Longbridge Platinum
The affordable reverse mortgage now has a NEW line of credit option.
Get more tax-free cash1 than a HECM and more flexibility than a HELOC.

I need more cash than I can get from a HECM reverse mortgage. Isn’t there another option?
If your home’s value is $450,000 or more, there’s Longbridge Platinum. It’s a proprietary, non-Federal Housing Administration (FHA) reverse mortgage that offers more cash than a standard reverse mortgage—depending on your home’s value, up to $4,000,000—with low costs. Plus, our new line of credit option compares favorably to a standard Home Equity Line of Credit (HELOC), with more flexibility and no monthly mortgage payments required.2
Questions? We have the answers you need.
Simply call or fill out the form to get your free info kit—or get a free quote now.
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Introducing an attractive HELOC alternative for older-adult clients who own high-value homes.
If you own a home or condo valued at $450,000 or higher, Longbridge Platinum can help you unlock a substantial portion of your home equity. It’s a private reverse mortgage program (not insured by the Federal Housing Administration) that allows you to access more available funds as compared to a traditional Home Equity Conversion Mortgage (HECM): up to $4 million. It’s competitive with many forward mortgages and HELOC programs, with more flexibility—and no monthly mortgage payments required.2
Why Longbridge Platinum Line of Credit is the ideal HELOC substitute for seniors.
As compared to a HELOC, the Platinum Line of Credit Program features:
- Low upfront costs
- Comparable rate
- Easier income qualification
And here’s where the Platinum Line of Credit really gives you the gold:
- No required monthly mortgage payments2
- A reusable line of credit, up to 75%, that grows over time3
- All the borrower benefits and safeguards of a standard reverse mortgage program
PLATINUM LINE OF CREDIT VS. STANDARD HELOC: A CLOSER COMPARISON. | ||
---|---|---|
Platinum LOC | Standard HELOC | |
Ownership | Both types of loans allow you to own and keep the title of your home | |
Payments | No monthly mortgage payments required2 | Requires monthly mortgage payments |
Interest deduction | You can deduct the interest, if optional payments are made | You can deduct the interest |
Line of credit growth | Reusable, growing line of credit—the unused portion can grow for 7 years4 | Line of credit does not grow over the life of the loan |
Payoff and redraw | Access up to 75%3 of the Principal Limit during the first 10 years—with the ability to redraw repaid principal amounts | Can pay off and redraw during the first 10 years, but there may be a penalty |
Rate adjustments | Every three months | Every month |
Payback deadline | None, as long as you meet the terms of the loan and remain in your home | Typically comes due after 10 years |
Prepayment penalty | No penalty for early repayment | Prepayment penalties can be charged in some cases—ask your lender |
Non-recourse loan protection | You and your heirs aren’t personally liable if the loan amount exceeds the home value when it comes due | No such protection |
Counseling | Independent, Platinum-approved counseling helps you fully understand your options | No independent counseling provided |
Qualifications | Must be a homeowner age 60+* and use the home as your primary residence | Must qualify based on credit score and income |
PLATINUM LINE OF CREDIT VS. STANDARD HELOC: A CLOSER COMPARISON. | |
---|---|
Platinum LOC | Standard HELOC |
Ownership | |
Both types of loans allow you to own and keep the title of your home | |
Payments | |
No monthly mortgage payments required2 | Requires monthlymortgage payments |
Interest deduction | |
You can deduct the interest, if optional payments are made | You can deduct the interest |
Line of credit growth | |
Reusable, growing line of credit—the unused portion can grow for 7 years4 | Line of credit does not grow over the life of the loan |
Payoff and redraw | |
Access up to 75%3 of the Principal Limit during the first 10 years—with the ability to redraw repaid principal amounts | Can pay off and redraw during the first 10 years, but there may be a penalty |
Rate adjustments | |
Every three months | Every month |
Payback deadline | |
None, as long as you meet the terms of the loan and remain in your home | Typically comes due after 10 years |
Prepayment penalty | |
No penalty for early repayment | Prepayment penalties can be charged in some cases—ask your lender |
Non-recourse loan protection | |
You and your heirs aren’t personally liable if the loan amount exceeds the home value when it comes due | No such protection |
Counseling | |
Independent, Platinum-approved counseling helps you fully understand your options | No independent counseling provided |
Qualifications | |
Must be a homeowner age 60+ and use the home as your primary residence | Must qualify based on credit score and income |

Longbridge Platinum features:
- Loan amounts up to $4 million in available cash and the widest range of eligible home values
- Attractive low-rate options
- No mortgage insurance premium = lower upfront costs
- No penalties for prepayment
- Non-recourse protection = no personal liability
- Greater flexibility and fewer restrictions
- Expanded eligibility for condos
- Streamlined approval process
A choice of payout options to help you meet your financial goals:
- Choose the Fixed-Rate Program if you’re looking for a full-draw loan at a low, fixed rate
- Or opt for the Line of Credit Program if you want some upfront cash now—and a reusable, growing line of credit for the future
As with any reverse mortgage, there are no required monthly mortgage payments. You just continue to pay real-estate taxes, homeowners insurance, and property maintenance as usual.
Use the power of Platinum to your advantage.
You’re free to use your home equity as you choose:
- Pay off an existing mortgage and other debt to eliminate monthly payments.
- Generate a lump sum of tax-free income1 for home renovations or repairs, medical expenses, and more.
- Use the line of credit option to set up a financial “safety net” for the future.
- Refinance an existing reverse mortgage to get more available cash.
- Buy a house or condo that’s better sized or suited to your retirement needs.