Mortgage Blog

Jumbo Reverse Mortgage Option

Jumbo Reverse Mortgage Option

October 16th, 2019 | Jumbo Reverse Mortgage, Age in Place, supplemental retirement income, downsizing

Low interest rates have, in one perspective, liberated older homeowners by giving them many choices to stay in their family homes with Jumbo Reverse Mortgages.  Some of the choices may include paying off existing mortgages and other debt, adding liquidity, or simply supplementing income for monthly expenses.  The Jumbo programs initially came out in 2014 but frankly were not very consumer friendly or attractively priced at that time for consumers. However, lower interest rates and general competition with government reverse mortgage programs have paved the way for more flexible guidelines and much friendlier terms for homeowners. In short, this evolution has really made these programs very consumer friendly and provided real options to what otherwise could be termed forced downsizing for many people. Jumbo Reverse Mortgages are available for single family homes, townhomes, condominiums, and even multi-units as long as you occupy at least one of the units as your primary residence. 
 

For more program features, see our Jumbo Reverse Mortgage page or give us a call at 703 319-2198.
 

To read more about Jumbo Reverses - see our previous blogs:

 

George H. Omilan
President-CEO - NMLS# 873983
Jefferson Mortgage Group LLC
Located in Fairfax County - Helping seniors gain peace of mind with Reverse Mortgages and Jumbo Reverse Mortgages in Virginia, DC and Pennsylvania.

Questions/Comments encouraged.


 

 

 

 

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Jefferson Mortgage Group LLC

2536 Leeds Rd.
Oakton, Virginia 22124
703-319-2198
FAX: 703-773-6946
info@jeffersonmortgage.com
NMLS: 935554

Located in Fairfax County, Virginia. Serving all of Virginia, Maryland, DC & Pennsylvania. 

Testimonials

Jefferson Mortgage Group LLC is licensed in Virginia, Maryland, DC & Pennslvania.
Virginia State Corporation Commission License Number MC-5659 and the Pennsylvania Department of Banking & Securities #46259 
The DC Department of Insurance, Securities, and Banking License #MLB935554
Maryland DLLR License #21586

An Equal Housing Lender

By refinancing the consumer's existing loan, the consumer's total finance charges may be higher over the life of the loan.

This material is not from HUD or FHA and has not been approved by HUD or any government agency.