one names its source and the month it describes, so you can check it yourself.
