Platinum Proprietary Reverse Mortgage

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Platinum Proprietary Reverse Mortgage

The Platinum proprietary reverse mortgage is a private loan offered through Longbridge Financial and is not FHA-insured. They can be used by homeowners as young as 55 in most states and are not bound by county lending limits or standard FHA requirements. They have their own qualifications that differ from the FHA-insured HECM program.

The Platinum proprietary reverse mortgage does have some of the same features as the FHA HECM program:

•Negative amortization


•No required monthly mortgage payments

As a reverse mortgage broker, we offer the Platinum proprietary reverse mortgage in Oregon, Washington, Idaho, and California. If you live in or are considering moving to one of these states, reach out to us today for a custom snapshot of your options. Rates can change weekly and can affect your eligibility and benefit amount so it's important to get updated information often.

Platinum proprietary reverse mortgages can be used to purchase or refinance a higher-valued home. 

  • Available to people 55 or older (in most states) on their primary residence
  • Lower closing costs than a traditional HECM
  • No mortgage insurance premium
  • Can be used for some non-FHA-approved condo projects
  • Max loan amount of 4 million
  • Line of credit feature available in some states
  • Only available on homes valued at $450,000 or more.

Compared to a HECM, the Platinum proprietary reverse mortgage has low upfront costs and no mortgage insurance premiums, which can save clients thousands over the life of the loan. With similar borrower protections as the standard HECM and fewer restrictions, the Platinum proprietary reverse mortgage may be the ideal fit for you.

Wondering how much you may qualify for or if this program is a good fit for you?  Call us at 503-427-1667 to discuss or fill out the form here for an estimated loan snapshot:

Other Information:

Restrictions, terms, and conditions apply. We offer the Platinum Proprietary Program in Oregon, Washington, Idaho, and California. The Line of Credit feature is not yet available in Washington.

Platinum Program is Longbridge Financial LLC’s proprietary loan program, and it is not affiliated with the Home Equity Conversion Mortgage (HECM) loan program, which is insured by FHA. Platinum 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. Platinum currently is available only for eligible properties in select states. Please contact us to see if it is currently available in your state. Visit for details and additional disclosures.

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© 2019 Northwest Reverse Mortgage, LLC NMLS #1834787

Licensed in Oregon, Washington, California and Idaho

Office: (800) 806-1472
Toll Free: (800) 806-1472
Fax: (541) 253-4370

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Northwest Reverse Mortgage
10121 SE Sunnyside Rd
Ste 300
Clackamas, OR 97015
Phone: (503) 427-1667

Gresham Area

Northwest Reverse Mortgage, LLC. ML- 5797/ CL-1834787/ DFPI# 60DBO-140333. Equal Opportunity Mortgage Broker licensed in Oregon, Washington, Idaho and California. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. 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.