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California is a huge state and features many lenders. Most lenders offer general financial services while a number have specialized in California reverse mortgage loans. Borrowers who are 62 years or older, hold a title to a home, are disabled or have little to no income. The most common reverse mortgage loan is the HECM. This is given by HUD approved lenders. You can find a list of approved lenders at the HUD website.

Another financial product that is similar to the HECM is the California Property Tax Postponement for Senior Citizens. With this program,  property tax payments based on the equity of the borrower's home are made. The loan is due when the borrower leaves the home permanently or dies.

California has some of the highest house value limits in the country. This is reflected by the limits set by the FHA with regards to mortgage lending. Seniors looking to apply for reverse mortgage loans must look for experienced and reputable lenders in their area. The amount of mortgage a person can apply for is similar to the value of his home, but never more. Homeowners who would like more amounts can seek alternative mortgage options like jumbo mortgage loans.