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Jumbo Reverse Mortgages and Lenders

Is a jumbo reverse mortgage right for you? Learn more below and contact us with any questions!

What are Jumbo Reverse Mortgages?

Jumbo reverse mortgages are designed to provide a reverse mortgage solution to senior homeowners with properties with higher home values. Jumbo reverse mortgages allow for lending limits up to $4 million to accommodate homeowners who may be looking for a larger loan amount.

How Do I Qualify for a Jumbo Reverse Mortgage?

Jumbo reverse mortgage requirements are similar to reverse mortgage qualifications:

  • Borrowers must meet age requirements. For most jumbo reverse loans, you must be at least 55 years old (which can vary by state), while non-borrowing spouses and non-borrowing owners may be younger.
  • The home must be your primary residence and must remain so throughout the duration of your reverse mortgage.
  • You must continue paying property taxes, homeowners’ insurance, and home owners association (HOA) dues, if applicable.
  • Borrowers and non-borrowing spouses must attend a HUD-approved counseling session, which informs borrowers about how reverse mortgages work, the different requirements, and potential alternatives.
  • The maximum home value allowed with a jumbo reverse is $10 million.
  • As far as property type, you can take out a reverse jumbo loan on a one to four-family dwelling, as long as the borrower occupies at least one unit. Some HUD and FHA-approved condominiums are eligible as well.

Do you have questions about whether you qualify? Our experts are ready to help!

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What are the Jumbo Reverse Mortgage Limits?

Reverse mortgage limits are set by HUD, and this limit is the maximum amount you can borrow against for a HECM loan. For 2023, the maximum loan amount of $1,089,300. If you need access to more than that, a jumbo reverse mortgage is the answer. The lending limit for a jumbo reverse loan can go as high as $10 million. Because a reverse mortgage exceeds the FHA limits, it must be taken out with a private lender, making it a proprietary reverse mortgage.

Find a Reverse Jumbo Lender

Ready to get started with your jumbo reverse loan? Speak to an expert today!

Jumbo Reverse Loans vs. Traditional Reverse Mortgages

Traditional and jumbo reverse loans both allow you to access the equity in your home and turn it into cash, to then spend on whatever you wish, including vacations, medical expenses, home repairs or improvements, and more. Loan proceeds aren’t taxable, and they’re also non-recourse loans, which means you’ll never owe more than your home is worth.

With this said, there are some important distinctions between jumbo and traditional reverse mortgages. Here’s a table comparing the two:

Jumbo Reverse Traditional HECM Reverse
Borrower Minimum Age 55 (depending on state) 62
Maximum Proceeds Limit $4,000,000 $970,800 (2022)
Interest Rates Higher (fixed and adjustable line of credit) Lower (fixed and adjustable line of credit)
Payment Lump-sum or adjustable line of credit Lump sum, adjustable line of credit, monthly payments
FHA Insured?


Mortgage Insurance Premium (MIP)


Upfront and monthly

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