Skip to main content
Stay Connected: linkedin
Call Me: (818) 629-1979   |   Contact   |   NMLS#: 286088
Monty Simons
NMLS#: 286088 | Longbridge Financial NMLS#: 957935
sidebar
Get a Quote
Jumbo Reverse

A short introduction:

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 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.

Unique features of a jumbo reverse mortgage:

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 loans 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 to learn more or for an assessment of your unique situation.

Monty Simons
NMLS #286088
22312 Delia Ct.
Calabasas, CA 91723
Phone: 818-629-1979
Longbridge Financial, NMLS #957935

(Please provide either your phone number or email address above so we can reply)

By clicking "Submit" I agree by electronic signature to:
1. Receive disclosures and communications about my loan inquiry in electronic form (I confirm that I have a working computer system and internet website browser to view this webpage); and
2. Be contacted about a mortgage at my phone number even if my phone number appears on a State or National Do Not Call Registry, or any other Do Not Contact List.
3. We respect your privacy. We do not sell our subscriber email list to other parties. As we are a financial institution, any personal identifying information submitted to us here will be used for the purpose of communicating with you or advertising to you now or in the future, with the hope of presenting you with financial products that may fit your need. Please see our privacy notice for additional details.
4. By sharing your contact information, you express consent to Longbridge Financial to contact you about your inquiry via phone call or text at the phone number and/or email address you provide using a manual or automated system. You are not required to enter into this agreement as a condition for doing any kind of business with Longbridge Financial, and you can revoke this consent any time. To speak with someone at Longbridge Financial, please call 818-629-1979.