Bay Area Jumbo Reverse Mortgage Specialists

Get Your Free Quote


What is a Jumbo Reverse Mortgage?

A jumbo reverse mortgage, also called a proprietary reverse mortgage, is a specialty reverse loan for homeowners with high-value homes that have a larger amount of equity to tap into. This applies to homes valued above the current Home Equity Conversion Mortgage (HECM) limit of $970,800.

A jumbo reverse mortgage is a great way for older homeowners to supplement their retirement income. If you are 62 years of age or older and have equity in your home, a jumbo reverse mortgage could be right for you.

Our team is here to help, so please contact our jumbo reverse mortgage specialists if you have any questions or to see if you qualify!

Why a Jumbo Reverse Mortgage?

Instead of being bound by traditional HECM limits, a jumbo reverse mortgage allows you to tap into more of your home’s equity. The amount you can borrow depends on factors like your age, the value of your home, and how much you currently owe on it, but the larger payout associated with jumbo reverse mortgages can provide peace of mind and financial comfort for retirees.

According to AAG, the top 10 reasons why seniors choose a jumbo reverse mortgage are:

  1. To make repairs or renovations to their current home
  2. To invest in more property or purchase a vacation home
  3. To help children purchase property
  4. To provide early inheritance for family members
  5. To start or add to college funds for grandchildren
  6. To start a trust fund
  7. To cover in-home care or medical costs
  8. To have more financial freedom to enjoy retirement
  9. To maintain their current lifestyle without having to compromise
  10. To pay off other debts, bills, etc.

Benefits of a Jumbo Reverse Mortgage

With your Jumbo Reverse Mortgage payout, you can do the things you’ve always wanted to do without the weight of financing a home hanging over your head. Unlike a traditional HECM that has limits on the amount of proceeds a buyer can receive in the first year, a jumbo reverse mortgage allows you to access funds right after the loan closes.

Plus, proceeds from a jumbo reverse mortgage loan are tax-free and not considered income, and income is not a factor in loan qualification.