Proprietary Reverse Mortgage in Washington

A Trusted Solution for Washington Seniors to Access Home Equity and Gain Financial Freedom in Retirement

Unlocking More Equity for High-Value Homes

Stay in Your Home While Accessing Equity

With a HECM, you can convert part of your home’s equity into cash without having to sell or move. This allows you to age in place and maintain homeownership while supplementing your income.

No Monthly Mortgage Payments Required

Unlike traditional loans, a HECM doesn’t require monthly mortgage payments. You remain responsible for property taxes, insurance, and home maintenance—but the loan is only repaid when the home is sold or the borrower moves out permanently.

Flexible Payout Options to Fit Your Needs

HECMs offer various disbursement options, including a lump sum, monthly payments, a line of credit, or a combination. This flexibility allows you to tailor the loan to your financial goals and lifestyle.

Proprietary Reverse Mortgage Calculator – Unlock More Home Equity

If your home is valued above the federal HECM lending limit (currently $1,149,825 in 2024), a Proprietary Reverse Mortgage—also called a Jumbo Reverse Mortgage—may be the key to unlocking more of your home’s equity.

Use our Proprietary Reverse Mortgage Calculator to estimate how much you could qualify for based on your home’s market value, your age, and current lending conditions.

Proprietary Reverse Mortgage Calculator

Non-FHA Private Lender Options for Higher-Value Homes

$

Program Information: Jumbo Reverse

  • Maximum Loan Amount: $4,000,000
  • Minimum Home Value: $700,000
  • No FHA Mortgage Insurance Premium (MIP)
  • 2.0% Origination Fee (Max: $15,000)

Note: This is an estimate. Your actual eligibility and loan amount will depend on a full financial review and HUD counseling.

Understanding HECM Reverse Mortgages in Washington

If you’re a homeowner in Washington State and your home is worth more than the FHA lending limit (currently $1,149,825 in 2024), you may benefit from a Proprietary Reverse Mortgage—also known as a Jumbo Reverse Mortgage. Unlike standard government-backed HECM loans, proprietary reverse mortgages are privately funded and designed to help you access more equity from high-value homes.

Let’s explore how proprietary reverse mortgages work in Washington and whether they’re the right fit for you.

What Is a Proprietary Reverse Mortgage?

A proprietary reverse mortgage is a private reverse mortgage loan offered by lenders (not insured by the federal government). These products are designed for:
high-value-homeowners-wa-jumbo-reverse-mortgage-online
  • Homes valued above the FHA HECM limit
  • Borrowers who want to access larger loan amounts
  • Seniors looking for flexibility and fewer restrictions

These loans offer similar benefits to HECM reverse mortgages—but with higher limits, more customization, and less red tape.

How Proprietary Reverse Mortgages Work in Washington

Washington homeowners can take advantage of proprietary reverse mortgages under the same general framework as HECM loans, but with some key differences tailored to jumbo loan scenarios.

Washington-Specific Highlights:

  • Available to homeowners 62 or older (some programs start at age 60)
  • Ideal for high-value homes in areas like Seattle, Bellevue, Kirkland, Issaquah, Spokane, and other strong markets
  • No federal lending cap (can access millions in home equity, depending on value)
  • No mortgage insurance premiums (MIP)
  • Faster and more flexible underwriting process
  • Still includes protections like non-recourse terms (you never owe more than the home’s value)

HECM vs. Proprietary Reverse Mortgage in Washington

Feature HECM (FHA Reverse Mortgage) Proprietary Reverse Mortgage
Backed By FHA (federally insured) Private lenders
Maximum Home Value (2024) $1,149,825 No limit (can exceed $10M)
Mortgage Insurance Required Not required
Ideal For Moderate home values High-value homes
Loan Limits

Capped

Much higher
Age Requirement 62+ 60–62+ (depending on program)

Benefits of a Proprietary Reverse Mortgage in Washington

  1. Access more cash from high-value homes
  2. No monthly mortgage payments
  3. Flexible payout options: lump sum, line of credit, or term payments
  4. No MIP or FHA fees
  5. Keep the title and ownership of your home
  6. Heirs can repay or sell the home when the loan becomes due

Who Should Consider a Proprietary Reverse Mortgage in Washington?

A proprietary reverse mortgage may be ideal for you if:

  • Your home value exceeds $1.15M
  • You want to access more equity than HECM allows
  • You prefer to avoid FHA mortgage insurance
  • You want greater flexibility with how funds are distributed
seattle-senior-couple-researching-private-reverse-loans

Work with a Trusted Washington Reverse Mortgage Specialist

At C2 Financial Corporation, we offer both HECM and proprietary reverse mortgage options tailored to Washington State homeowners. Whether you live in a luxury home in Seattle, a lakefront property in Kirkland, or a custom estate in Redmond, our team will help you find the best loan for your situation.

We also leverage AI-powered tools to streamline document processing, speed up approvals, and ensure a more seamless experience.

Get a Free Quote Today

Ready to explore how much equity you could access through a Proprietary Reverse Mortgage in Washington? Contact us today for a personalized consultation and quote.

Reverse Mortgage Frequently Asked Questions

1. What is a reverse mortgage?
A reverse mortgage is a unique home loan for homeowners 62 or older that allows you to convert home equity into cash, without selling your home or making monthly payments. It’s popular among retirees who want to stay in their homes while accessing extra income in retirement.

2. Am I eligible for a reverse mortgage?

To qualify, you must be:

  • 62 years or older

  • Own your home or have substantial equity

  • Live in the home as your primary residence

  • Able to maintain the home and keep up with property taxes and insurance

Eligibility may vary slightly between HECM reverse mortgages (FHA-backed) and proprietary reverse mortgages.

3. How does a reverse mortgage work?

Once approved, a reverse mortgage allows you to receive cash payments, a lump sum, or a line of credit using the equity in your home. You continue living in your property, and the loan is repaid when you move, sell the home, or pass away.

4. How much money can I get from a reverse mortgage?

The amount depends on your:

  • Age

  • Home’s value

  • Current interest rates

  • Type of reverse mortgage

Homeowners often qualify for higher payouts due to higher property values.

5. What types of reverse mortgages are available in?

The main types include:

  • HECM (Home Equity Conversion Mortgage) – backed by the FHA

  • Proprietary Reverse Mortgages – private “jumbo” loans for high-value homes

  • Single-Purpose Reverse Mortgages – offered by nonprofits or local programs for specific uses like home repairs or property taxes

6. What are the requirements for a reverse mortgage?

In addition to age and residency, you’ll need to:

  • Complete HUD-approved counseling

  • Pass a financial assessment

  • Live in an eligible property type (single-family, condo, or certain manufactured homes)

  • Maintain the property and stay current on taxes and insurance

7. Do I still own my home with a reverse mortgage?

Yes! With a reverse mortgage, you retain ownership of your home. You’re simply using your equity to fund your retirement, while continuing to live there.

8. Is a reverse mortgage a good idea for seniors?

For many retirees, a reverse mortgage is a smart way to access tax-free funds, especially with high property values and rising living costs. It’s ideal for those who want to age in place while boosting retirement income.

9. What happens to my reverse mortgage when I pass away?

When you pass away, your heirs can:

  • Sell the home to repay the loan and keep the remaining equity

  • Refinance the reverse mortgage

  • Walk away if the home is worth less than the loan balance (thanks to non-recourse protection)

10. How do I apply for a reverse mortgage?

Start by contacting a licensed reverse mortgage specialist. They’ll walk you through a free consultation, eligibility review, and the application process, including home appraisal, counseling, and closing.

NMLS
Equal Housing Lender
BBB Accredited

CONTACT

State License#: CL-135622 | MB135622
NML#: 135622
Branch#: 135622
Office: 12230 El Camino Real, Suite 100
San Diego, CA 92130
This licensee is performing acts for which a real estate license is required. C2 Financial Corporation is licensed by the California Bureau of Real Estate, Broker # 01821025; NMLS # 135622. Loan approval is not guaranteed and is subject to lender review of information. All loan approvals are conditional and all conditions must be met by borrower. Loan is only approved when lender has issued approval in writing and is subject to the Lender conditions. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. C2 Financial Corporation is an Equal Opportunity Mortgage Broker/Lender. For state licensing information outside of California, click here. As a broker, C2 Financial Corporation is NOT individually approved by the FHA or HUD, but C2 Financial Corporation is allowed to originate FHA loans based on their relationships with FHA approved lenders. Corporate Address: 10509 Vista Sorrento Pkwy #400 San Diego, CA 92121

Consumers in Texas: Consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department's website at www.sml.texas.gov. A toll-free consumer hotline is available at (877) 276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department's website at www.sml.texas.gov

Copyright © 2025 AI REVERSE MORTGAGE All Rights Reserved.