Where can I get a reverse mortgage near me in Marina del Rey?

Our Marina del Rey office at 13763 Fiji Way, Suite EU2, Marina del Rey, CA 90292 offers HUD-counseled HECM reverse mortgages across the Westside. Save Financial is a licensed California mortgage broker (NMLS #377740, DRE #01875766). Call (310) 759-4757. We are not affiliated with or endorsed by HUD, the FHA, or any government agency.

How old do I have to be for a reverse mortgage?

You (and any co-borrower on title) must be at least 62 years old. That's a firm HECM requirement.

Do I make monthly payments on a reverse mortgage?

No monthly mortgage payment is required. You do need to keep paying property taxes, homeowners insurance, and maintenance to keep the loan in good standing.

How do I receive the money?

As a lump sum, a line of credit, monthly payments, or a combination. Many Westside owners set up a line of credit and leave it as a standby resource.

When does the reverse mortgage get repaid?

Only when you sell the home, permanently move out, or pass away. Until then there's no required monthly mortgage payment.

Are reverse mortgage proceeds taxable in California?

Generally no — loan proceeds aren't income. Still, consult a tax advisor about your specific situation before drawing large amounts.

Can I buy a home with a reverse mortgage?

Yes — HECM for Purchase lets a 62+ buyer purchase a new primary residence, typically with a 50%–60% down payment from savings or sale proceeds.

Is Save Financial affiliated with the government?

No. We're an independent, licensed California mortgage broker (NMLS #377740, DRE #01875766), not affiliated with or endorsed by HUD, the FHA, or any government agency.

Which Westside areas do you serve from this office?

All of the Westside and beyond — including Marina del Rey, Venice, Playa del Rey, Playa Vista, Santa Monica, Culver City, and more — plus every California county.

Reverse Mortgage · Marina del Rey, CA

Reverse Mortgages in Marina del Rey — HUD-Counseled HECM Loans for Homeowners 62+

A reverse mortgage in Marina del Rey lets a homeowner aged 62 or older convert Westside home equity into cash — with no required monthly mortgage payment — while staying in the home. Save Financial (NMLS #377740), a local broker at 13763 Fiji Way, Suite EU2, offers HUD-counseled HECM loans with patient, no-pressure guidance. Call (310) 759-4757.

Many long-time Westside homeowners are equity-rich and cash-flow-tight — they bought decades ago, the home is worth far more now, but monthly income is fixed. For a homeowner aged 62 or older who wants to stay put, a reverse mortgage (HECM) turns some of that Westside equity into tax-free* cash with no monthly mortgage payment. It's not right for everyone, and it deserves careful, unhurried math — which is exactly how we approach it: HUD-counseled, no pressure, and honest about the trade-offs.

Looking for a Reverse Mortgage Near You in Marina del Rey?

Our Westside home office lets a homeowner 62+ sit down in person with a licensed loan officer, run the real numbers, and decide without pressure whether a HECM fits — not through a distant call center.

Save Financial — Marina del Rey office
13763 Fiji Way, Suite EU2, Marina del Rey, CA 90292
Phone: (310) 759-4757
Hours: Monday–Friday 8:00 AM–5:00 PM, Saturday 10:00 AM–2:00 PM (Sunday closed) PT

The office is just off Fiji Way near the main channel of the marina, with convenient parking and quick access from Lincoln Boulevard and the 90 Marina Freeway. We serve Westside homeowners from our Marina del Rey office across the neighborhoods below.

Areas We Serve Near Our Marina del Rey Office

Here is how a reverse mortgage tends to fit for homeowners across the areas we cover from Marina del Rey:

Marina del Rey: 62+ owners of appreciated condos and homes converting equity while aging in place.
Venice: long-time homeowners with large equity gains using a HECM line of credit.
Playa del Rey: retirees staying in their coastal home with no monthly mortgage payment.
Playa Vista: 62+ condo owners modeling lump-sum vs. line-of-credit payouts.
Santa Monica: high-equity owners funding retirement while keeping the home.
Culver City: owners aged 62+ supplementing fixed income with home equity.
West Los Angeles: long-held homes converted to tax-free* retirement cash flow.
Mar Vista: aging-in-place owners using a HECM instead of selling.
Westchester: Kentwood retirees tapping decades of appreciation.

These are service areas of our Marina del Rey office, not separate offices.

How a Reverse Mortgage (HECM) Works

A reverse mortgage — most commonly a HUD-insured HECM — lets a homeowner aged 62 or older borrow against home equity with no required monthly mortgage payment. You can take the money as a lump sum, a line of credit, or monthly payments, or a combination. The loan is repaid only when you sell, permanently move out, or pass away.

You stay on title and keep paying property taxes, homeowners insurance, and upkeep. A HUD-approved counseling session is required first — by design, so you understand the trade-offs. On the Westside, where a modest home can hold enormous equity, a HECM line of credit is often used as a standby resource rather than drawn all at once.

There's also HECM for Purchase: a 62+ buyer can buy a new Westside primary residence with a reverse mortgage, usually putting 50%–60% down from savings or sale proceeds — handy for right-sizing into a marina condo without taking on a monthly payment. Proceeds are generally not taxable in California.* Save Financial is a licensed mortgage broker and is not affiliated with, or endorsed by, HUD, the FHA, or any government agency. A reverse mortgage is a loan that must be repaid; you remain responsible for property taxes, homeowners insurance, and maintenance. *Consult a tax advisor regarding your situation.

Common Reverse Mortgage Scenarios in Westside

A 72-year-old Santa Monica owner setting up a standby line of credit for emergencies.
A retired couple in Mar Vista eliminating their monthly mortgage payment to ease cash flow.
A homeowner supplementing fixed income with monthly HECM payments.
A 62+ buyer using HECM for Purchase to right-size into a marina condo.
An owner funding home modifications to age in place safely.

Is a Reverse Mortgage Right for You?

You (and any co-borrower) are 62 or older and own a Westside home with substantial equity.
You want to stay in your home rather than sell.
You can keep up property taxes, insurance, and maintenance.
You want honest, HUD-counseled math — not a sales pitch.

Reverse Mortgage vs. HELOC vs. Cash-Out

All three tap home equity, but they work very differently for someone in retirement:

For a Westside homeowner 62+	Reverse Mortgage (HECM)	HELOC	Cash-Out Refinance
Monthly mortgage payment	None required	Yes, every month	Yes, every month
Age requirement	62 or older	Any adult owner	Any adult owner
How you receive funds	Lump sum, credit line, or monthly draws	Draw against a revolving line	One lump sum at closing
Income qualifying	Lighter; centered on the Westside home and its obligations	Full income + credit review	Full income + credit review
When it's repaid	Only when you sell, permanently move, or pass away	On the line's repayment schedule	Amortized over the new loan term
Counseling	HUD-approved session required for Westside borrowers	None	None

A reverse mortgage isn't automatically better — for some homeowners a HELOC or cash-out is smarter. We'll model all three and tell you honestly which fits.

Why Work With a Local Marina del Rey Mortgage Broker?

Reverse mortgages attract high-pressure sales — we go the other way. As a broker we compare HECM programs, and because our office is in Westside, you can sit with a licensed loan officer in person, bring family along, and take the time this decision deserves. No pressure, just clear math.

Call the Marina del Rey office directly at (310) 759-4757 to talk it through. Save Financial is a licensed mortgage broker and is not affiliated with, or endorsed by, HUD, the FHA, or any government agency. A reverse mortgage is a loan that must be repaid; you remain responsible for property taxes, homeowners insurance, and maintenance. *Consult a tax advisor regarding your situation.

How to Explore a Reverse Mortgage with Save Financial

Tell us your age, your Westside home's rough value, and any remaining mortgage. Start online or call (310) 759-4757.
We complete the required HUD-approved counseling and model each payout option.
We compare HECM programs and show you the numbers with no pressure.
If it fits, we handle the loan to closing; if it doesn't, we'll say so.

Serving Marina del Rey: Save Financial arranges these loans in Marina del Rey and across Westside Los Angeles from our Marina del Rey office. We are a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766), Equal Housing Opportunity, and shop multiple lenders for your best terms. This page is informational and not a commitment to lend; all loans are subject to credit approval, income and property review, and program availability. Call 310-759-4757 or apply online.