For years, families with higher-value homes had limited reverse mortgage options.  The standard FHA Home Equity Conversion Mortgage (HECM) capped lending at $1,209,750, which meant many homeowners couldn’t access the equity they had worked a lifetime to build.

The Platinum Jumbo Reverse Mortgage changes that.

It’s a modern, flexible reverse mortgage program created for older homeowners with high-value properties, non-FHA-approved condos, and borrowers age 55+ who don’t qualify for a HECM.

Below, I’ll walk you through how it works, what’s new for 2025, who qualifies, and exactly how much you may receive based on your age and home value.
Did You Know? Even with a high-value home, a standard HECM caps lending at $1,209,750 in 2025. Platinum allows loan amounts up to $4,000,000.

What Is the Platinum Jumbo Reverse Mortgage?

The Platinum program is a jumbo reverse mortgage designed for:

  • Homes worth well above the HECM lending limit

  • Condominiums that aren’t FHA-approved

  • Borrowers age 55 and older

  • Homeowners who want no mortgage insurance premiums (MIP)

  • Owners who want fixed-rate or line-of-credit options

  • Borrowers seeking loan amounts up to $4,000,000

It works much like a traditional reverse mortgage:
You continue to own your home, you make no monthly mortgage payments, and repayment happens when you sell, move, or pass away.

Did You Know? Borrowers aged 55–61 aren’t eligible for a HECM, but they can qualify for a Platinum Jumbo Reverse Mortgage in most states.

Why Homeowners Choose Platinum Over a HECM

1. Higher Lending Power (Up to $4 Million)

In 2025, the HECM maximum loan is capped at $1,249,125
For high-value homes, that leaves significant untapped equity.

Platinum allows up to $4,000,000 in proceeds with no maximum property value.

2. No Mortgage Insurance Premium

HECMs require upfront and annual MIP.
Platinum charges no MIP, lowering overall loan costs.

3. Flexible Age Requirements

  • HECM minimum age: 62

  • Platinum minimum age: 55 (state rules vary)

This alone opens the door for thousands of homeowners who otherwise can’t qualify.

4. Condo Flexibility

Platinum accepts:

  • FHA-approved condos

  • FNMA warrantable condos

  • Many condos are eligible under Limited Review

  • FHA Single Unit Approved condos

Great for California, Florida, and other condo-heavy areas.

Did You Know? Many condos that fail FHA requirements still qualify under the Platinum warrantable condo guidelines, opening the door for condo owners who otherwise have no HECM option.

What’s New for the 2025 Platinum Program?

Platinum saw major updates for 2025, including:

More Accessible Property Requirements

  • Minimum appraised value reduced to $450,000

  • Manufactured ADUs allowed (value counted at 50%)

  • Expanded condo eligibility across FHA, FNMA, and Single-Unit approvals

Smoother Underwriting

  • Co-borrowers with no credit score allowed (if one borrower meets the requirement)

  • No explanation letters required for scores under 660

  • Past-due credit accounts may be cured at closing

  • Borrowers with homes appraised over $2M may “use” $2M to avoid requiring two appraisals (if supported by the first)

Far More Transition Options

Borrowers applying for a HECM can move to a Platinum fixed-rate loan if it better fits their needs, with updated disclosures and Platinum counseling.

Did You Know? If your home appraises above $2 million, you can elect to “use” $2,000,000 as the valuation to avoid needing a second appraisal — as long as the first supports it.

How Much Can You Receive? (2025 Platinum LTV Table)

Your loan amount depends on the youngest borrower’s age and your home’s value.

Here is the 2025 Platinum Loan-to-Value chart:

Platinum Jumbo Reverse Mortgage LTV by Age: How Much You Get

Youngest Borrower Age LTV % (Loan-to-value)Loan Amount on $1M HomeLoan Amount on $2M HomeLoan Amount on $3M Home
5539.10%$391,000$782,000$1,173,000
5639.30%$393,000$786,000$1,179,000
5739.50%$395,000$790,000$1,185,000
5839.70%$397,000$794,000$1,191,000
5940.10%$401,000$802,000$1,203,000
6040.40%$404,000$808,000$1,212,000
6140.70%$407,000$814,000$1,221,000
6241.00%$410,000$820,000$1,230,000
6341.40%$414,000$828,000$1,242,000
6441.90%$419,000$838,000$1,257,000
6542.40%$424,000$848,000$1,272,000
6642.90%$429,000$858,000$1,287,000
6743.50%$435,000$870,000$1,305,000
6844.00%$440,000$880,000$1,320,000
6944.60%$446,000$892,000$1,338,000
7045.30%$453,000$906,000$1,359,000
7146.00%$460,000$920,000$1,380,000
7246.80%$468,000$936,000$1,404,000
7347.70%$477,000$954,000$1,431,000
7448.70%$487,000$974,000$1,461,000
7549.70%$497,000$994,000$1,491,000
7650.80%$508,000$1,016,000$1,524,000
7751.60%$516,000$1,032,000$1,548,000
7852.40%$524,000$1,048,000$1,572,000
7953.40%$534,000$1,068,000$1,602,000
8054.40%$544,000$1,088,000$1,632,000
8155.60%$556,000$1,112,000$1,668,000
8256.90%$569,000$1,138,000$1,707,000
8358.10%$581,000$1,162,000$1,743,000
8459.00%$590,000$1,180,000$1,770,000
8560.00%$600,000$1,200,000$1,800,000
8660.30%$603,000$1,206,000$1,809,000
8760.60%$606,000$1,212,000$1,818,000
8860.80%$608,000$1,216,000$1,824,000
8961.00%$610,000$1,220,000$1,830,000
90-10061.10%$611,000$1,222,000$1,833,000
Loan-to-value percentages in this table are based on an interest rate of 8.99% (9.18% APR). Loan amounts are illustrative estimates rounded to the nearest thousand and may vary based on final loan terms, closing costs, and borrower qualifications.

Example:
At age 72, the LTV is 46.80%.
On a $1,000,000 home, that equals $468,000 in available loan proceeds.

Example 1: 72-Year-Old With a $900,000 Home

  • Age: 72

  • LTV: 46.80%

  • Loan amount: $900,000 × 46.80% = $421,200

  • Existing mortgage: $180,000

  • Cash available after payoff: $241,200

Perfect for homeowners who want to eliminate their payment and set aside additional cash.

Example 2: 58-Year-Old With a $2,400,000 Home

  • Age: 58

  • LTV: 39.70%

  • Loan amount: $2,400,000 × 39.70% = $952,800

  • Existing mortgage: $300,000

  • Remaining funds: $652,800

Ideal for younger 55–61 homeowners or those ineligible for FHA loans.

Example 3: 67-Year-Old With a $1,150,000 Condo (Not FHA-Approved)

  • Age: 67

  • LTV: 43.50%

  • Loan amount: $1,150,000 × 43.50% = $500,250

A strong option for condo owners who don’t meet FHA condo rules.

Example 4: 60-Year-Old Planning Ahead With a $1,000,000 Home

  • Age: 60

  • LTV: 40.40%

  • Loan amount: $404,000

  • Line of credit available: $303,000 (after required first draw)

Great for long-range planning and future medical or home needs.

Example 5: 83-Year-Old With a $3,000,000 Home

  • Age: 83

  • LTV: 58.10%

  • Loan amount: $1,743,000**

One of the strongest loan amounts available under any reverse mortgage in 2025.

Example 6: 75-Year-Old Paying Off a Large Mortgage

  • Age: 75

  • LTV: 49.70%

  • Home value: $1,800,000

  • Loan amount: $894,600

  • Existing mortgage: $580,000

  • Cash available: $314,600

Powerful for freeing up monthly income.

Example 7: 55-Year-Old Homeowner With a $1,500,000 Home

  • Age: 55

  • LTV: 39.10%

  • Loan amount: $586,500

This is the youngest eligible age and one of the most common scenarios for homeowners wanting access before HECM eligibility.

Who Qualifies for a Platinum Jumbo Reverse Mortgage?

You may be eligible if:

  • You are 55+ (62+ in some states)

  • You own a single-family home, townhome, FHA-approved condo, warrantable condo, or 2–4 unit property

  • You live in the home as your primary residence

  • You complete the required counseling

  • You meet the credit and property charge guidelines

General Credit Rules

  • 720+ = simplified review

  • 600–719 = full financial assessment

  • Under 600 = ineligible

How the Platinum Line of Credit Works

In addition to the fixed-rate option, Platinum offers a line of credit with:

  • No monthly payments

  • Growth feature

  • Option to draw funds when needed

  • Flexibility for retirement planning

This is especially attractive for:

  • Borrowers under 62

  • Owners of FHA-ineligible condos

  • Homes with solar leases

Is the Platinum Jumbo Reverse Mortgage Safe?

Yes. Like all reverse mortgages:

  • You remain the owner

  • The loan is non-recourse — you never owe more than the home’s value

  • Your heirs can walk away, sell the home, or refinance

  • There are no monthly mortgage payments

  • You only must keep taxes, insurance, and maintenance current

Platinum also includes the same independent counseling requirement you see with HECM loans.

Platinum vs. HECM: Quick Comparison

FeatureHECMPlatinum Jumbo
Lending Limit (2025)$1,209,750Up to $4,000,000
Minimum Age6255
MIP Required?YesNo
Condo EligibilityStrict FHA rulesExpanded options
Loan TypesFixed + LOCFixed + LOC
Best ForModerate-value homesHigh-value homes and borrowers needing more proceeds

Should You Consider a Platinum Jumbo Reverse Mortgage?

Here’s when it makes sense:

  • Your home is worth more than the HECM lending limit

  • You need access to a larger portion of your equity

  • You own a condo that doesn’t meet HUD rules

  • You are 55–61 and don’t qualify for a HECM

  • You want a fixed rate and no mortgage insurance premiums

  • You want flexibility for estate planning or long-term care planning

In short, Platinum gives you more options where HECM stops.

See Your Platinum Eligibility in Seconds

If you want a clear, real number — not a rough estimate — you can check your Platinum loan amount instantly.

  • No personal information.
  • Real-time rates and APR.
  • Accurate age-based LTV.

Get an instant quote or call us at (800) 565-1722 to walk through your options together.  We’ve been helping older homeowners for more than 20 years, and we are always happy to explain every detail in plain English.