Reverse Mortgages in Santa Monica, CA

Reverse Your Thinking®

You Grew Up Hearing the Bank Takes the House. Here’s the Truth.

Maybe you’ve lived in Sunset Park since before the 10 Freeway cut through the neighborhood. Maybe your place is a few blocks from the Pier, bought back when that kind of proximity to the ocean didn’t cost what it costs now. Wherever in Santa Monica you’ve put down roots, you’ve probably also picked up the same warning somewhere along the way: get a reverse mortgage, and the bank takes your house.

That fear didn’t come from nowhere. Your parents may have said it, or a neighbor’s family may have lost a home decades ago. It’s understandable, but the programs that fear is based on don’t exist anymore.

With a modern reverse mortgage, you keep the title to your home. The deed stays in your name, not the lender’s.

Mathius Marc Gertz, a Santa Monica reverse mortgage specialist and Accredited Financial Counselor, has spent years helping homeowners across this city sort fact from inherited fear. He compares programs across roughly a dozen lenders, and when a reverse mortgage in Santa Monica isn’t the right fit for you, he’ll say so.

Tell Marc what you’re worried about, and he’ll go through your options with you.

Why the “They’ll Take the House” Fear Still Follows Santa Monica Homeowners

The fear is not irrational. It is inherited. In the 1960s and 1970s, early reverse-style loans were underregulated, inconsistent, and lacked FHA insurance. Those programs disappeared by the early 1980s. 

The federally insured Home Equity Conversion Mortgage (HECM) was signed into law in 1988 and made permanent in 1998.

Here are some common myths and the truth about HECM today:

Fiction: The bank takes the house. 

Fact: You keep title, and the loan is non-recourse, so you or your heirs will never owe more than the home is worth, even if the balance grows past the home’s value.

Fiction: Only homeowners in financial trouble use it. 

Fact: Plenty of financially comfortable Santa Monica homeowners use it as a planning tool, not a last resort.

How a Reverse Mortgage Works for a Santa Monica Homeowner

A reverse mortgage lets you convert home equity into cash without taking on a required monthly mortgage payment. Most homeowners at 62 and older qualify for the standard FHA-insured HECM, and some proprietary programs open the door as early as 55. 

You can take the money as a lump sum, a monthly payment, a line of credit, or a mix of the three. The loan isn’t due until you sell the home, move out for good, or pass away.

You still cover your property taxes, homeowners insurance, and basic upkeep, and you still need to live in the home as your primary residence. 

HUD requires independent counseling before closing, one more layer built into the program to protect you, not the lender.

When Your Santa Monica Home Is Worth More Than the FHA Limit

Santa Monica carries some of the highest home values in Los Angeles County, and that changes the math. The FHA insures HECM loans only up to $1,249,125 in 2026. If your home is worth more than that, a standard HECM caps how much of your equity you can access.

That’s where a jumbo or proprietary reverse mortgage comes in. It’s a privately backed option built for higher-value homes, and it can unlock more of your equity while keeping the same core protections: no required monthly payment, and you keep your title. 

A Local Santa Monica Specialist Who Will Also Tell You No

Marc runs his practice out of an office right here in Santa Monica, and he has worked with homeowners across Santa Monica, Inglewood, Los Angeles, and California. He is a broker, not a single lender, which means he can compare roughly a dozen lenders and around 15 programs before recommending anything. If none of them genuinely fit your situation, he will tell you that too and point you toward someone who can actually help.

As an Accredited Financial Counselor, Certified Aging in Place Specialist, and Certified Divorce Lending Professional, Marc looks at your whole financial picture, not just the loan in front of him. Many of his past clients have shared their own experience on camera, unscripted, because the hesitation almost everyone feels walking in is usually the same one you might be feeling right now.

Reverse Mortgage Questions Santa Monica Homeowners Ask Marc 

Will my kids inherit my debt from a reverse mortgage?

No. A reverse mortgage is non-recourse, so neither you nor your heirs will ever owe more than the home is worth, even if the loan balance eventually grows larger than the home’s value.

Do I have to make monthly mortgage payments?

No monthly mortgage payment is required. You’re still responsible for property taxes, homeowners insurance, and basic upkeep, since the home is still yours.

What does a reverse mortgage cost in Santa Monica?

Costs vary by loan amount, program, and your home’s value, so a flat number can’t be quoted on a page like this. Marc will walk you through the real numbers for your specific home during a free, no-pressure consultation.

Am I too young, or too old, for this?

The standard HECM opens at 62. Some proprietary programs start as early as 55, and there’s no upper age limit for any of them.

Do I need a reverse mortgage specialist, or can any loan officer handle this?

You can work with a general lender, but reverse mortgages carry their own rules, timelines, and a HUD counseling requirement most loan officers rarely touch. Working with someone who focuses on reverse mortgages in Santa Monica and across California, and who compares multiple lenders side by side, usually means fewer surprises and more options.

A Smarter Way to Use Your Home Equity

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Let’s Look at Your Santa Monica Home and Your Options Together

You don’t have to figure this out alone, and you don’t have to decide anything today. Call (310) 447-5266 for a free, no-pressure consultation, or reach out through the contact form, and we’ll go through your home, your goals, and whether a reverse mortgage actually makes sense for your situation specifically.