Best Jumbo Reverse Mortgage Lenders

Latest update: August 31, 2020


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If your home value is appraised higher above the traditional HECM limit of $822,375 and looking into a reverse mortgage or refinance loan, check out our top pick of jumbo reverse mortgage lenders to see which option is a better solution for you.

Is a Jumbo Right for Me?

Are you contemplating whether or not you should do a HECM or a jumbo reverse mortgage? Both offer you the same benefits – remaining in the home you love, or tax free cash from your home’s equity – but it is up to you to decide which one best fits your personal needs. Let’s dig a little deeper and decipher between the two. 

Jumbo reverse mortgages are loans designed and offered by financial institutions that enable owners of high-value homes to access greater amounts of their home’s equity. Typically, a jumbo reverse mortgage is for borrowers with home values over the FHA HECM national lending limit of $822,375. Depending on the jumbo reverse mortgage program the lending limit can vary anywhere from 4 million to 6 million.  

You have come to the right place if you are a senior citizen and are looking to maximize your equity.  At South River Mortgage we offer jumbo reverse mortgages to senior citizens that are 60 years and older. There are different reverse mortgage programs you can choose from that include: 

  • HomeSafe by FAR 
  • AAG Advantage  
  • RMF Equity Elite

The first program is HomeSafe by FAR which will use your proceeds to pay off your current mortgage. Then the remainder of proceeds will be received in cash. Lucky for you, HomeSafe loan limits go up to 4 million which are much higher than HECM loans. On top of that, you can enjoy the luxury of no mortgage insurance premiums, competitive fixed interest rates, and no out-of-pocket funds. 

The second program is AAG Advantage which allows older Americans to access up to 4 million dollars of tax-free cash from the equity in their home. If you feel like the value of your home has increased feel free to refinance so you can supplement your income. We want all of our borrowers to receive maximum proceeds to fulfill their wants and needs. 

The third program is RMF Equity Elite which allows you to access more of your home’s equity sooner and with fewer limitations. There is no limit on the amount of proceeds you can take out in the first 12 months and there is no insurance premium cost. With this program you will be able to keep more money in your pocket and be more financially prepared for the future.  

However, some of you should still consider a HECM over a jumbo reverse mortgage. A HECM is federally insured, while jumbo is not. A jumbo reverse mortgage generally has higher rates and lower limits as a result. On the other hand, there is no required mortgage insurance premium. Even though your home may exceed HECM lending limits, it may still be better for you because you’ll be able to access a higher percent of equity. 

Give us a call today! At South River Mortgage, we understand everyone has different needs and wants. We are here to guide you, but it is up to you to determine which option best fits your financial goals. Jumbo reverse mortgages give you more options and the ability to choose whether or not you wish to capitalize on a program that looks at the full value of your home.

Finance of America Reverse

Great Service |

  • Excellent Customer Reviews
  • Competitive Pricing

Finance of America Reverse is one of the top jumbo reverse mortgage wholesale lenders. They offer reverse mortgages, second mortgages as well as loan refinancing to eligible individuals.

Longbridge Financial

Fast Communication |
  • Quote Calculator
  • Financial Advisor

Longbridge Financial, LLC is an innovative company committed to responsibly helping homeowners reshape their financial future by educating them on Home Equity Conversion Mortgages (HECM)—and helping them unlock the power of their homes.

American Advisors Group (AAG)

A+ Accredited |

  • 98% customer satisfaction
  • Free Info Kit

If you’re like many Americans, your house is your greatest asset.  Learn about the tools available to help you tap into this important resource and create a sound financial plan that will help you retire more than just “good”.