Jumbo Reverse Mortgage Loans

Unlock more of your high-value home’s equity and open the door to possibilities in retirement.

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At Fairway, we are committed to helping you find the right reverse mortgage loan for your unique situation.
If you are aged 62 or over* and want to take out a reverse mortgage on a high-value home (e.g., a home worth over a $1 million), a Jumbo Reverse Mortgage loan offers some distinct advantages over a traditional Home Equity Conversion Mortgage (HECM), the most common type of reverse mortgage.

What Are Key Advantages of a Jumbo Reverse Mortgage (Over a Traditional HECM Reverse Mortgage)?

Access More Equity

Your age, the lending limits, the interest rate and the appraised value of your home all factor into how much money you would be able to receive with a reverse mortgage.

With a traditional HECM reverse mortgage, the home value limit that can be borrowed against is currently capped at $1,149,825—whereas that limit on a Jumbo reverse mortgage can extend into the millions of dollars.

For example, let’s say Harold owns a home worth $1.5 million. With a Jumbo Reverse Mortgage loan, he may be able to borrow against the full appraised value of the home, not the FHA maximum of $1,149,825 as he would with a HECM.

Avoid Paying a Mortgage Insurance Premium (MIP)

Jumbo Reverse Mortgages often have no mortgage insurance premium (MIP), which can reduce the overall loan costs.

With a HECM, the FHA requires that the borrower pays both an initial and ongoing MIP, which helps make it a non-recourse loan. This means if the balance on the loan exceeds the home value at the time the home is sold, neither you nor your heirs will be responsible for paying the deficit, a feature guaranteed by the FHA.

While most Jumbo Reverse Mortgages are non-recourse loans, they’re not insured by the FHA.

Less Restrictive Qualifications for Condos

Unlike a HECM, with Jumbo loans, condos don’t necessarily have to be FHA-approved.

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Myths and Facts FAQs 10-Step Process What’s a HECM? Homebuying Advantages Jumbo Reverses
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*Some proprietary products may be available as early as 55 years of age.

Copyright©2026 Fairway Independent Mortgage Corporation (“Fairway”) NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-866-912-4800. All rights reserved. Fairway is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency. Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. The youngest borrower must be at least 62 years old. Monthly reverse mortgage advances may affect eligibility for some other programs. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Equal Housing Opportunity.