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What is a Jumbo Reverse Mortgage?

Are you a high-value homeowner with substantial equity who’s interested in a reverse mortgage? JUMBO reverse mortgage loans offer borrowers greater access to home equity than the federally-insured HECM (home equity conversion mortgage) lending limit allows. The privately funded JUMBO reverse mortgage loan, also known as a proprietary reverse, provides more financially savvy borrowers an alternative to the standard HECM.  A Jumbo Reverse Mortgage pays off your existing mortgage, should you have one, and allows you to access the home equity you’ve worked so hard to build. Any money left after paying off your existing mortgage is available to use as you see fit. Backed by private lending firms, a jumbo reverse mortgage offers high-value, equity-rich homeowners access to loan proceeds up to $4 million.

With some JUMBO proprietary products, a borrower may be as young as 55* years old, owning a high-value property with substantial equity, completing a thorough financial assessment, and attending a counseling session with a HUD-approved counselor. The loan amount that can be obtained is determined by factors such as the appraised value of the property, the borrower’s age, and current interest rates.

When approved, these eligible homeowners can convert a significant portion of their home’s equity into tax-free funds*. The loan proceeds can be received as a lump sum, a line of credit, or regular payments, providing borrowers with increased financial flexibility.*

At PRMG, we are committed to helping homeowners navigate the Jumbo Reverse Mortgage process. Our team of Home Mortgage Professionals will guide you through the application process, ensuring that you develop a customized solution that aligns with your financial and homeownership goals.

*Reverse mortgage is a mortgage loan and proceeds are not considered income. Consult your financial advisor.

*Age requirements may be higher than 55 years in certain states. Borrowers must be 60+ years-old in Louisiana, New Jersey, and Washington; and borrowers must be at least 62 years of age in Utah, Texas and North Carolina. Contact a PRMG Reverse Mortgage Professional for additional details about your state.

Why should you consider a Jumbo reverse mortgage?

If you’re a homeowner with a high-value property and substantial home equity, a jumbo reverse mortgage can offer significant advantages. Here are some key reasons why you should consider this financial solution:

  • Access to More Funds: With a jumbo reverse mortgage, you can tap into a larger portion of your home’s equity compared to traditional loan options. This means you have access to more funds to support your financial goals, whether it’s paying off existing debts, funding home renovations, or covering medical expenses.
  • Greater Financial Flexibility: A jumbo reverse mortgage provides you with enhanced financial flexibility. You can choose to receive the loan proceeds as a lump sum, a line of credit, or regular payments, depending on your needs and preferences. This allows you to manage your finances more effectively and make the most of your home’s equity.
  • Tax-Free Proceeds: The funds received through a jumbo reverse mortgage are typically tax-free, providing you with additional financial advantages. This can help maximize your financial resources and provide you with more disposable income to support your lifestyle or invest in other ventures.
  • No Monthly Mortgage Payments: One of the most appealing features of a jumbo reverse mortgage is the absence of monthly mortgage payments. Unlike traditional loans, you are not required to make monthly principal and interest payments. Instead, the loan is repaid when you sell the property, move out, or pass away.*
  • Retain Ownership of Your Home: Securing a jumbo reverse mortgage allows you to maintain ownership and continue residing in your home. You retain full control of the property while benefiting from the equity that has accumulated over the years. This can be particularly valuable for homeowners who have a strong emotional attachment to their residence or wish to age in place.
  • Tailored Loan Amounts: Jumbo reverse mortgages are designed to accommodate higher-value properties. The loan amount is determined by factors such as the appraised value of your home, your age, and prevailing interest rates. This personalized approach ensures that you can access a substantial loan that meets your financial requirements.
  • Peace of Mind: By unlocking the equity in your home through a jumbo reverse mortgage, you gain peace of mind, knowing that you have a reliable financial resource to support your retirement years. The funds can help you maintain your desired lifestyle, cover unexpected expenses, or provide a safety net for the future.

Securing a jumbo reverse mortgage with PRMG offers homeowners with high-value properties an excellent opportunity to leverage their home’s equity for greater financial freedom. Our experienced team is dedicated to guiding you through the process, answering your questions, and ensuring a smooth and transparent experience. Get your quote now, or contact us to explore how a jumbo reverse mortgage can benefit you and help you achieve your financial goals.

*Borrower(s) must reside in-home as their primary residence. The property taxes, insurance(s), homeowner’s association fees (if applicable) must remain current and upkeep must be maintained. Repayment is not required until the last remaining borrower (or eligible, non-borrowing spouse) no longer resides in the home. Reverse mortgage is a mortgage loan and proceeds are not considered income. Consult your financial advisor.

What are the Advantages of a JUMBO Reverse Mortgage?

Access the equity built in your home

Tap into a greater amount of your home’s equity, and gain access to additional financial resources.

Financial flexibility and freedom

Freedom to use funds for home improvements, healthcare expenses, or simply enjoying your retirement.

Benefit from Tax-free proceeds

Proceeds are typically tax-free, allowing borrowers to use their total funds far more effectively.

Personally Tailored loan amounts

align Your Loan to your unique financial requirements and the value of your property.

*Borrowers Subject to Financial Assessment Process

NO MONTHLY Mortgage Payments

Borrower must maintain financial liability for property taxes, insurance, HOA & COA fees, upkeep and maintenance.


Retain ownership of your home and continue living in it, providing stability and peace of mind.

Our Jumbo Reverse Mortgage Process is Quick & Painless

  • Meet the Eligibility Requirements: To embark on the journey of securing a jumbo reverse mortgage, you must first ensure you meet the eligibility criteria. Typically, this entails being 62 years of age or older and having sufficient equity in your current home or a significant down payment to purchase a new home.
  • Attend Mandatory Counseling: Gaining a comprehensive understanding of jumbo reverse mortgages is crucial. As part of the process, you will be required to participate in a mandatory counseling session conducted by an approved housing counselor. They will equip you with detailed information about the loan, including its features, benefits, and associated costs.
  • Get Pre-Qualified: The next step involves a thorough review of your financial standing. Fill out our pre-qualification application. Afterward, PRMG will assess your income, assets, debts, and credit history to determine if you meet the necessary financial requirements. Upon meeting the criteria, you will receive a pre-approval letter, affirming your eligibility.
  • Find a Suitable Home: With your pre-approval letter in hand, you can begin the exciting process of searching for a suitable home. It’s important to ensure that the property aligns with the guidelines set by the Federal Housing Administration (FHA) and that it will serve as your primary residence.
  • Finalize the Loan: Once you have found the perfect home, [lender] will process your loan application and initiate an appraisal of the property. The appraisal serves to verify the value of the home. If the appraisal yields satisfactory results, you can proceed with the loan closing, finalizing the jumbo reverse mortgage.
  • Move In and Enjoy Your New Home: With the loan closed, you can now embark on the next chapter of your life. Move into your new home and relish the benefits that the jumbo reverse mortgage has to offer, allowing you to enjoy financial freedom and peace of mind.

Should you have any questions or concerns during the process, our team of Jumbo Reverse Mortgage Professionals at PRMG are here to provide guidance and support every step of the way.