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Jumbo Reverse Mortgages

Private Label Jumbo Reverse Mortgages now provide added flexibility and options for High- Value Homes, non-FHA eligible properties, and other scenarios that may not be eligible for the government insured HECM Reverse Mortgages.

Purchase a new residence with a Jumbo Reverse or stay in your existing residence and refinance with cash out and/or consolidate debt for more financial flexibility in retirement.

Program features include:

  • Now available for those 55 or older
  • Attractive Self-Insured rates with No Mortgage Insurance (MIP)
  • Greater flexibility with high-value homes to pay off mortgages, debt and access funds for retirement.
  • Greater flexibility that allows homeowners to use loan proceeds to pay off installment and revolving credit card debt to qualify for the loan.
  • Fixed rate program with loan amounts up to $6.5 million.
  • Attractive option for condominiums that are not FHA approved.
  • Easy qualifying designed to mirror the HECM Reverse for retirees and seniors.
  • Properties - Single Family Homes, Townhouses, Row Houses, Condominiums, 2 Unit, 3 Unit and 4 Unit owner occupied properties allowed.
  • Irrevocable trusts allowed that meet program guidelines.
  • New rate options introduced for higher risk loans whereby homeowners can pay up for higher principal limit access.

The Jumbo Reverse has evolved in the past several years from a high cost rigid program to an innovative formidable contender taking center stage as an attractive back up to the HECM Reverse. This allows us to provide a much broader array of options and eligibility to help our customers when combined with the HECM Reverse.

See alternative Jumbo Reverse Second Trust - Florida Only

To read more on Jumbo Reverse Mortgages, see our blogs below. Currently available in Virginia, Florida and Pennsylvania. Call us today to learn more - 703 319-2198.

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