New Jumbo Reverse Mortgage Options for 2019
Home owners have 5 new jumbo reverse mortgage options for 2019.
In the Spring of 2018, homeowners with considerable equity, and homes worth over $900,000 had one jumbo reverse mortgage choice: a fixed rate loan that required all proceeds be distributed at closing. Many homeowners didn’t want all that cash on day one. Many new jumbo reverse mortgage options were introduced in the later part of 2018. All offered larger loan amounts, i.e., more cash out.
New innovations include a fixed-rate 5-yr delayed disbursement loan, a jumbo line of credit loan, a jumbo second mortgage without a monthly payment, and ...