What is a Jumbo Reverse Mortgage?

Jumbo Reverse Mortgage Definition

A jumbo reverse mortgage is a reverse mortgage issued on a home with a value above the FHA’s maximum amount. Currently, the FHA will not insure reverse mortgages on homes with values that exceed $679,650. All jumbo reverse mortgage loans are offered by private lenders without government backing. Therefore, the fees and charges associated with them can be very different from FHA loans.

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