Proprietary reverse mortgages are loan programs offered by some lenders and are not FHA-insured. They are not bound by county lending limits or standard FHA requirements but do have their own set of qualifications that differ from the FHA-insured HECM program. They do have some of the same features as a standard HECM as they are a negatively amortizing, non-recourse loan with no required monthly mortgage payments. The proprietary programs are growing in popularity; these loans are particularly advantageous to those with homes valued more than their county lending limit.

Equity Elite Program Can be used to refinance or purchase a new home valued at up to 4 million with no monthly mortgage payments.

• Available to people as young as 55 in Oregon and California! (Aged 60 in Washington)
• Lower closing costs than a traditional HECM
• No mortgage insurance premium
• Can be used for some non-FHA approved condo projects
• Max loan amount is up to 4 million
• Line of Credit available in Oregon and California

Wondering how much you may qualify for or if this program is a good fit for you? Call us today at 503-427-1667 or Click Here to see if you’re eligible.

*Available in Oregon, California, and Washington. Visit www.reversefunding.com/equity-elite for details.

†With this pricing option, the borrower receives a lender credit covering nearly all closing costs. There is a non-refundable independent counseling fee of approximately $125 on average, which the borrower pays directly to the counseling agency. Terms and conditions apply. Not available in all states.

Equity Elite Program Reverse Mortgage (“Equity Elite”) is Reverse Mortgage Funding LLC’s proprietary loan program, and it is not affiliated with the Home Equity Conversion Mortgage (HECM) loan program, which is insured by FHA. Equity Elite is available to qualified borrowers who may also be eligible for FHA’s HECM program or are seeking loan proceeds that are higher than FHA’s HECM program limit. Equity Elite currently is available only for eligible properties in select states. Please contact your loan originator to see if it is currently available in your state. Visit www.reversefunding.com/equity-elite for details and additional disclosures