Learn more about Proprietary Reverse Mortgages

Proprietary Reverse Mortgage

Proprietary Reverse Mortgages are designed for people with very high-value homes. Proprietary Reverse Mortgages may offer a bigger loan advance compared to other Reverse Mortgages. These private loans are sometimes called “Jumbo” Reverse Mortgages.

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A few key benefits of a Proprietary Reverse Mortgage:

Access more equity – If your property is of high value, a Proprietary Reverse Mortgage may let you access even more of your hard-earned equity.
You’re too young for a typical Reverse Mortgage (available to borrowers as young as 55 in select states).

A Proprietary Reverse Mortgage might be a good fit if you:

Have a high-value home.
Can afford a more expensive property.
Cannot qualify for a standard Reverse Mortgage due to an unapproved condo project.

_{*Please note: This information is based on an FHA HECM (Federal Housing Administration Home Equity Conversion Mortgage) product, which is a type of mortgage loan. There are fees associated with this loan, as well as compounding interest. The loan is not a government benefit and must be repaid. There is no guarantee of financial security, and the consumer is responsible to pay the property taxes, homeowners insurance, and property maintenance fees independent of the loan, which can be a significant cost. The consumer faces a risk of foreclosure if they do not meet these obligations. For more information about the FHA HECM Reverse Mortgage product, visit}_HUD.gov_{. Although there are no monthly mortgage payments, the borrower will continue to be responsible for paying property taxes, homeowners insurance, and property charges and maintaining the home.}