Originating: The Jumbo Option 

Jumbo reverse mortgages are designed for homeowners who want to borrow more than the FHA maximum amount or for situations in which the borrower would not qualify under FHA’s HECM rules.Today, there are two types of reverse mortgages available: FHA-insured Home Equity Conversion Mortgages, and the newest iteration of a proprietary reverse mortgage frequently referred to as a jumbo reverse mortgage. Jumbo reverses were prevalent 10 years ago, but they largely disappeared with the demise of the asset-backed securities market in 2008. Most prospective borrowers believe they can borrow about half or more of the value of their home. The