Reverse Mortgage in San Marino, CA
San Marino, California homeowners age 55 and older can convert part of their home equity into cash with a jumbo reverse mortgage, which counts the full appraised value rather than stopping at the $1,249,125 FHA lending limit. The FHA-insured HECM is also available from age 62. Either way there are no monthly mortgage payments and you keep the title to your home. Most borrowers access roughly 35 to 60 percent of their home's value, depending on age and interest rates.
Limit confirmed against HUD Mortgagee Letter 2025-22, published 11 December 2025.
Why San Marino homeowners use reverse mortgages
San Marino’s estates change hands rarely and appraise among the highest in the San Gabriel Valley, almost always above the FHA limit. Longtime owners here are classic jumbo reverse mortgage candidates: enormous equity, deep roots, and no intention of leaving.
Why the FHA cap matters in San Marino
The FHA program stops counting a home's value at $1,249,125. Above that figure a San Marino home and a home worth half as much are offered the same amount, because the formula never sees the difference. A jumbo, or proprietary, reverse mortgage counts the whole appraisal instead.
| If the home appraises at | FHA HECM counts | A jumbo counts | Value the HECM ignores |
|---|---|---|---|
| $1,500,000 | $1,249,125 | $1,500,000 | $250,875 |
| $2,500,000 | $1,249,125 | $2,500,000 | $1,250,875 |
| $4,000,000 | $1,249,125 | $4,000,000 | $2,750,875 |
Arithmetic only. What either program actually pays depends on the age of the youngest owner and the expected rate on the day, which is why we quote it on the phone rather than printing it here.
| FHA HECM | Jumbo / proprietary | |
|---|---|---|
| Youngest owner must be | 62 | 55 with most California lenders |
| Home value counted | Up to $1,249,125 | The full appraised value |
| Upfront FHA insurance premium | About 2 percent of the counted value | None, it is not an FHA loan |
| Government insured | Yes, by FHA | No, it is a private program |
| Owe more than the home sells for | Never. FHA covers the shortfall | Never under the programs we place, but it is a contract term rather than a federal guarantee. Ask to see it in writing |
| HUD-approved counselling | Required | Usually required by the lender |
The money is yours to use how you want: paying off an existing mortgage to end the monthly payment, covering in-home care, home repairs, everyday bills, or simply a cushion that lets you stop worrying.
Your free San Marino estimate
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How it works in San Marino
- Free estimate. We run your age and your San Marino home's value through the FHA formula and show you what you could get.
- Independent counseling. You meet with a HUD-approved counselor who does not work for any lender. California then gives you a 7-day no-pressure period. Your California protections, explained.
- Close and get funded. Any existing mortgage is paid off first, and the rest comes to you: lump sum, monthly payments, or a line of credit. Most loans close in 30 to 45 days.
San Marino details
- ZIP codes we serve: 91108
- County: Los Angeles County
- Nearby areas: Pasadena · South Pasadena · San Gabriel
