Longbridge Introduces Proprietary Reverse Mortgage with Line of Credit

Reverse Mortgage Daily

Mahwah, N.J.-based Longbridge Financial is introducing a new proprietary reverse mortgage product to its existing “Platinum” branded product line, constituting a proprietary reverse mortgage that comes with a line of credit (LOC) feature. This new Platinum LOC loan allows qualified borrowers aged 62 and older to access an open-ended line of credit that grows at 1.5% per year for up to 7 years, and features a 10-year draw period.

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