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Fairfax homeowners have built serious equity over decades. A reverse mortgage turns that equity into tax-free cash — no monthly payments required.
Marin County property values run high. That works in your favor here. More equity means more you can access through a reverse mortgage.
62 years old
Minimum Age
None required
Monthly Payments
HECM or Jumbo
Loan Type
Primary only
Residence Requirement
Yes, before closing
Counseling Required
Reverse Mortgages in Fairfax
You must be 62 or older to qualify. The home must be your primary residence — vacation homes and investment properties don't count.
Lenders also require you to stay current on taxes, insurance, and basic maintenance. Falling behind on those can trigger a loan call.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in Fairfax.
Fairfax homeowners have built serious equity over decades. A reverse mortgage turns that equity into tax-free cash — no monthly payments required.
Marin County property values run high. That works in your favor here. More equity means more you can access through a reverse mortgage.
You must be 62 or older to qualify. The home must be your primary residence — vacation homes and investment properties don't count.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages — backed by FHA. A few lenders offer jumbo proprietary reverse mortgages for higher-value homes.
Fairfax homes often exceed HECM lending limits. A jumbo reverse mortgage may let you access more equity. Not every lender offers those programs.
I see borrowers in high-equity markets under-utilize this product. In Marin, you may qualify for significantly more than the national average.
Counseling is required before closing — that's federal law. Pick a HUD-approved counselor. It takes about an hour and protects you.
A HELOC also taps equity, but requires monthly payments. A reverse mortgage doesn't. That's the core difference for retirees on fixed income.
Home equity loans give you a lump sum with a fixed payment. Reverse mortgages offer lump sum, line of credit, or monthly draws — your choice.
Fairfax attracts long-term owners. Many residents bought decades ago and have paid off most or all of their mortgage — prime reverse mortgage candidates.
Marin County property taxes are substantial. A reverse mortgage line of credit can cover those bills without forcing you to sell or refinance.
Yes — if you stop paying taxes, insurance, or move out. Stay current on those and the loan stays intact.
Your heirs can sell the home, repay the loan, or refinance it. They keep any equity above what's owed.
Absolutely. Higher appraised value plus your age determines the loan amount. Marin values often support larger draws.
Eligible non-borrowing spouses have protections under HECM rules. Ask your broker how to structure this correctly from the start.
No. Reverse mortgage proceeds are loan advances, not income. Consult a tax advisor for your specific situation.
HECMs don't set a hard score minimum, but lenders review credit history. Financial assessment is still required at underwriting.