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You worked hard for your home. Now, let your home work hard for you. If you own a high-value home or condo, Longbridge Platinum can help you unlock a substantial portion of your home equity with more flexibility, more available cash, and a low, fixed rate.
Longbridge Platinum is a non-FHA (non-government) reverse mortgage program—competitive with many forward mortgages and HELOC programs.
Longbridge Platinum features:
- Loan amounts up to $4,000,000
- Low upfront costs with no origination fee options
- No mortgage insurance premiums
- No monthly servicing fee
- No limits on your initial draw—unlike a traditional HECM, you can take the full loan proceeds at closing
- Expanded eligibility for condominium communities
- Streamlined approval process
As with any reverse mortgage, there are no required monthly mortgage payments. All you have to do is continue to pay for real-estate taxes, homeowners insurance, and property maintenance.
Use the power of Platinum to your advantage.
There are many benefits to accessing your home equity—you’re free to use the loan proceeds as you wish to:
Pay off an existing mortgage and other debt and eliminate monthly payments
Refinance an existing reverse mortgage to get more available cash
Generate a lump sum of tax-free income* to use in any way you wish, such as home improvements or medical expenses
Buy a house or condo better suited to your retirement needs, such as an active lifestyle community
*Consult a financial advisor and appropriate government agencies for any effect on taxes or government benefits.