March 19, 2023
What is a jumbo reverse mortgage?
MortgagekivablgA jumbo reverse mortgage is a reverse mortgage loan that exceeds the loan limit set by the Federal Housing Finance Agency (FHFA). In most areas of the United States, the loan limit is $625,000. However, in high-cost areas, the limit can be as high as $636,150. Jumbo reverse mortgages are available through private lenders, and they typically have higher interest rates and fees than standard reverse mortgages. Recommended: What not to do when applying for a mortgage? What is a mortgage call report? 1. What is a jumbo reverse mortgage? […]