Longbridge Platinum

The gold standard of proprietary reverse mortgages

NEW Platinum Line of Credit: Your go-to HELOC substitute for seniors. Did you know that for every senior who chooses a reverse mortgage, nearly 11 seniors choose a HELOC as a financing alternative1?

Our NEW Platinum Line of Credit Program offers clients with higher home values more cash than a HECM and more flexibility than a HELOC—giving you more opportunities. It’s the competitive edge you need to better serve more clients.

As compared to a HELOC, a Platinum Line of Credit features:

  • A reusable line of credit, up to 75%, that grows over time2
  • Low or no upfront costs
  • Comparable rates
  • Easier income qualification
  • No required monthly mortgage payments3
  • All the borrower benefits and safeguards of a standard reverse mortgage program
Similarities Platinum LOC Standard HELOC
Own and keep title of the home? Yes Yes
Must pay taxes and insurance? Yes Yes
Can deduct interest? Yes, if optional payments are made Yes
Can pay off and re-draw? Yes, up to 75%2 Yes, but there may be a penalty
Ten-year draw period? Yes Yes
Credit line can be cut off by lender? Only under specific circumstances Yes, at any time
Rate adjusts regularly? Every 3 months Every month


Differences Platinum LOC Standard HELOC
Credit line grows over time? Yes No
Penalty for early payoff? No penalty Yes, depending on the program
Monthly mortgage payments required? No monthly mortgage payments required Yes
Non-recourse loan protection? Yes No

Offer clients more options.

Longbridge Platinum is our non-FHA-insured reverse mortgage program for borrowers with high-value homes or condominiums that may not qualify for a HECM:

Fixed-Rate Program: for clients looking for a full-draw loan at a low, fixed rate

NEW Line of Credit Program: for clients who want some upfront cash now—and a reusable, growing line of credit for the future

While you enjoy exclusive Platinum advantages:

  • Servicing website for all loans, to give clients exceptional service even after closing
  • Improved compensation
  • The PAA Advantage: flexible pricing and the ability to set your own origination fee4 to maximize your success
  • Open-ended Line of Credit, offering more pricing options for Brokers than closed-end products, including the ability to charge origination fees
  • Simple structure and streamlined approval process
  • More flexibility and options to help you serve more clients

Platinum delivers a long list of borrower benefits:

  • More available cash as compared to a traditional HECM
    • Loan amounts up to $4 million
    • Widest range of eligible home values
  • Highest LTVs for most borrowers
  • Attractive, low-rate, low- or no-cost options
  • No mortgage insurance premium = lower upfront costs
  • Non-recourse protection
  • Greater flexibility and fewer restrictions
  • Lower monthly servicing fee options compared to other private reverse mortgages
  • Less stringent eligibility requirements for condos

12016 Survey of Consumer Finances, The Urban Institute, November 2017. 2Except for the first 25% taken at closing. 3Real estate taxes, homeowners insurance, and property maintenance required. 4 Applies to lenders only.

Restrictions apply.

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