Get Started

UNLOCK MORE OF YOUR HIGH-VALUE HOME’S EQUITY

What Could You Qualify For?
JUMBO REVERSE MORTGAGE LOAN

The Reverse Mortgage Loan for High-Value Homes

Dan and the Fairway Reverse Team are committed to helping you find the right reverse mortgage loan for your unique situation. If you’re 62 or older and looking* to take out a reverse mortgage on a high-value home (e.g., a home worth over a $1 million), a jumbo reverse mortgage offers some distinct advantages over a traditional home equity conversion mortgage (HECM).

*Some proprietary products may be available as early as 55 years of age.

Find Out What You Could Qualify For

What Is a Jumbo Reverse Mortgage?

A jumbo reverse mortgage is a home loan that allows older homeowners to access a portion of the equity they have in a high-value property and allows them to defer repayment to a later date.
As a borrower, you have the option to repay as much or as little of the loan balance each month as you would like, or you can make no monthly mortgages payments at all. Of course, you must still maintain the home and pay homeowners insurance and property taxes, just like a traditional mortgage.

  • The Communication was excellent from the whole team. Dan was outstanding as well as Molly- Explaining the process and answering any questions. A Seamless process. I would highly recommend.

    Business Avatar Business

    Dan is great at keeping you updated and responding to your questions promptly. He also quickly solved any issues that came up, including taking care of a last minute snafu caused by another firm. Would use again and highly recommend.

    Derek Jackson Avatar Derek J.

    Working with Dan Ventura was a pleasure. He made my wife and I feel comfortable during the entire process. We felt assured that Dan had our best interest in mind and we felt confident that he would do a great job for us. I would highly recommend Dan to anyone looking for a montage.

    Allen Laferriere Avatar Allen L.

  • Dan helped me through the process of purchasing a home and made it a enjoyable exsperiecing. He worked hard and help me with the paperwork, it literally took just a few weeks and my wife and I owned a new beautiful home.

    Jeffrey Wray Avatar Jeffrey W.

    Dan was very helpful and made buying our first home a little less stressful by ensuring the whole mortgage process went smoothly from pre-approval through closing. He was always quick to answer questions and respond to our calls and emails.

    Kathryn Maynard Avatar Kathryn M.

    Dan was incredible! He helped us achieve our goal of a 30 day close with time to spare. We would recommend Dan and Fairway to any of our friends. We could not be happier!

    Brent Evansen Avatar Brent E.

  • Dan from Fairway was amazing. He is very polite, friendly and professional. We were in a rush to close on our home and Dan was able to get it done. He also help us increase our credit scores so we could get a better rate. For anyone looking to buy a home Fairway is your best option for a mortgage.

    James Gennetti Avatar James G.

    My husband and I have worked with Dan Ventura since 2013 during the purchase of our new home and multiple refinances since then. Dan is excellent to work with as he is professional, responsive and patient. He makes what can be a stressful and overwhelming process seem simple.

    Erica Warren Avatar Erica W.

    No doubt the best mortgage company. Dan Ventura and staff are knowledgeable and extremely attentive. I refer them every opportunity I have. Buying, financing and refinancing are difficult and stressful...they take all the pain away.

    Tracy Dodier Avatar Tracy D.

What are key advantages of a Jumbo Reverse Mortgage (over a Traditional HECM Reverse Mortgage)?

Access More Equity

Your age, the lending limits, the interest rate and the appraised value of your home all factor into how much money you’re able to receive with a reverse mortgage.

With a traditional HECM reverse mortgage, the home value limit that can be borrowed against is currently capped at $1,209,750—whereas that limit on a jumbo reverse mortgage can extend into the millions of dollars.

For example, let’s say Harold owns a home that is worth $1.5 million. With a Jumbo Reverse Mortgage Loan, he may be able to borrow against the full appraised value of the home, not the FHA maximum of $1,209,750 as he would with a HECM Reverse Mortgage Loan.

Avoid Paying a Mortgage Insurance Premium (MIP)

Jumbo reverse mortgages often have no mortgage insurance premium (MIP), which can reduce the overall loan costs.

With a HECM reverse mortgage, the FHA requires that the borrower pays both an initial and ongoing mortgage insurance premium (MIP), which helps make it a non-recourse loan. A non-recourse loan means if the balance on the loan exceeds the home value at the time the home is sold, neither you nor your heirs are responsible for paying the deficit. This feature on a HECM reverse mortgage loan is guaranteed by the FHA.

While most jumbo reverse mortgages are non-recourse loans, no jumbo reverse mortgages loans are insured by the FHA.

Less Restrictive Qualifications for Condos

Unlike a HECM reverse mortgage, with a jumbo reverse mortgage, condos do not necessarily have to be FHA-approved.

Curious About What You May Qualify For?

Fill out this short form and we’ll reach out as soon as possible.

By entering your contact information, you are providing express written consent for Fairway Independent Mortgage Corporation to contact you at the email and number you provided via telephone, mobile device, automated means like autodialing, text SMS/MMS, and pre-recorded messages, even if you are registered on a corporate, state, or federal Do Not Call list. You are also acknowledging and agreeing to our terms of service and privacy policy. Consent is not required to use our services.

*This advertisement does not constitute tax or financial advice. Please consult a tax and/or financial advisor regarding your specific situation.