Page 5 - WS_Jumbo Booklet
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What are your obligations with a jumbo
reverse mortgage loan?
Borrowers must continue paying property taxes, homeowners’
insurance, maintain the home, live in the home, and otherwise
comply with the loan terms.
How can you access funds?
Jumbo reverse mortgage loan proceeds can be accessed in the
following ways:
Lump Sum Payout: Monthly Installments:
Access 100% of your Receive 60% of your eligible
eligible loan proceeds at loan proceeds at closing,
closing, maximizing your with an option to take the
cash payout to pay off large remaining funds as fixed
expenses. monthly payments for a term
of up to five years.
Line of Credit:
Lifetime access to your
jumbo reverse mortgage
loan as a line of credit.
A Guide to Jumbo Reverse Mortgage Loans 5
