What Is a Proprietary Reverse Mortgage?
If you’re a Florida homeowner with a high-value property and looking to access more of your home’s equity than a traditional reverse mortgage allows or own a condo that is not eligible for a traditional HECM, you may want to consider a proprietary reverse mortgage. Sometimes known as a jumbo reverse mortgage, this private loan product is designed for homes that exceed FHA lending limits - and offers powerful benefits for retirees looking to enhance their financial freedom, and has recently found a dual use as a fallback option for non-FHA approvable condos.

At Florida’s Best Reverse Mortgage Company, we specialize in helping seniors understand their Florida reverse mortgage options - including proprietary reverse mortgage solutions that can unlock hundreds of thousands (or even millions) in home equity.

Understanding the Basics of a Proprietary Reverse Mortgage

A proprietary reverse mortgage is a non-government-insured loan provided by private lenders. Unlike the federally backed Home Equity Conversion Mortgage (HECM), which is limited by FHA loan caps, proprietary reverse mortgages are designed for high-value properties - making them ideal for Florida homeowners with homes valued at $1 million or more.

These loans allow you to access a larger portion of your equity, without making monthly mortgage payments, and without being restricted by FHA regulations. Most programs are also available to homeowners as young as 55, making them more accessible to a wider group of borrowers.

Key Features and Benefits

1. Larger Loan Amounts
Traditional Florida reverse mortgages cap the available loan amount based on the FHA lending limit (currently $1,209,750 in 2025). With a proprietary reverse mortgage, there’s no FHA cap, which means significantly more cash available to qualified borrowers (Up to $6 Million for ultra-high value homes!)

2. No Mortgage Insurance Premiums
Unlike HECMs, proprietary reverse mortgages don’t require upfront or ongoing FHA mortgage insurance, potentially saving thousands of dollars over the life of the loan.

3. More Flexible Property Types
Proprietary products often include non-FHA-approved condos, luxury homes, and unique property types that may not qualify for HECM loans.

4. No Monthly Mortgage Payments
As with all reverse mortgages, repayment isn’t required until the home is sold, no longer occupied, or the borrower passes away. You retain ownership of your home and remain on title.

5. Lower Minimum Age in Some Cases
Many proprietary reverse mortgage lenders allow borrowers to apply as young as age 55, while HECM loans are only available to those 62 and older.

Who Should Consider a Proprietary Reverse Mortgage?

A proprietary reverse mortgage may be right for you if:

• Your Florida home is valued above $1 million
• You’re under 62 but over 55
• You live in a condo that isn’t FHA-approved
• You want to avoid FHA mortgage insurance costs
• You need access to more cash than a HECM allows

It’s a perfect fit for homeowners who are “equity rich” but want to remain financially flexible without giving up ownership or moving out.

How Can the Money Be Used?

The funds from a proprietary reverse mortgage are tax-free and can be used for any purpose, including:

• Paying off your current mortgage or other debts
• Supplementing retirement income
• Renovating your home for aging in place
• Covering long-term care or medical expenses
• Helping family with financial support
• Creating a safety net or emergency fund

There are no restrictions on how you use your funds, and no required monthly repayments.

Work With Local Experts You Can Trust

At Florida’s Best Reverse Mortgage Company, we offer unmatched expertise in proprietary and jumbo reverse mortgages. With offices throughout the state of Florida, we provide local, face-to-face service and personalized consultations throughout the state.
We believe in transparent communication, no-pressure education, and tailored solutions that help you make the most of your retirement - your way.

Ready to See What You Qualify For?

If you’re a Florida homeowner with a high-value property, a proprietary reverse mortgage could be the key to unlocking more equity and more financial freedom. Contact us today to find out how much you could access—quickly, safely, and with guidance from a trusted local team.

Call Today: 844-352-2378
Or CLICK HERE for a FREE Reverse Mortgage Information Kit!
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