Loading
Reverse Mortgages in Tiburon
Tiburon homeowners aged 62+ often sit on substantial equity after decades of Bay Area appreciation. A reverse mortgage lets you access that equity while staying in your home.
Most Tiburon properties qualify as jumbo reverse mortgages due to higher home values. This means the standard FHA HECM loan cap may limit your borrowing power.
The gap between what you owe and what your home is worth determines your available funds. Tiburon's long-term residents typically have the strongest equity positions.
You need to be 62 or older and own your home outright or have significant equity. The home must be your primary residence.
Lenders assess your ability to pay property taxes and homeowners insurance. They also check that you can maintain the property.
Your age, home value, and current interest rates determine how much you can borrow. Older borrowers typically access more equity.
FHA HECM loans cap at $1,149,825 for 2024. Tiburon homes often exceed this, requiring proprietary jumbo reverse mortgages.
Jumbo reverse mortgage lenders are selective. Only about 15-20 nationwide lenders offer these programs consistently.
Rates on proprietary reverse mortgages run 1-2% higher than FHA HECM products. The tradeoff is access to more equity.
We shop your scenario across lenders who compete in Marin County. This includes both FHA and proprietary options.
Most Tiburon reverse mortgage inquiries involve estate planning questions. We coordinate with your financial advisor and attorney before proceeding.
Heirs inherit the choice to repay the loan and keep the home or sell and keep remaining equity. The loan never exceeds home value.
Line of credit options beat lump sum payouts for most clients. You draw funds as needed and only pay interest on what you use.
Property tax delinquency kills reverse mortgages faster than anything else. Set up auto-pay before closing.
HELOCs require monthly payments and income verification. Reverse mortgages require neither if you're 62+.
Home equity loans give you a lump sum with immediate repayment. Reverse mortgages defer repayment until you move or pass away.
Selling and downsizing means moving costs and capital gains taxes. Reverse mortgages let you stay put and access equity tax-free.
Equity appreciation loans share future gains with investors. Reverse mortgages preserve 100% of appreciation above the loan balance.
Tiburon's high property values mean tax and insurance costs run $15,000-$30,000 annually. Budget for these before applying.
Marin County property taxes reassess on ownership transfer. Reverse mortgages don't trigger reassessment since you retain title.
HOA fees in Tiburon communities add another layer of required payments. Lenders verify you can afford these ongoing costs.
The Peninsula's appreciation history works in your favor. Borrowers who bought decades ago have massive equity cushions.
Your heirs can repay the loan and keep the home, or sell and keep proceeds above the loan balance. The lender cannot take more than the home's value.
Yes, but you'll need a jumbo reverse mortgage since FHA caps at $1,149,825. Fewer lenders offer these, but we access multiple jumbo programs.
No. You retain full ownership and can sell anytime. You must live there as your primary residence and maintain taxes and insurance.
The reverse mortgage pays off your existing loan first. Remaining funds come to you as cash, monthly payments, or a line of credit.
No. The IRS treats reverse mortgage funds as loan proceeds, not income. Consult your tax advisor about your specific situation.
Yes. You can refinance into a new reverse mortgage, though closing costs apply. This makes sense if rates drop significantly or home value increases.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.