Residential
Jumbo Reverse Mortgage
Unlock the equity in your high-value home with a Jumbo Reverse Mortgage from CMRE. This unique loan program allows homeowners aged 62 and older to access funds without selling their home or making monthly mortgage payments, all while maintaining ownership. With rates starting at 6.875%, explore how a Jumbo Reverse Mortgage can provide financial flexibility and security in your retirement.
Program Benefits
Access a portion of your home's equity without selling your home.
Eliminate monthly mortgage payments; you're only responsible for property taxes, homeowner's insurance, and property maintenance.
Maintain ownership and control of your home.
Enjoy tax-free access to funds, which can be used for various purposes, such as healthcare, home improvements, or travel (consult with a tax advisor).
Benefit from the flexibility of receiving funds as a lump sum, monthly payments, a line of credit, or a combination thereof.
Potentially increase your retirement income and improve your overall financial well-being. Starting rates at 6.875%.
Program Highlights
Max LTV
97%
Min Credit Score
620
Max DTI
50%
Loan Amount Range
Contact us for loan range details specific to your situation.
Amortization Options
Eligible Properties
- Single Family Home
- Condo
- Townhouse
Program Requirements
Income Documentation
- •Demonstrate the ability to continue paying property taxes and homeowner's insurance.
- •Provide documentation of sufficient income or assets to cover ongoing property charges.
- •Stable income history preferred, though not always required, depending on the loan structure.
Asset Verification
- •Sufficient assets to cover property taxes, homeowner's insurance, and property maintenance.
- •Assets may include savings accounts, retirement accounts, and other investments.
- •Verification of asset ownership and value will be required.
Insurance & Title
- •Maintain continuous homeowner's insurance coverage.
- •Flood insurance may be required if the property is located in a flood zone.
- •Proof of insurance coverage must be provided.
Property Requirements
- •Minimum FICO score of 620 is required.
- •A credit history review will be conducted to assess your financial responsibility.
- •While a strong credit history is preferred, compensating factors may be considered.
- •Past credit issues may require further explanation and documentation.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
Generally, you must be at least 62 years old, own the home outright or have a low mortgage balance, and occupy the home as your primary residence. You also need to demonstrate the ability to pay property taxes, homeowner's insurance, and maintain the property.
The loan amount is determined by factors such as your age, the appraised value of your home, and the current interest rates. Higher-valued homes typically qualify for larger loan amounts.
When you sell the home or pass away, the loan balance, including accrued interest and fees, must be repaid. Any remaining equity belongs to you or your estate.
Yes, you are responsible for paying property taxes, homeowner's insurance, and maintaining the property. Failure to do so could result in foreclosure.
The interest rate on a Jumbo Reverse Mortgage can be fixed or adjustable. With an adjustable rate, the rate may change over time, impacting the amount of interest that accrues on the loan.
Sam K.
Senior Loan Strategist
With over 15 years in the mortgage industry, Sam specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.
NMLS #12345 | Certified Mortgage Advisor (CMA)
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
