Jumbo Reverse Mortgages are available in California, Nevada & multiple states
- The proprietary, non-FHA Jumbo Reverse Mortgage called “HomeSafe,” is available in these states: · Arizona · California · Colorado · Connecticut · District of Columbia · Florida · Hawaii · Georgia· Idaho · Illinois · Louisiana · New Jersey · Oregon ·Pennsylvania · Rhode Island · South Carolina · Texas · Virginia · Washington · New York
- HomeSafe Select is currently available in California and Florida (line of credit option)
- Maximum principal limit is $4 million
- No restriction to cash draw in first year
- “Equity Elite” by Reverse Mortgage Funding, LLC “RMF” available for borrower’s age 55 + (call for state availability)
- It has a fixed interest rate lump sum option and variable rate line of credit option (in limited states) – call for detailed interest rate structure
- There is no mortgage insurance premium (mip)
- For condos, call to check eligibility
- Available for Reverse Mortgage for Home Purchase
- New Construction is acceptable
- Reverse Mortgage Counseling is required.
- Financial Assessment must be completed.
- Call to have your scenario run through our Jumbo Reverse Mortgage Calculator