Reverse mortgages in Chandler
Chandler homeowners look at reverse mortgages for different reasons: paying off a mortgage, covering care, or building a cash cushion. Here is how the local numbers shape that decision.
| Measure | Chandler | Arizona | U.S. |
|---|---|---|---|
| Residents 65 and older | 13.6% | 20.6% | 18.9% |
| Owner-occupied homes | 65% | 67.4% | 65.2% |
| Median home value | $507,800 | $394,500 | $332,700 |
| Monthly owner costs, no mortgage | $562 | $525 | $638 |
| Monthly owner costs, with mortgage | $2,044 | $1,803 | $1,963 |
| Median household income | $108,095 | $79,964 | $80,734 |
| Veterans | 13,307 | 452,729 | 16,185,883 |
Monthly owner costs are medians and include taxes, insurance, utilities and any mortgage. The Census reports these up to $4,000.
What a mortgage payment costs Chandler owners
Census data shows monthly owner costs in Chandler of $2,044 with a mortgage and $562 without one. That gap of $1,482 is a rough look at what a paid-off house is worth to a monthly budget.
A HECM must first pay off any existing mortgage. After that, no monthly mortgage payment is required, though the unpaid interest adds to your balance. It is a trade of monthly cash flow now for less equity later.
Buying into a 55-plus community with a reverse loan
An owner selling a larger home can use HECM for Purchase instead of paying all cash. You bring the difference from your own funds at closing, the rest comes from the reverse loan, and no monthly mortgage payment is required.
The new home must become your principal residence. Association dues stay your responsibility, and all borrowers on the loan must be at least 62.
Home prices around Chandler
Over the past five years, the Phoenix metro area has seen home values move +35.8%, according to FHFA, with +0.8% in the latest year. Arizona as a whole moved +27.4% over the same five years.
Applied to the $507,800 Census median, that five-year change works out to roughly $130,000 of value, on a home that would have been about $370,000 back then. Your own home may have done better or worse.
With prices moving slowly, do not plan around future gains. Build the plan on what the home is worth today and on how quickly the balance would grow.
What a Maricopa County reverse loan does not cover
Your property tax, insurance, HOA dues and repairs stay your responsibility. Chandler owners without a mortgage report about $562 a month for those kinds of costs and utilities.
Missing them is the most common way a reverse loan goes wrong, so build in a reserve. A home that sits in disrepair can also cause problems, because you agree to keep it maintained.
Fewer seniors than the state average
The 13.6% share of residents 65 or older in Chandler sits well under the 20.6% statewide figure. Still, that is about 38,000 residents, and many have a decade or more of equity behind them.
Because many in this group are at the younger end of eligibility, timing matters. Waiting generally raises the share of value you can access, while a credit line opened early can have time to grow.
Property tax help in Maricopa County
With monthly no-mortgage costs of $562 here, tax relief is worth checking first. Arizona's Senior Property Valuation Protection, often called the senior freeze, locks your home's valuation (not your tax bill) for three years if an owner is 65 or older, you have lived there two years, and average income is under $47,712 for one owner or $59,640 for two or more. Maricopa County handles applications through the county assessor. See the full Arizona reverse mortgage guide.
The rules in brief
You need to be 62 or older, live in this Chandler home as your main residence, and complete HUD-approved counseling first (call 1-800-569-4287 to find a counselor). Repayment is triggered when the last borrower moves out, sells or passes away. For costs and spouse rules, read our reverse mortgage guide. If you would rather compare, see our HELOC page or the Chandler mortgage page.
More in Arizona: Mesa, Glendale, Phoenix, Tempe, Surprise, Peoria.
Sources: U.S. Census Bureau QuickFacts (American Community Survey 2020-2024, population estimates July 2025). FHFA House Price Index, 2026 Q2. HUD 2026 HECM limit.
Common questions
Can I get a reverse mortgage on my Chandler home?
Generally yes, if the home in Maricopa County is your main residence, all borrowers are at least 62, there is enough equity, and it passes an FHA appraisal. You also complete counseling and a financial assessment.
Does the HECM limit matter for a Chandler home?
Most are comfortably under it. The 2026 limit is $1,249,125, and the Chandler median is $507,800, so proceeds are driven by your age, the appraisal and rates rather than the cap.
How much have home values risen near Chandler?
FHFA shows Phoenix metro at +0.8% over one year and +35.8% over five years as of the second quarter of 2026.
Who still pays the Maricopa County property tax bill?
The homeowner. A reverse loan does not replace your Maricopa County tax bill, and unpaid taxes can trigger repayment.
Bayview Residential is a mortgage broker and is not affiliated with HUD or FHA. A reverse mortgage is a loan that must be repaid, and the balance grows over time. You must keep paying property taxes, insurance and home maintenance, and live in the home as your principal residence. All loans are subject to eligibility and approval. This page is general information and not legal, tax or benefits advice.