Are There Different Types of Reverse Mortgages?

By ben63 | Updated: Feb. 10, 2025, 9:51 p.m.

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This video explains the differences between the two main types of reverse mortgages, the Home Equity Conversion Mortgage (HECM) and the proprietary (or jumbo) reverse mortgage.

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ARE THERE DIFFERENT TYPES OF REVERSE MORTGAGES?
RETIRE RIGHT MORTGAGE NMLS # 2459526
 © 2023 All Rights Reserved
Home Equity Conversion Mortgage / HECM
 
RETIRE RIGHT MORTGAGE NMLS # 2459526 © 2023 All Rights Reserved

Insured by Federal Housing Administration / FHA
Jumbo / Proprietary
2 Types of Reverse Mortgages
Most Common Type of Reverse Mortgage
Maximum Value for Calculation $1,089,300
Minimum Age 62
Home Values Over $1,089,300

Minimum Age 55
Loan Amounts up to $4,000,000
Unlock Housing Wealth Stored in Home
Jumbo / Proprietary
(800) 677-9844 Toll Free
www.retirerightmortgage.com
NMLS #2459526
© 2023 Retire Right Holdings DBA Retire Right Mortgage, NMLS #2459526 
1-800-677-9844. 170 S. Green Valley Pkwy Suite 300, Office 307, Henderson, NV 89012; Retire Right Mortgage is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency. Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. The youngest borrower must be at least 62 years old to qualify for a HECM, or 55 years old to qualify for a proprietary reverse mortgage. Monthly reverse mortgage advances may affect eligibility for some other programs. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Equal Housing Opportunity. AZ License MB-1046659; Licensed by the Department of Financial Protection and Innovation under the California Finance Law, NMLS#2459526.
(800) 677-9844 Toll Free
www.retirerightmortgage.com
NMLS #2459526

Are There Different Types of Reverse Mortgages?

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