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Mary Jo Lafaye

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Jumbo Reverse Mortgages

What is a jumbo reverse mortgage?

Today, the two most popular types of reverse mortgages on the market are the Home Equity Conversion Mortgages (Insured by the FHA), and Jumbo or proprietary reverse mortgages. The former you are most likely familiar with, having seen a number of television ads with celebrities touting the benefits of the ‘reverse mortgage’. However, jumbo reverse mortgages have returned in a big way.

The good news is that homeowners of higher-valued properties looking to incorporate their home equity in retirement-one that allows them to tap into considerably more of their home’s value.

Jumbo reverse mortgages are designed for homeowners of higher-valued properties that exceed the federal lending limit, helping them access a larger portion of their home’s value. Those over the age of 55-60 with significant equity in a higher-value home could be ideal candidates for a private jumbo reverse mortgage.

Contact me today to learn more or for an assessment of your unique situation.


While Jumbo reverse mortgages have many similarities to the traditional reverse they are unique for a number of reasons. One of the most notable is that many jumbo reverse loans offer loan amounts as high as $4 million. In addition, property values are considered up to $10 million with some lenders. Another is that these private mortgages do not charge the significant FHA mortgage insurance premiums that are required on the traditional Home Equity Conversion Mortgage- one of the traditional reverse mortgage’s most significant closing costs and ongoing charges.

A jumbo reverse mortgage is a private or proprietary loan which means the loan terms, conditions, and guarantees are established by the lender versus the typical federally-insured reverse mortgage which is administered by HUD and insured by the Federal Housing Administration.

Here are some of the features of today’s jumbo reverse mortgages (features and benefits vary by the issuing bank and jumbo loan product chosen).

  • Loan amounts to $4,000,000
  • Property Values to $10,000,000
  • No first year distribution limitations
  • Flexible disbursement options


Contact me today for a no-obligation evaluation.


Mary Jo Lafaye

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