Compare Non-FHA Reverse Mortgages

Q: How to find a Non-FHA lender?

To find a Non-FHA lender reverse mortgage, you should search the terms "proprietary reverse mortgage" and "jumbo reverse mortgage,". Many HUD-approved lenders offer both HECM and non-FHA programs, so we encourage you to shop around for the best option. You can start with our lenders page or the NRMLA lender search tool here.

See Eligibility, Real-Time Rates & Costs

Michael G. Branson, CEO of All Reverse Mortgage, Inc., and moderator of ARLO™, has 45 years of experience in mortgage banking, with the past 20 years devoted exclusively to reverse mortgages. A Forbes Real Estate Council member, he developed the industry's first fixed-rate jumbo reverse mortgage and has been featured in Forbes, Kiplinger, the LA Times, and Yahoo Finance. (License: NMLS# 14040)

Cliff Auerswald, President of All Reverse Mortgage, Inc., and co-creator of ARLO™ — the industry's first real-time reverse mortgage pricing engine — has 27 years of experience in mortgage banking, with 20+ years focused exclusively on reverse mortgages. A recognized expert in reverse mortgage technology and consumer education, he has been featured in Kiplinger, Yahoo Finance, Realtor.com, and HousingWire. (License: NMLS# 14041)

Return of Non-FHA Reverse Mortgages are Here!

By Michael G. Branson

CEO · 45 yrs in mortgage banking

Edited By Cliff Auerswald

President · All Reverse Mortgage Inc.

Updated Oct 4, 2025 ⏱ 7 min read ✓ Fact Checked HUD-Lender #26031-0007 32 comments

If you’re in the market for a loan that can convert your home equity into cash flow or a line of credit in retirement, chances are you have explored the option of a reverse mortgage.

However, the reverse mortgage is not a one-size-fits-all solution. Many people are unaware that there are several products to choose from, including both Federal Housing Administration (FHA) Home Equity Conversion Mortgages (HECM) and private loan options.

Quick Takeaway: If your home is worth more than the FHA limit of $1,249,125 or you’re younger than 62, a Non-FHA reverse mortgage might let you access more equity and qualify sooner.

For the last several years, the number of reverse mortgage products on the market has been limited to the government-insured HECM and a small handful of other loans for people with homes valued at around $450,000 or more.

Recent changes to the Federal Housing Administration’s HECM have sent some lenders to revisit the opportunity for new Non-FHA and jumbo reverse mortgages, which provide borrowers even more options when tapping their home equity in retirement.

Table of Contents

• Non-FHA Reverse Mortgages in 2026

• What’s the Difference?

• New Opportunities for Non-FHA Reverse Mortgages

• Non-FHA Reverse Mortgages vs HECM Reverse Mortgages (2025)

• Top FAQs

Did You Know? FHA caps loan amounts, but private lenders can go up to $4 million.

Non-FHA Reverse Mortgages in 2026

The FHA may soon become less competitive relative to the private market due to loan limits set by the federal government. FHA limits how much its lender-partners can lend through its insurance programs. Historically, this level was capped for reverse mortgages.

However, when lending was largely restricted across the private market during the housing crisis, the government raised that cap to $1,249,125. This made government home loans more desirable for homeowners with a wide range of home values. It also made it harder for private lenders to compete.

The rise in the lending cap is temporary, however, and reverse mortgage lenders are seeing the point at which loan limits retreat to their historical level as an opportunity to offer more products to borrowers whose homes are valued above the FHA lending limit.

What’s the Difference?

As with any FHA-insured loan, a HECM reverse mortgage is subject to the government’s requirements regarding loan origination and servicing the borrower throughout the loan’s life.

FHA only insures certain property types, for example. If you live in a manufactured home built before 1976 or a co-op, you likely won’t qualify for an FHA reverse mortgage. A private loan can offer more options to the borrower since it isn’t tied to the government’s rules.

It also creates more competition in the market, allowing borrowers even more choices.

Key Difference: HECM loans include built-in protections, such as non-borrowing spouse coverage and lifetime credit line growth. Non-FHA loans trade some of that protection for more flexibility and higher limits.

New Opportunities for Non-FHA Reverse Mortgages

While HUD recently raised the HECM lending limit to $1,249,125, many homeowners still don’t fit neatly into FHA’s box. Proprietary and jumbo reverse mortgages can solve some key gaps:

Higher-value homes: FHA caps usable value at $1,249,125. Private loans can go well beyond that, with some lenders offering up to $4 million. This can unlock more equity for owners in higher-cost markets.
Younger borrowers (55–61): HUD’s minimum age for a HECM remains 62, but many proprietary products allow eligible borrowers as young as 55. State restrictions still apply, such as Texas requiring all borrowers to be 62.
Keep your low-rate first mortgage: HECM must be a first lien and usually forces payoff or refinance. Some proprietary programs offer “reverse seconds,” letting you access equity without touching an ultra-low first mortgage.
Non-FHA-approved condos: FHA condo approval is still required for HECMs. Private programs will consider many condos that do not have FHA certification.
Full lump sum at closing: FHA limits first-year access to 60% of your principal limit in most cases. Proprietary loans often allow you to take the full approved amount at closing if you have a large, one-time need.
No FHA mortgage insurance premium (MIP): Private programs do not charge the upfront and ongoing MIP that comes with HECM. This can result in a lower total cost for larger loans.

Takeaway: If your home value or life stage does not align with FHA’s rules, a proprietary reverse mortgage could open doors that the standard HECM cannot.

Compare Side by Side: Use this quick chart to see if a Non-FHA reverse mortgage or FHA-insured HECM fits your needs better. Age, property type, and loan size all play a role.

Non-FHA Reverse Mortgages vs HECM Reverse Mortgages (2025)

Feature	Non-FHA (Proprietary / Jumbo)	HECM Reverse Mortgage (FHA-Insured)
Borrower Minimum Age	55+ (varies by lender)	62+ (HUD requirement)
Maximum Lending Limit	Up to $4,000,000	$1,249,125 (2025 FHA limit)
Eligible Properties	Single-family homes, FNMA-warrantable condos, townhomes, 1–4 unit properties	Single-family homes, HUD-approved condos, townhomes, 1–4 unit properties
Lump-Sum Option	Up to 100% of available proceeds	Limited in first year (HUD draw limits apply)*
Line of Credit Access	Typically 10-year draw period	Lifetime access while you live in the home
Line of Credit Growth	Limited (often capped at 7 years)	Lifetime growth on unused funds
Monthly Tenure Payments	Not available	Yes — fixed monthly payments for life
Low / No Closing Cost Options	Yes	Not typical — standard FHA closing costs apply
Younger Spouse Protection	Usually not included	Yes — non-borrowing spouse protections built into FHA rules
Use for Home Purchase	Yes	Yes — HECM for Purchase (H4P) available

*HUD limits first-year draws to help protect borrowers from running out of funds too soon.

Want More Options Than HECM? Get your Non-FHA reverse mortgage quote from All Reverse Mortgage, Inc. (ARLO™) — America’s #1 rated lender with a 4.99/5-star rating! Call (800) 565-1722 or click here for your free quote — simple, trusted, 100% secure!

Top FAQs

What are the requirements of a Non-FHA reverse mortgage?

Non-FHA reverse mortgages have many similar requirements to the FHA-insured HECM (Home Equity Conversion Mortgage) program, including the property being your primary residence, as well as credit history and on-time payment requirements for taxes and insurance. There are several differences as well. Age is one example; the HECM program requires all borrowers to be a minimum of 62 years of age, whereas many Non-FHA programs go as low as 55 years of age in most states (certain states, such as Texas, for example, require all borrowers to be 62 regardless of product). It is beneficial to speak with a reputable lender to discuss your specific circumstances when deciding whether a HECM or Non-FHA product is the best fit for you.

Is there a difference between a Non-FHA and a jumbo reverse mortgage?

Non-FHA or “Proprietary” reverse mortgages and “Jumbo” reverse mortgages are terms that are used interchangeably throughout the reverse mortgage industry. At their inception, the Non-FHA products were created to service those clients with home values exceeding the maximum insurable value for the HECM program. Initially, these products were only available for properties with home values exceeding the FHA limit. Over time, they have evolved to allow for property values as low as $450,000, so they are no longer exclusively for “Jumbo” property values.

How to find a Non-FHA lender?

To find a Non-FHA reverse mortgage lender, you should search the terms “proprietary reverse mortgage” and “jumbo reverse mortgage.” Many HUD-approved lenders offer both HECM and non-FHA programs, so we encourage you to shop around for the best option. You can start with our lenders page or the NRMLA lender search tool here.

What is HUD’s involvement in reverse mortgages?

HUD is not a lender, but it insures loans with a Mortgage Insurance premium that protects borrowers, lenders, and investors. HUD does not underwrite and close the loan. The lender must do so in accordance with HUD requirements to be eligible for Mortgage Insurance.

What are the pros and cons of a Non-FHA reverse mortgage?

When comparing a Non-FHA reverse mortgage and the HECM program, it is important to be aware of the pros and cons:

Pros:

Non-FHA programs can be obtained on condominiums that are not FHA-approved if they meet the product’s Underwriting Guidelines.
Non-FHA programs can oftentimes allow you to access more funds when you have a larger home value. The current FHA insurance limit is $1,249,125, which is the maximum value that can be taken into account when determining your eligible loan amount. Non-FHA products do not have this limitation, so if you have a much higher home value, you can gain access to more funds with these products over the FHA.
Non-FHA programs can withdraw every dollar you qualify for on day 1 at the time of closing. The FHA product has limitations on the maximum draw at the time of closing. If you need a larger draw immediately than the FHA product permits, a Non-FHA product may be more suitable for your goals.
Non-FHA programs sometimes have easier qualification guidelines requiring less documentation for the residual income analysis.

Cons:

The government does not insure Non-FHA programs, and therefore, the line of credit is not guaranteed with government backing. If you opt for a Non-FHA loan with a line of credit, the access period will be limited to a set window (typically 10 years currently), and if there are significant market fluctuations, your access to those funds is not guaranteed.
Non-FHA programs typically have higher interest rates than the FHA products.
Non-FHA programs currently do not have the same flexibility as the HECM program in terms of proceeds allocation. The HECM program allows you to opt for a monthly distribution plan either for life (Tenure) or for a set term, whereas the Non-FHA programs do not currently offer this option.
Non-FHA programs have minimum property value requirements, whereas the HECM does not. Most of these products require a home value of at least $450,000 to be eligible.

Non-FHA products are more restrictive on the types of properties that are eligible. For example, if you have a property that is purely residential but is a larger acreage parcel, it may not be eligible for a Non-FHA product.

America's #1 Rated Reverse Lender Celebrating 20 Years of Excellence.

Have a Question About Reverse Mortgages?

Look no further. Michael G. Branson, our CEO, brings a wealth of knowledge directly to you. With a robust 45-year tenure in mortgage banking and 20 years dedicated solely to reverse mortgages, he's the expert you want on your side.

Post your question in the comments below and anticipate a personalized response from Mr. Branson himself, typically within one business day. He's here to illuminate all angles of reverse mortgages, ensuring you're equipped with the knowledge to make informed decisions. Take this opportunity to gain insights from a seasoned professional.

Over 2000 of your questions answered by ARLO™
Ask your question now!

32 Comments on this Article

Randy M.
November 8th, 2023

How do mobile homes enter into the equation as far as non fha reverse mortgages?
Reply to Randy
- Michael Branson
  November 15th, 2023
  
  We cannot speak for all proprietary reverse mortgage programs, but I am not aware of any that will work with manufactured housing at this time. The property parameters and the private programs' minimum loan amounts/property values really don't lend themselves to the manufactured properties. And when you consider that the HUD maximum lending limit is $1,089,300, that usually would accommodate just about any manufactured home needs unless the property is extremely unique and most reverse mortgage programs (Including the HUD/FHA-insured loan) would require ample sales of similar homes to be eligible.
  
  The market for mortgage-backed securities has been contracting since the rising interest rates, and there are not as many private programs as there were a few years ago. I don't know exactly your concerns (why you want to consider a non-FHA loan), but typically, the FHA is the more promising option. I would say that is even more true today in our current environment.
  Reply to Michael
Warren
May 28th, 2023

Are non-FHA loans non-recourse loans?
Reply to Warren
- Michael Branson
  May 28th, 2023
  
  We are not a legal firm, and that answer may vary from state to state and by loan type. You need to consult with a licensed attorney in the state where the loan exists to determine the rights, obligations, or possible remedies of borrowers and lenders in that state and for the loan type.
  Reply to Michael
Tony B.
June 16th, 2022

Hello Arlo,
I'm an owner in a small incorporated condominium community (24 villa style 2/2 units) in St. Petersburg, Florida. Median individual values run between $250 and $300k. (Not FHA approved). Several of our residents are quite elderly and a reverse mortgage could be the answer for them to remain in their homes. Are there any plans for proprietary mortgages for individual owners in non-FHA complexes valued under $500k each?
Reply to Tony
- Michael Branson
  June 21st, 2022
  
  Hello Tony,
  
  I can't speak for every proprietary program but we work with more than one and recently, one of the proprietary programs changed their guidelines in the other direction - they no longer accept loans in projects that would be within the HUD limits which means no loans for properties valued under the current HUD $1,089,300.
  Given this change, I do not expect an overall move of other proprietary programs to lower their minimum loan amounts however, we do not work with all programs and it never hurts to put in the leg work to check with lenders to see if they have a program that will meet your needs or the needs of others in your complex.
  
  Don't forget also that if the project is "approvable", in other words it has not been rejected by HUD and it meets their criteria, just because it is not currently approved by HUD that does not mean it cannot be approved.
  It might benefit the entire project to contact a company that specializes in HUD approvals and get the project approved. This helps not only seniors, but also opens up the project to more purchasers for sellers in the project when the project is FHA approved.
  You can find companies that specialize in condo approvals online with a quick Google search and we have listed companies with whom we have had good experiences such as https://fhacondosapproval.com/ and there is typically no cost if they cannot get an approval. You can find others; this is just one of the many that appear with the search of "FHA condo Approval Companies".
  Reply to Michael
Don Fielding
December 18th, 2019

Does the minimum appraised value of $500,000 apply to the condominium complex or to an individual unit in the complex?
Reply to Don
- Michael Branson
  December 20th, 2019
  
  Hello Don,
  
  When you are referring to Proprietary guidelines and minimum/maximum values, they pertain to the home the loan is to be placed on, not the project.
  Reply to Michael
  - Margaret M.
    October 9th, 2021
    
    I am looking for a reverse mortgage on Condo unit that is not FHA approved. Having been dealing with HOA and it's taking forever for them to figure out how to get approval so they say. I'm running out of patience. Can you help me?
    Reply to Margaret
    - Michael Branson
      October 14th, 2021
      
      Hello Margaret,
      Jumbo or proprietary programs will also accept condominiums but some also require the project to be approved with FHA while others will impose similar criteria and minimum values. The best bet is to check to see if your property would meet the requirements of a private program in addition to the FHA program but there are also companies that specialize in FHA condominium approvals.
      You may also want to check with them to see if they can help you get the project approved. I cannot speak for them and I do not know what their fee is, but the ones I have seen do not charge anything if they cannot get the project approved and they can usually tell you right away if the project even can be approved. I don't know if your problem is that your project is not approvable, if the HOA just doesn't know how to get it done, or if someone doesn't want the project approved and is stopping the progress.
      We have seen boards and individuals actually determine that they don't think FHA approval is a good thing and instruct the HOA to stonewall the process or purposely impede the process themselves. If you go through a company that specializes in FHA approval, they can tell you the full story and at least you will know.
      One company with whom we have worked in the past is "The FHA Condos Approval Company" at fhacondosapproval.com. We are not affiliated with them though so I cannot tell you what their fees are or even how they compare to others who perform this service in the industry.
      I can only say that Bob Netterfield did a good job for some customers of ours and if you do an internet search, you may want to add them to your comparison. But a company like this can let you know if your project will meet HUD requirements and there is no charge if they cannot get the project approved.
      The cost savings over the life of the loan between a jumbo or proprietary loan and a HUD HECM loan will more than likely cover any cost but I would always recommend you do your best to compare all costs and charges.
      Reply to Michael
Loretta B.
August 25th, 2019

I live in a community I would like a non-fha reverse mortgage on my condo is that possible?
Reply to Loretta
- Michael Branson
  August 25th, 2019
  
  Hi Loretta,
  The project would have to meet the minimum requirements but starting in October HUD is reinstating a single unit approval program that does not require a complete project approval.
  Reply to Michael
George Ross
July 24th, 2019

I have a Underground house made mostly of concrete that I live in and is paid off. I am looking to see if I can get a reverse mortgage without FHA loan as they do not provide loans for this kind of structure.
Reply to George
- Michael Branson
  July 29th, 2019
  
  Hello George,
  The problem with most lending is that unique homes are not usually eligible for conventional type loans. Reverse mortgage lenders know that if you keep the loan to its highest and best use, that is, you keep it until you pass, it would be up to your heirs or the lender to sell the home to pay off the loan balance.
  Lenders do not want the risk of a unique home that may have little to know market that they would have to try to sell at that time.
  Other examples of homes that most lenders would not consider for reverse mortgage purposes would be geodesic dome homes, yurts and homes off the grid with no permanent power or water sources, etc.
  I even once had an inquiry for a home built into a cave that was an extremely well-appointed property, but there was no real way to value the home and no way to know the market for it.
  The homes may be very nice and well made, but it takes a certain type of buyer to buy them and could remain on the market for excessive periods before ever being sold.
  Also, without the ability to compare to many other similar homes that have sold in the area recently, there is no way to establish an actual value or the acceptability of the property to other buyers. I'm sorry, you may have a fantastic property, but I don't know a source for a reverse mortgage for it.
  Reply to Michael
Robert Crawbuck
April 21st, 2017

I live in a condo in Florida. The appraised value appears to be just under $300K. I doubt that my HOA will apply for HUD approval. If that stays true, would I be able to apply for a non-FHA reverse mortgage?
-Robert
Reply to Robert
- Michael Branson
  April 21st, 2017
  
  Hi Robert,
  I am not aware of a non-FHA reverse program for condos at this time but HUD has announced that they will be re-instituting a program that allowed lending on some condominiums without having to get the entire project approved first. We don't have an exact date or all the parameters but keep watching our site and send us your information and we will let you know as soon as HUD makes the announcement that the program has been implemented.
  Reply to Michael
  - Janet L.
    July 23rd, 2020
    
    Hi, I purchased a newly built condo appraised at $250,000. I owe $123,000.
    Can I get a non-FHA reverse mortgage on it? I am 71. FHA will not approve condos in this community because they did not like "language" of rental that allows association final approval on a rental. I am not renting, and never will as this be my primary home (not that I have a 2nd one somewhere else!) other proprietary loans say my loan is too small. Single family Homes in this development qualify for FHA reverse but not my condo. I live in Florida. Is my only recourse being to sell this unit and go back into a house?
    I like where I live!
    Reply to Janet
    - Michael Branson
      July 24th, 2020
      
      Hello Janet,
      HUD will not approve a unit in a condo project that limits their ability to mitigate any losses since they may well end up owning the unit if you or your heirs decide you no longer want the home at the end of the term.
      Therefore, they would not approve a project that limited to whom the unit could be sold, rented, etc. Such limitations could represent additional losses until a property could be sold.
      As for the proprietary programs, the lowest value acceptable I am aware of for these programs is $450,000.
      They are intended to be used for jumbo loans and are sometimes used as a HUD alternative but the investors who offer this product do not seek homes that are within HUD lending limits but just do not meet HUD requirements.
      I am sorry, I do not have any specific recommendations for condominium projects that will not meet the HUD requirements or alternatives to HUD reverse mortgage programs for properties in this value range.
      Reply to Michael
  - Joie D.
    July 29th, 2021
    
    I live in a condo, and the HOA says obtaining HUD approval is too expensive. I desperately need to access the equity in my condo which is completely paid off. The worth is approximately $200K. Please keep me informed of non-FHA reverse mortgages.
    Also, please explain why I'm (and many others) are being punished because I/we live in a condo? I have a credit score of 832, which is much better than most people living in houses. Seems discriminatory!
    Thank you,
    Joie
    Reply to Joie
    - Michael Branson
      August 2nd, 2021
      
      Hello Joie,
      
      Who is telling you that the approval is too expensive? The HOA? HUD does not charge to approve the project and so it is just a matter of supplying all the documentation that they require which the HOA should have. There are some companies who will gather and submit the information to HUD on behalf of homeowners who must do it on their own and no longer have all the CC&R's, by-laws, budgets, etc., but the HOA should have all the HUD required documentation at hand and it would just be a matter of following the HUD checklist to submit for approval.
      If they wanted to hire a company to do it for them, most companies like FHA Condo Approvals (fhacondosapproval.com) guarantee approval or there is no fee. They can do this because they know exactly what HUD requires and they know if HUD will approve the project just by gathering the necessary information. After they see the information, they know it is just a matter of submission and waiting for the approval. I have not checked for quite some time on their pricing, but it did not seem high to have the project approved.
      
      I am afraid you have been misled by either an HOA that is not experienced and does not want to go to through the work of getting the project approved or they have been advised by the board that they do not want FHA/HUD approval because many people have the mistaken opinion that once a project is FHA approved, it lets the "wrong kind" of people buy in the project. Not only is that discriminatory, but it is incorrect.
      Most of the time that is a disservice to current owners who could benefit from the programs FHA has to offer like the reverse mortgage program, but it also would help all current owners by opening up a broader buying market when they try to sell. Many potential buyers now are shut out of buying the units in your project because they use FHA financing. That hurts everyone when they go to sell (and potentially values).
      
      With regard to the question of discrimination because HUD requires the project to be approved and they will not approve all projects, it absolutely is not discriminatory as the approval process is based on the strength, the viability and the marketability of the project and not anything to do with the demographics of the owners, the ages or any other feature that would be discriminatory to underwrite.
      For example, HUD verifies that the project does not have a majority of rentals in the project to be approved HUD can support through thousands of loans in thousands of projects that projects that fail most often are those that are mainly used for rental and are not unit owner occupied. The dues fall behind and the project becomes rundown which hurts the units' marketability. Projects with insufficient budgets or insurance are at risk of failure.
      Projects currently in litigation for something that they have no insurance coverage that would protect them should they lose are at risk. These are just some of the things that HUD reviews the documents to check for. Condominiums already lose their value faster than single family residences when markets do soften, HUD just wants to be sure there are not other layers of risk that would cause an entire project to fail before they begin to insure loans in various projects. That's why they require that projects must be reapproved every 2 years. Circumstances change and they do not want to take on too much exposure in a project that has experienced changes that create unacceptable risks.
      
      There are many circumstances with single family homes that render the homes uninsurable for the HUD programs as well. It doesn't mean that the home is not a nice property or that the borrower is not a good borrower. It just means that the property does not meet HUD's risk guidelines and therefore cannot be used to secure a home for HUD/FHA insurance. A condominium unit located in an unapproved project is just such a circumstance.
      In your case though, I would check again with the HOA to find out why they think it is too expensive and then maybe contact the company from the link above or do an internet search for any of the other companies who offer the same services and see if they believed your project would qualify (especially if you still have all the documents they need).
      Reply to Michael
  - Diane S.
    May 25th, 2025
    
    hello...is there actually a non FHA approval for a condo in Tamarac that basically told me they will not approve me to get a reverse mortgage and I was so upset; so is there a way around it? Let me know. Thanks, Diane, Tamarac...ds345@hotmail.com
    Reply to Diane
Steven Bolin
April 15th, 2017

I own a home in Seattle, WA United States and I am younger then age 62 all reverse mortgages I know that are government related one needs to be age 62 or older though I was wondering if a non government related reverse mortgage could legally exist for one under the age 62 years old? If yes I would also like to find a lawyer who could write up a reverse mortgage contract and deal with such legal affairs if you are such a lawyer please email me to let me know with your name and address/ phone number, okay?
Reply to Steven
- Michael Branson
  April 17th, 2017
  
  Hi Steven,
  Before the market crash in 2009 - 2010, there were some programs I knew of that were private programs went down to age 60 but I am not aware of any at this time. I do know that there are/were also other non-reverse mortgage options available that many do not find as palatable that include equity sharing and other similar methods. Many times the reverse mortgages are less expensive than some of the alternatives and the payments required on some do not achieve the goals of the borrowers, but if you search out alternatives you may find something that will work for you rather than just seeking a reverse mortgage that allows for younger borrowers.
  Reply to Michael
Richard Rudolph
August 18th, 2015

I have a manufactured home that has been moved, set on a foundation, up to strict city codes, etc. Is there any chance of finding a reverse mortgage? (I am purchasing the 1/3 acre lot it is sitting on.)
Reply to Richard
- Michael Branson
  August 18th, 2015
  
  Hi Richard,
  Moving a manufactured home that was previously installed in another location can really wreak havoc on the structural integrity of the home. For this reason, HUD will not insure a loan on a manufactured home that was previously installed at another location. In 2009, HUD issued Mortgagee Letter 2009-16 in which they updated their manufactured homes requirements. They specifically exclude eligibility for homes that have been move or previously occupied at another location in that Mortgagee Letter with the following verbiage:
  A. Relocation [of Eligible Manufactured Homes] - To be eligible for FHA Title II insurance, the manufactured unit must not have been previously installed or occupied at any other site or location. Manufactured units may be moved only from the manufacturer's or dealer's lot to the site on which the unit will be insured. If a permanent foundation is to be constructed under an existing eligible unit, the unit may be jacked-up or under pinned in order to install a new foundation.
  
  What they are saying is that the home may be jacked up to install the permanent foundation and they do not consider this a "move", but any unit that was previously installed or occupied at any other site, is not eligible. These are HUD's rules so all lenders would have to follow the same rules for the HUD HECM reverse mortgage program. Unless they had a private or proprietary program that allowed for a difference or HUD changed their rules, I am afraid there are no lenders that would be able to place a reverse mortgage on such a unit. At any rate, I do know of any such programs that exist today.
  Reply to Michael
John massey
November 22nd, 2014

Where can I look to get a non fha reverse mortgage?
Reply to John
- Barbara Plenn
  September 7th, 2016
  
  I have a condo and condo association will not get FHA Approval. I am interested in a Proprietary Reverse Mortgage.
  Reply to Barbara
  - Michael Branson
    September 7th, 2016
    
    Hello Barbara,
    Currently the proprietary jumbo reverse mortgage program will accept a non-FHA approved condominium with a minimum appraised value of $500,000. If you meet that requirement please feel free to request a quote from our website or call toll-free 800-565-1722.
    Reply to Michael
- Robert H.
  October 10th, 2022
  
  I'm looking for a non FHA reverse mortgage on my condo that is valued somewhere around $550,000.
  Reply to Robert
  - Michael Branson
    October 13th, 2022
    
    Hello Robert,
    
    There are non-FHA programs available for condominiums valued at or above $450,000 available in the marketplace. As you are aware, the rates have been higher due to the rising inflation over the last 9 months but that doesn't mean you can't still take advantage of the programs now.
    You will not get as much money because of the higher rates, but it's still your equity in the home so not accessing all of it now may still be to your benefit in the long run. You may be able to access enough of the equity to keep from having to make a more expensive move in a less advantageous market or possibly selling stocks in a down stock market. The costs for proprietary reverse mortgages are typically much lower since there is no FHA insurance.
    
    Like all reverse mortgages, there is never a prepayment penalty so the loan can always be repaid with a sale or refinance should you later decide to sell the condo or should lower rates become available later. The main thing to remember is that the programs are available and as with any other financial decision, we recommend that you discuss with your trusted financial advisor.
    Reply to Michael
    - Diane S.
      April 9th, 2025
      
      Hello, I live in the Lakes of Carriage Hills in Tamarac, Florida. I've been here for about 20 years and am now a widow. A gentleman told me I could get a reverse mortgage, but when I called the HOA office, they told me, "Too bad, we're not signing any HUD paperwork to help anyone.” I was so upset. I really wanted to get a realtor to sell my place and find a one-bedroom apartment with a washer and dryer - and no problems with roaches or mice. Down here, you never know...
      No one is helping me, which is terrible. I don't understand why it matters if a complex is HUD approved. What does that even mean? The office would still get their HOA fees paid. Can this be done or not? Or am I stuck here until, God forbid, I get too ill to live on my own and wind up in a dump somewhere?
      There has to be some kind of solution for me. Please get back to me ASAP.
      Thank you,
      Diane
      Reply to Diane
      - Michael Branson
        April 20th, 2025
        
        Hello Diane,
        HUD will not insure a reverse mortgage on a condominium unless the project has been approved by HUD. The process to get a project approved usually requires minimal interaction with management - if the project meets HUD's requirements. However, if management refuses to cooperate and the project isn't already on HUD's approved list, then a HECM reverse mortgage cannot be completed for any unit in that complex.
        HUD requires project approval because some condo documents (such as the CC&Rs or Bylaws) may contain language that restricts HUD's ability to sell the home later if they ever become the owner. HUD will not accept that additional risk.
        I wish I had better news, but you can check HUD's list of approved condominiums here:
        https://entp.hud.gov/idapp/html/condlook.cfm
        To use the site, enter your state, county, and city, then press Enter. I recommend doing it this way because some projects are listed under different names than what homeowners typically see. This will show all projects that have ever been submitted to HUD, along with their status.
        Here's how to interpret the results:
        Rejected means HUD reviewed the project and declined approval.
        Approved - Expired means it was approved in the past but must be resubmitted.
        Approved means it is currently eligible, but the HOA must still sign a short, one-page condo certification form for each borrower.
        Unfortunately, some HOAs refuse to fill out any forms. In those cases, your only option may be to appeal directly to your HOA board. If they still refuse to cooperate, and you find that getting a reverse mortgage is more important than staying in the home, selling might be your only choice.
        Reply to Michael

Compare Non-FHA Reverse Mortgages

Return of Non-FHA Reverse Mortgages are Here!

Non-FHA Reverse Mortgages in 2026

What’s the Difference?

New Opportunities for Non-FHA Reverse Mortgages

Non-FHA Reverse Mortgages vs HECM Reverse Mortgages (2025)

Top FAQs

What are the requirements of a Non-FHA reverse mortgage?

Is there a difference between a Non-FHA and a jumbo reverse mortgage?

How to find a Non-FHA lender?

What is HUD’s involvement in reverse mortgages?

What are the pros and cons of a Non-FHA reverse mortgage?

Have a Question About Reverse Mortgages?

Over 2000 of your questions answered by ARLO™
Ask your question now!

Leave a Reply to This Article

See exactly how much you qualify for — with zero pressure.

Today's HECM rate, in your inbox each Monday.

Programs

How It Works

Calculators

Company

Compare Non-FHA Reverse Mortgages

Return of Non-FHA Reverse Mortgages are Here!

Non-FHA Reverse Mortgages in 2026

What’s the Difference?

New Opportunities for Non-FHA Reverse Mortgages

Non-FHA Reverse Mortgages vs HECM Reverse Mortgages (2025)

Top FAQs

What are the requirements of a Non-FHA reverse mortgage?

Is there a difference between a Non-FHA and a jumbo reverse mortgage?

How to find a Non-FHA lender?

What is HUD’s involvement in reverse mortgages?

What are the pros and cons of a Non-FHA reverse mortgage?

Have a Question About Reverse Mortgages?

Over 2000 of your questions answered by ARLO™ Ask your question now!

Leave a Reply to This Article

See exactly how much you qualify for — with zero pressure.

Today's HECM rate, in your inbox each Monday.

Over 2000 of your questions answered by ARLO™
Ask your question now!