Jumbo Reverse Mortgages
Your home may be one of your most valuable assets. A jumbo reverse mortgage is designed for eligible homeowners with higher-value properties, offering the potential to access more home equity than a traditional FHA-insured reverse mortgage.
Whether you're looking to supplement retirement income, eliminate required monthly payments on an existing mortgage, or create greater financial flexibility, we'll help you explore solutions tailored to your goals.
What Is a Jumbo Reverse Mortgage?
For homeowners with higher-value properties, a jumbo reverse mortgage may offer an opportunity to unlock more of the equity they've built over the years.
Unlike traditional Home Equity Conversion Mortgages (HECMs), which are federally insured and subject to FHA lending limits, jumbo reverse mortgages are privately funded loans designed to accommodate higher property values and potentially larger loan amounts.
These programs allow eligible homeowners to access a portion of their home equity while continuing to own and live in their homes, without required monthly principal and interest payments.
Whether your goal is to improve monthly cash flow, pay off an existing mortgage, or create greater financial flexibility during retirement, a jumbo reverse mortgage may provide a solution tailored to your needs.
Benefits of a Jumbo Reverse Mortgage
Access More of Your Home Equity
Jumbo reverse mortgages may provide higher loan proceeds than FHA-insured reverse mortgages, making them especially appealing to homeowners with substantial equity in higher-value properties.
No Required Monthly Mortgage Payments
Eliminate required monthly principal and interest payments on the reverse mortgage, helping free up cash flow for other retirement priorities. You must continue meeting property-related obligations.
No FHA Mortgage Insurance Premiums
Because jumbo reverse mortgages are privately funded rather than FHA-insured, they do not require FHA mortgage insurance premiums. Other lender fees and closing costs may apply.
Flexible Ways to Receive Your Funds
Depending on the loan program, you may be able to receive funds as a lump sum or through other available disbursement options.
Maintain Ownership of Your Home
You continue to own your home and can remain there as long as you meet the loan's occupancy, maintenance, and other requirements.
Who May Qualify for a Jumbo Reverse Mortgage?
Jumbo reverse mortgages may be an option for homeowners who:
- Are generally age 55 or older, depending on the lender and program.
- Own a higher-value home with substantial equity.
- Use the property as their primary residence.
- Want to access equity without selling their home.
- Meet the lender's financial assessment and other eligibility requirements.
Eligibility and available loan proceeds depend on factors such as your age, property value, existing mortgage balance, interest rates, and the specific loan program.
Jumbo Reverse Mortgage Benefits
Higher Loan Amounts
Potential loan amounts*
Age 55+ Options
Available with select programs*
No FHA Insurance
No FHA mortgage insurance premiums
Flexible Payouts
Choose from available payout options*
Frequently Asked Questions
A jumbo reverse mortgage is a privately funded loan designed for homeowners with higher-value properties. Unlike FHA-insured Home Equity Conversion Mortgages (HECMs), jumbo reverse mortgages are not subject to the same federal lending limits. This may allow eligible homeowners to access more of their home's equity while continuing to live in and own their property.
The amount you may qualify for depends on several factors, including your age, home value, existing mortgage balance, interest rates, and the lender's guidelines. Some jumbo reverse mortgage programs offer loan amounts of up to $4 million or more, depending on current program availability. A personalized assessment can help determine how much equity you may be able to access.
While FHA-insured reverse mortgages generally require borrowers to be at least 62 years old, certain jumbo reverse mortgage programs are available to homeowners as young as 55. Minimum age requirements vary by lender, program, and state.
Is a Jumbo Reverse Mortgage Right for You?
Every homeowner's situation is unique. We'll help you understand your options and explore whether a jumbo reverse mortgage aligns with your retirement goals.