Jumbo Reverse Mortgages

Unlock More Equity from Your High-Value Home

If you're a Florida homeowner aged 55 or older with a high-value property, a Jumbo Reverse Mortgage could be your key to accessing more of your home equity than a traditional reverse mortgage allows. With Florida’s real estate values soaring, especially in coastal cities like Naples, Sarasota, Boca Raton, and Miami, many seniors find that a traditional reverse mortgage in Florida (Home Equity Conversion Mortgage (HECM)) doesn’t offer enough loan proceeds for their needs.

In this blog, we’ll explain exactly what a jumbo reverse mortgage is, how it works, who qualifies, and why retirees interested in a Florida reverse mortgage are turning to this powerful financial solution to enhance their lifestyle and long-term retirement strategy.

Jumbo Reverse Mortgage


What Is a Jumbo Reverse Mortgage?

A jumbo reverse mortgage is a proprietary loan designed for seniors with high-value homes—typically worth over $$1,209,750, which is the 2025 FHA lending limit for HECM reverse mortgages, and allows for loan amounts up to $6 Million!

Unlike traditional HECMs, which are insured by the Federal Housing Administration (FHA), jumbo reverse mortgages are offered by private lenders. These loans are not government-backed but come with their own safeguards and competitive terms tailored for luxury or higher-value properties.


Key Features of Jumbo Reverse Mortgages in Florida

Jumbo reverse mortgages offer several distinct benefits for Florida homeowners:


  • Higher lending limits (up to $6 million or more, depending on the lender)

  • No monthly mortgage payments required

  • Tax-free access to equity

  • No mortgage insurance premiums (MIP)

  • Remain the owner of your home

  • Available for primary residences, including condos and select second homes

  • Non-recourse loan protection – you or your heirs never owe more than the home is worth

This makes Florida jumbo reverse mortgages an attractive option for seniors living in high-end areas of Florida such as Miami Beach, Fort Lauderdale, or Key West, where home values often exceed the FHA limit.

Who Qualifies for a Jumbo Reverse Mortgage?

To be eligible for a jumbo reverse mortgage in Florida, you must generally meet these criteria:

  • Be at least 62 years old

  • Own a high-value home, typically over $1.2M

  • Live in the home as your primary residence

  • Have sufficient equity in the home

  • Pass a financial assessment to ensure property tax, insurance, and HOA obligations can be met

Some jumbo products also allow younger borrowers (as young as 55) and offer expanded property types, including some non-FHA-approved condominiums, which are common throughout Florida.

Why Florida Seniors Choose Jumbo Reverse Mortgages

Florida has one of the largest senior populations in the country and an abundance of high-value real estate. Many retirees in Florida are “house rich but cash poor” - owning valuable homes but lacking liquid income. A jumbo reverse mortgage offers a flexible, tax-free solution for:

  • Supplementing retirement income

  • Covering long-term care or medical costs

  • Paying off an existing mortgage

  • Funding estate planning or gifting to heirs

  • Aging in place in a luxury home without monthly payments

Whether you're in a waterfront property in Naples or a gated golf community in Sarasota, a jumbo reverse mortgage gives you control of your financial future—without giving up the home you love.





How Florida Jumbo Reverse Mortgages Differ From HECMs

Feature

     HECM (FHA)  

     Jumbo Reverse Mortgage

Loan Limit

     $1,209,750

     $6 million+

Mortgage Insurance

     Required

     Not required

Property Types

     FHA-approved only

     Broader eligibility

Government-Backed

     Yes

     No (private lenders)

Interest Rates

     Fixed or adjustable

     Often fixed, sometimes lower



While both products eliminate monthly mortgage payments, jumbo reverse mortgages are more customizable, especially for affluent homeowners in Florida.

Are Jumbo Reverse Mortgages Safe?

Yes. Even though they are not federally insured, jumbo reverse mortgages in Florida are still non-recourse loans - meaning you (or your heirs) will never owe more than the home’s appraised value at the time of sale.

Many reputable lenders include strong consumer protections such as:

At Florida’s Best Reverse Mortgage Company, we work only with top-rated lenders that specialize in jumbo products and follow strict ethical standards.

 

How to Get a Jumbo Reverse Mortgage in Florida

Getting started is simple:

  • Contact us, Florida’s Best Reverse Mortgage Company

  • Receive a no-obligation consultation and home value estimate

  • Complete independent counseling (required for all reverse mortgages)

  • Submit your application and home appraisal

  • Close the loan and receive your funds as a lump sum or line of credit

From Naples to Orlando to Fort Lauderdale, we help seniors across Florida access the equity they’ve earned—quickly, safely, and confidently.

Jumbo Reverse Mortgage in Florida


Is a Florida Jumbo Reverse Mortgage Right for You?

If you’re a Florida homeowner with a high-value property and you are interested in a Florida reverse mortgage and want to maximize your home equity without sacrificing your lifestyle, a jumbo reverse mortgage could be a perfect fit. With no monthly payments, no MIP, and greater borrowing power, it offers unmatched flexibility for today’s financially savvy retirees. call us now at 844-352-2378 to learn more and find out how much you might qualify for!