Jumbo and proprietary reverse mortgages for higher-value homes
Jumbo reverse mortgages are proprietary products that may serve homeowners whose needs or home values exceed standard HECM limits.
Who may benefit from a jumbo reverse mortgage?
- Homeowners with properties valued above the standard HECM limit
- Borrowers between ages 55-61 who do not yet qualify for HECM
- Borrowers seeking a non-FHA option without mortgage insurance premiums
- Those with significant home equity who want access to larger loan amounts
| Feature | Typical Proprietary Program |
|---|---|
| Min age | 55 in qualifying states |
| Max home value | Up to $10 million |
| Max loan amount | Up to $4 million |
| MIP | No |
| Non-recourse | Yes |
| Debt consolidation | Allowed |
| Payment types | Fixed and ARM options |
Questions to ask about proprietary programs
Availability of proprietary reverse mortgage products changes regularly. Some programs are available in Utah, including products that allow borrowers as young as 55. Ask your Zenlo mortgage professional for current program availability in your state.
Proprietary programs may offer higher loan limits, younger borrower eligibility, and no mortgage insurance premiums. However, they are not federally insured and may carry different borrower protections. The right choice depends on home value, age, equity, and long-term plans.
Some proprietary programs support reverse mortgage purchase transactions. This lets eligible buyers use loan proceeds to purchase a new primary residence without a traditional monthly mortgage payment. Not all programs offer this feature.