How much can Coronado homeowners access through a reverse mortgage?

With median home values around $2.5 million in Coronado, seniors can potentially access significant equity. Properties above the $1,149,825 HECM limit benefit from proprietary (jumbo) reverse mortgage programs.

What about the Coronado Shores condos?

Coronado Shores condominiums may qualify if they meet FHA approval requirements for HECM or satisfy proprietary program guidelines. High-rise oceanfront condos with significant value often work well with proprietary programs.

Can I get a reverse mortgage near Naval Air Station North Island?

Yes, residential properties near the Naval base qualify for reverse mortgages. Proximity to military installations doesn't affect eligibility. Many military retirees in these areas have significant equity built over long careers.

Reverse Mortgage in Coronado, CA: HECM Guide for Seniors [2026]

Q: Do Coronado historic homes qualify for reverse mortgages?

Yes, Coronado's historic homes qualify for reverse mortgages. Properties must meet basic condition standards, but historic designation doesn't disqualify them. The unique character often enhances appraised value.

Coronado homeowners 62 and older can access substantial home equity through reverse mortgages without monthly payments. With median home values around $2.5 million and a strong military retiree population, Coronado offers unique opportunities for seniors to tap accumulated equity while aging in place in this beloved island community.

Why Coronado Seniors Consider Reverse Mortgages

Strong property values: Median around $2.5 million
Military retiree community: Many long-term residents with significant equity
Historic charm: Desire to stay in unique island community
High cost of living: Supplement retirement income
Beach lifestyle: Maintain active coastal retirement

Coronado Neighborhoods and Property Values

Area	Typical Values	Best Program
Oceanfront/Coronado Shores	$1.5M-$5M+	Proprietary
Coronado Village	$2M-$4M	Proprietary
Historic District	$2M-$5M+	Proprietary
Coronado Cays	$1.5M-$3M	HECM or Proprietary

Reverse Mortgage Eligibility in Coronado

Age 62+: At least one borrower must qualify
Primary residence: Coronado must be your main home
Sufficient equity: Typically 50%+ for optimal proceeds
HUD counseling: Required pre-application session
Property condition: Must meet basic standards

Special Considerations for Military Retirees

Coronado's strong military presence means many potential borrowers have:

Military pensions: Stable income for financial assessment
Long-term ownership: Decades of equity accumulation
VA loan history: May have paid off previous VA loan
Survivor benefits: Spousal protections available

Frequently Asked Questions

Can military retirees in Coronado get a reverse mortgage?

Yes, military retirees 62+ living in Coronado can qualify for reverse mortgages. Your military pension and benefits are considered in the financial assessment.

How much can Coronado homeowners access?

With median values around $2.5 million, seniors can access significant equity. Proprietary programs serve properties above the $1,149,825 HECM limit.

Do Coronado historic homes qualify?

Yes, historic homes qualify. Properties must meet basic condition standards, but historic designation doesn't disqualify them.

Related Resources

Mo Abdel | NMLS #1426884 | Lumin Lending, Inc. | NMLS #2716106 | DRE #02291443
Licensed in: CA, WA

Equal Housing Lender. All loans subject to credit approval. Information is for educational purposes only.