Jumbo HomeSafe Program

Jumbo HomeSafe Program

Jumbo HomeSafe Program
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

Jumbo HomeSafe Can be used to refinance or purchase higher valued homes.

  • All borrowers must be 62
  • Gain access to more equity on high-value properties
  • No mortgage insurance required
  • No capital gains tax*
  • Access all of your loan proceeds in one lump sum

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 find out if you are eligible.

*Capital gains taxes are only due upon a sale. A Jumbo Reverse Mortgage is a loan, secured by a mortgage on your home, and does not require sale of the home. The proceeds of a loan are not taxable as income.

Who should consider a proprietary reverse mortgage?

-People with higher valued properties or who are shopping for properties valued more than the FHA county lending limit.

-Properties that are not FHA eligible

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Licensing

© 2019 Northwest Reverse Mortgage, LLC NMLS #1834787

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Contact Us

Northwest Reverse Mortgage
10121 SE Sunnyside Rd
Ste 300
Clackamas, OR 97015

Number:
(503) 427-1667

Hours:
MON-FRI 8AM - 5PM

Northwest Reverse Mortgage, LLC. NMLS 183-4787. Equal Housing Lender. Credit on approval. Terms subject to change without notice. Not a commitment to lend. Contents not provided by, or approved by FHA, HUD or any other government agency. All potential tax benefits should be verified with a professional licensed tax advisor. NMLS Consumer Access

At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds; charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees; the loan balance grows over time and interest is charged on the outstanding balance; the borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home; interest on a reverse mortgage is not tax deductible until the borrower makes partial or full re-payment.