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San Rafael sits in one of the wealthiest counties in California. Marin homeowners 62+ are often sitting on enormous equity with limited monthly cash flow.
A reverse mortgage converts that equity into tax-free cash. No monthly mortgage payment required — you stay in the home and access what you've built.
62 years old
Minimum Age
None required
Monthly Payment
HUD-approved
Counseling Required
HECM & Jumbo
Loan Types Available
Fixed or adjustable
Rate Type
Reverse Mortgages in San Rafael
You must be 62 or older. The home must be your primary residence — vacation homes and investment properties don't qualify.
You still pay property taxes, homeowner's insurance, and HOA fees. Falling behind on those can trigger default. Lenders require HUD counseling before closing.
Local decision guide
Use this guide to connect reverse mortgages eligibility, lender expectations, and local market factors before comparing payment options in San Rafael.
San Rafael sits in one of the wealthiest counties in California. Marin homeowners 62+ are often sitting on enormous equity with limited monthly cash flow.
A reverse mortgage converts that equity into tax-free cash. No monthly mortgage payment required — you stay in the home and access what you've built.
You must be 62 or older. The home must be your primary residence — vacation homes and investment properties don't qualify.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages insured by FHA. A handful of private jumbo reverse products also exist for high-value homes.
Marin home values often push past HECM limits. Jumbo reverse mortgages can lend against higher values. Not every lender offers them — access to wholesale options matters here.
The biggest mistake I see: borrowers treating this like a last resort. It's a financial tool. Used early, it can protect a retirement portfolio during down markets.
Watch the origination fees and mortgage insurance premiums — they vary. On a Marin property, the loan amount is large enough that fee differences are material.
A HELOC gives you a credit line too — but it requires monthly payments and income verification. Reverse mortgages have neither requirement.
Home equity loans work similarly but also require monthly payments. If cash flow is the problem, those loans don't solve it. A reverse mortgage does.
San Rafael has a significant population of long-term homeowners. Many bought decades ago and have paid off or nearly paid off their mortgages.
That equity is real — but it's locked up. Reverse mortgages are one of the few ways to access it without selling or taking on a new monthly obligation.
Yes. You keep the title and remain the owner. The lender places a lien on the property, just like any other mortgage.
The loan becomes due. Heirs can sell the home, refinance it, or repay the balance. FHA insurance covers any shortfall on HECMs.
Yes, through jumbo reverse mortgage programs. HECM limits cap out, but private products can lend against higher values.
No. Loan proceeds are not considered income. Consult a tax advisor about your specific situation.
The reverse mortgage pays off your existing loan first. Remaining proceeds go to you. Rates vary by borrower profile and market conditions.
If your spouse is a co-borrower or eligible non-borrowing spouse, they can remain. This requires specific designation at closing.