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The Jumbo Reverse Credit Line

Introducing The Jumbo Reverse Credit Line

an older couple shaking hands with a woman while sitting at a tableIntroducing a powerful new retirement financing tool that allows you to maximize your home equity. The Jumbo Reverse credit line is a proprietary reverse credit line designed for homeowners with higher-valued properties. They can access more equity than what is available through a traditional FHA-Insured Home Equity Conversion Mortgage (HECM).

With a Jumbo Reverse Credit Line, you can pay off existing mortgages as well as access additional funds Tax-Free. There are NO required mortgage payments, just like the FHA-Insured HECM reverse mortgage.

In summary, a Jumbo Reverse Credit Line can be a valuable option for higher-valued homeowners who need to access a substantial amount of equity.

Home Equity is a powerful financial tool that can be a viable option to your overall retirement goals. 

With over 25 years of experience helping individuals like you plan for a secure future, we are confident that we can offer valuable alternatives for your higher-valued home.

Let’s have a conversation about your retirement goals!

Call Us 800-822-1190

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Key Differences: HECM Credit Lines vs. Jumbo Credit Lines

  • Higher Loan Limits:  Traditional HECM’s are limited by FHA’s lending limit of $1,209,750.  While Jumbo’s can offer Credit Lines up to $4 million.
  • No FHA Mortgage Insurance Premiums:  Jumbo’s are not Federally Insured, so there’s less regulation giving lenders more flexibility in setting terms.
  • Younger Age Eligibility:  Minimum age is only 55+ whereas HECM’s require at least one borrower to be 62 or older.
  • Property Eligibility:  Jumbos are more flexible regarding property types, with some allowing non-FHA approved condos.

Benefits of the Jumbo Reverse Credit Line

  • Flexible payments: You can pay Interest Only, Principal & Interest or pay Nothing at all! (It’s completely your option every month)
  • Supplement your income with continuous monthly withdrawals, just like a annuity or pension.
  • Pay off outstanding consumer debts like high interest credit cards.
  • Complete home repairs or improvements without worrying about taking on additional debt.
  • Protection for a surviving spouse from lost income.
  • Replenish your cash reserves.
  • Use the credit line to pay high property taxes.
  • Protect your retirement investments from market crashes.
  • Support “aging in place” expenses with specific home modifications.
  • Pay for medical or dental emergencies or for long term care.
  • Help your children or grandchildren with some advanced inheritance money.
  • Or any other purpose!

Jumbo Reverse Credit Line Offers unique Advantages:

  • Maximum Loan Amount up to $4 million 
  • No annual MIP (Mortgage Insurance Premium)
  • No pre-payment penalties or maturity date
  • Credit Line LIMIT increases automatically every year for the first 7 years
  • Jumbo Reverse Credit Line will NOT decrease, close or be frozen
  • Same non-recourse feature as the FHA HECM

Minimal Eligibility Requirements:

  • Minimum Age is 55 (FHA HECM reverse mortgage is 62)
  • Minimal credit & income requirements
  • Can be used for SFR 1-4 units, Townhomes and Condos
  • Primary residence only
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Call Your Personal Advisor Today

Start living your retirement your way. Senior Lending Corporation is a jumbo credit line company with a team of licensed advisors ready to answer your call at 800-822-1190. We’ll answer your questions about reverse mortgages and help you decide whether a jumbo reverse mortgage is the right choice for you and your family. Connect with us today to start enhancing your retirement now.

800-822-1190

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