Reverse Mortgage · Jumbo / Proprietary
Jumbo Reverse Mortgage
A proprietary reverse mortgage for higher-value homes — compare it with a HECM when you need access beyond what FHA program limits allow.
What is a jumbo reverse mortgage? It is a proprietary (private) reverse mortgage used when a home's value is high enough that a standard HECM loan may not tap enough equity under FHA rules. Jumbo products are not FHA-insured; costs, ages, and protections differ — always compare a Loan Estimate, not a headline.
Who Is a Jumbo Reverse Mortgage For?
The federally insured HECM program uses an FHA lending limit when calculating how much home value can count toward proceeds — updated periodically by HUD. For homeowners with properties valued significantly above that limit, a HECM alone may not provide access to the full equity available.
A jumbo (proprietary) reverse mortgage is a private loan product that can allow access to equity on higher-value homes. It is not insured by FHA and follows its own program guidelines.
How It Differs From a HECM
| Feature | HECM | Jumbo |
|---|---|---|
| Insurance | FHA-insured | Private / not FHA-insured |
| Loan limit | Subject to FHA lending limit | Higher limits available |
| Minimum age | 62 | Varies by program (often 55+) |
| Property types | FHA-approved properties | Single-family, select condos |
| HUD counseling | Required | May vary by program |
Program details are subject to change. A licensed Ennkar loan officer will review current program availability and guidelines with you at no cost.
How You Can Receive the Funds
Proprietary (jumbo) reverse mortgage programs differ from HECM in how loan proceeds are disbursed. Most jumbo programs offer a single lump-sum disbursement at closing.
Lump Sum (most common)
The full loan amount is disbursed at closing in a single payment. Fixed or adjustable interest rates may apply depending on the program.
Line of Credit
Some proprietary programs offer a credit line that lets you draw funds as needed. Availability and growth features vary by lender and product.
Unlike HECM, most jumbo programs do not offer tenure monthly payments or term payment options. A licensed Ennkar loan officer will walk through the specific disbursement options available under the programs we offer.
General Requirements
- Borrower age varies by program — many Jumbo programs accept borrowers as young as 55
- Higher-value primary residence — typically homes valued above the current FHA lending limit
- Strong equity position in the property
- Financial ability to maintain property taxes, insurance, and upkeep
- Single-family homes and select condominium projects — program guidelines vary
Jumbo programs are offered by private lenders and not insured by the federal government. Program availability, terms, and loan amounts vary. This is not a commitment to lend. Ennkar, Inc. NMLS #976231. Licensed mortgage company in 16 states. Not all products available in all states. View licensing information · NMLS Consumer Access.
Not sure if a Jumbo or HECM is right for your situation? Learn about the HECM program or speak with a licensed Ennkar loan officer — no obligation.
Frequently Asked Questions
What is a jumbo reverse mortgage?
What is a proprietary reverse mortgage?
Who qualifies for a jumbo reverse mortgage?
These answers are for educational purposes only and do not constitute financial, legal, or tax advice. This is not a commitment to lend. Ennkar, Inc. NMLS #976231. Licensed mortgage company in 16 states. Not all products available in all states. View licensing information · NMLS Consumer Access.
Compare jumbo and HECM numbers educationally
Use our free reverse mortgage calculator for a preliminary estimate, then talk with a licensed Ennkar loan officer about HECM vs proprietary options for your home.
This is not a commitment to lend. Ennkar, Inc. NMLS #976231. Licensed mortgage company in 16 states. Not all products available in all states. View licensing information · NMLS Consumer Access.