Reverse Mortgage Purchase in Marin County, CA
If you're 62 or older, you can buy a home in San Rafael, Novato, or anywhere in Marin using a HECM for Purchase — putting roughly half down and never making a required monthly mortgage payment again. I'll walk you through every number before you commit to anything.
Real reviews from real Marin clients
Pulled straight from Michael's public Google, Yelp, and Zillow profiles. Every word is the client's own.
Mike is knowledgeable, patient, and extremely service-focused! He's always ready to make a real estate deal. That must be the reason they call him “Action Jackson”.
He is professional and made sure he got us everything we were looking for. We were blessed to find our forever home in less than a week and it closed in 30 days as promised. On top of that he sold our old home the same day it was listed!
Mike worked with me endlessly to find the perfect fit. He was patient, flexible, available last minute and very responsive. He worked with a sense of urgency, especially given how competitive the market is. Thank you Mike!
If you need a senior real estate specialist, Michael Jackson is one of the most knowledgeable. He helped me with finding condos in Marin and went out of his way to find me an estate planner.
He's Great!! Kind, professional, knowledgeable, and patient. If you want a great realtor, your search is done.
Michael is the perfect balance. No pressure, but there for you. Makes a first time homeowner feel at ease. Works well as listing agent, selling and buying agent. Very responsive. Thank you Michael!
The home you want is here. The monthly payment is the problem.
In a county where the median home runs well over a million dollars, a traditional mortgage in retirement can feel like trading your freedom for a front door.
Pay all cash and feel "house poor"
To skip a mortgage payment, most buyers drain their savings into the purchase. Then a roof repair or medical bill hits, and the money is locked in the walls — not in the bank where you can reach it.
Take a 30-year loan you'll pay in your 80s and 90s
A conventional mortgage on a Marin home means a four-figure payment every month — on a fixed retirement income — for decades. One market dip or rate change and the math gets tight fast.
Stay stuck in a home that no longer fits
Too many stairs. Too much yard. Too far from the kids and grandkids. So you stay put — not because you want to, but because the move feels financially impossible.
Meet "Action Jackson"
I'm Michael Wayne Jackson — a licensed California real estate broker who's helped Marin families buy, sell, and right-size their homes since 2005. I went to San Rafael High, studied psychology at Sonoma State, and played minor league baseball before real estate. People started calling me "Action Jackson" because I don't wait for things to happen — I keep deals moving and get them done right.
Here's why a HECM for Purchase page comes from me and not just any agent: I spent years in mortgage lending before I sat across the closing table as a broker. I read both sides of a deal. So when a buyer over 62 asks me whether a reverse mortgage purchase is a smart move or a trap, I can answer with real numbers — not a sales pitch.
I hold the SRES (Senior Real Estate Specialist) designation specifically because I work with buyers in this stage of life every week. My job isn't to push you into anything. It's to show you the full picture and let you decide.
How a HECM for Purchase changes the math
A Home Equity Conversion Mortgage for Purchase lets buyers 62+ combine a down payment with an FHA-insured reverse mortgage to buy a home — in one transaction, with no required monthly mortgage payment.
No required monthly mortgage payment
You bring a down payment — often roughly 40–60% of the price — and the reverse mortgage covers the rest. There's no monthly principal-and-interest bill as long as you live there and keep up taxes, insurance, and upkeep.
Keep more cash in the bank
Instead of pouring your entire home-sale proceeds into the purchase, you keep a large chunk liquid — for healthcare, travel, helping the grandkids, or simply sleeping better knowing it's there.
You stay on title — you own the home
This surprises people: your name is on the deed. The lender holds a lien, exactly like any mortgage. You can sell anytime with no prepayment penalty, and the bank does not own your house.
Non-recourse — your heirs are protected
A HECM is a non-recourse loan. Neither you nor your heirs ever owe more than the home is worth when it's sold. FHA insurance covers any shortfall, and any remaining equity stays in the family.
Built for Marin's high values
The 2026 FHA limit is $1,249,125, and proprietary "jumbo" reverse options reach up to $4M. That matters in a market where San Rafael runs near $1.45M and Novato near $1.19M.
Right-size on your terms
Move closer to family, drop the stairs, ditch the big yard — and do it without a monthly payment hanging over the decision. The home finally fits the life you actually want now.
How the process actually works
One combined transaction — not two. Here's the path from first conversation to keys in hand.
We run your real numbers — for free
Before anything else, we look at the home price you're targeting, your age, and current rates to estimate your down payment and principal limit. No pressure, no obligation. If it doesn't make sense for you, I'll tell you plainly.
Independent HUD counseling
Federal rules require you to complete a session with a HUD-approved counselor before closing. It's a built-in consumer protection — a neutral third party confirms you understand the loan. I'll point you to approved agencies and answer questions alongside it.
Find the right Marin home
This is where I go to work as your broker — touring single-level homes in Terra Linda, condos near downtown San Rafael, or that quieter spot in Novato. The home must be your primary residence and meet FHA standards.
One closing, two pieces
Your down payment and the reverse mortgage proceeds come together at a single closing. Combining the purchase and the financing into one transaction means you avoid paying closing costs twice.
Move in — and keep your obligations simple
No monthly mortgage payment. You stay responsible for property taxes, homeowners insurance, and maintenance — the same things every homeowner pays. Keep those current and live there, and the loan stays in good standing for life.
Not sure if the numbers work for you?
That's exactly what a free planning session is for. We'll look at your actual target home and your actual budget — and you'll leave knowing whether this fits, with zero obligation either way.
Book a Free Planning SessionThree ways to buy your next home — compared
For a buyer 62 or older, here's how a HECM for Purchase stacks up against the two traditional options.
| HECM for Purchase | All Cash | Conventional 30-Yr Loan | |
|---|---|---|---|
| Required monthly P&I payment | None for life of loan | None | Every month, often for decades |
| Cash kept liquid | Large portion stays in the bank | Nearly all cash locked in the home | Some, but payments drain it monthly |
| You stay on title / own the home | Yes — your name on the deed | Yes | Yes |
| Heirs protected from owing extra | Non-recourse, FHA-insured | No loan to repay | Heirs inherit remaining balance |
| Income / credit qualifying | Lighter — based on equity & residual | None needed | Full income & credit underwriting |
| Sell anytime, no penalty | Yes — no prepayment penalty | Yes | Yes |
Straight answers to the hard questions
These are the real concerns people raise online about reverse mortgages — answered honestly, including the parts that give buyers pause.
Q.Will the bank own my house?
No. You stay on the title and own the home. The lender holds a lien — the same way any mortgage works. You can live there for life, and you can sell whenever you choose, with no prepayment penalty.
Q.Will my kids inherit a debt or lose the house?
This is the fear I hear most. A HECM is non-recourse: your heirs never owe more than the home is worth. When the loan comes due, they can sell and keep any leftover equity, pay it off to keep the home, or walk away with no personal liability.
Most of the horror stories online trace back to poor loan servicing or heirs who didn't know the loan existed — not the loan itself. The fix is simple: keep your family informed from day one.
Q.Isn't a reverse mortgage a scam?
The HECM is an FHA-insured, federally regulated program — not a scam. The real scams have been bad actors pressuring seniors with unsolicited offers. The protection: I'm a licensed local broker you can meet in person, and federal law requires independent HUD counseling before you close.
Q.How much do I have to put down?
It varies with your age, the home price, and rates — but a useful rule of thumb is roughly 40–60% of the purchase price. Older borrowers typically qualify for a larger loan portion, so they put less down. We'll calculate your specific number before you decide anything.
Q.What can I buy in Marin with this?
A single-family home, an FHA-approved condo, or other eligible primary residences. It must be your primary home and meet FHA condition standards. With the 2026 FHA limit at $1,249,125 and jumbo options beyond that, it reaches well into Marin's price range.
Q.What are my ongoing obligations?
You must keep the home as your primary residence and stay current on property taxes, homeowners insurance, and maintenance. Miss those and the loan can be called due — so it's not "no responsibilities," it's "no monthly mortgage payment."
Find the spot that fits this chapter
A few Marin areas that come up again and again for buyers 62+ trading "more house" for "the right house."
San Rafael
The county's busiest market, with single-level options in Terra Linda and Sun Valley and walkable condos near downtown and the Civic Center.
Novato
Marin's most attainable city by median price, with newer single-story homes and quiet neighborhoods near Stafford Lake and the Bay Trail.
Larkspur
Charming, walkable, and a quick ferry to the city — popular with buyers who want to drive less and stroll to dinner more.
Mill Valley
Redwoods, trails, and Mount Tam views for those who want the natural beauty of Marin with an easy lock-and-leave lifestyle.
Picture the right home, with your cash still in your name.
Imagine waking up in a single-level home minutes from your grandkids — no stairs, no oversized yard, no four-figure mortgage payment draining your account on the first of every month.
Picture your savings still sitting in the bank, ready for travel, healthcare, or whatever comes — instead of sealed inside the walls of a house you paid all cash for. That's the trade a HECM for Purchase is designed to make possible.
Buy the right Marin home — without the monthly payment.
Book a free, no-pressure planning session. We'll run your actual numbers, talk through the questions on your mind, and you'll leave knowing exactly where you stand — whether or not a HECM for Purchase turns out to be right for you.
Book a free planning session(415) 483-6009
Sources & citations
The facts and figures on this page are drawn from the following sources. Every link opens in a new tab.
| # | Source | What It Informs |
|---|---|---|
| 1 | Finance of America — HECM for Purchase Explained | How H4P works as a single transaction to buy a new primary residence. |
| 2 | Finance of America — What Is a HECM | 2026 FHA lending limit, non-recourse protection, and retaining title. |
| 3 | Reverse Mortgage — Purchase Guide | Down payment structure and jumbo/proprietary options up to $4M. |
| 4 | Reverse Mortgage — Downsides, Myths vs. Facts | Heirs' options, non-recourse shortfall coverage, and the 12-month sale window. |
| 5 | LegalClarity — How a HECM Works | Age 62 requirement, primary-residence rule, and principal limit factors. |
| 6 | Mo Abdel — HECM for Purchase 2026 | How the down payment is calculated from the Principal Limit Factor. |
| 7 | Fairway — Reverse Mortgage Myths Debunked | "The bank owns your home" myth and the required HUD counseling step. |
| 8 | AOL / Investopedia — Reverse Mortgage Scams | How to recognize and avoid reverse mortgage scams and bad actors. |
| 9 | USA TODAY — Reverse Mortgages & Heirs | Why servicing problems — not the loan structure — drive many heir disputes. |
| 10 | Redfin — Marin County Housing Market | Current Marin County median sale price context. |
| 11 | Marks Realty Group — Marin Median Prices | City-level medians for San Rafael (~$1.45M) and Novato (~$1.19M). |
| 12 | CMS — Does the Bank Own My Home? | Ownership, remaining-equity rights, and heir review of the balance. |