Jumbo Reverse Program Launched

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MORTGAGE EXPERT
6 · 01 · 10

A new reverse mortgage program targets homes valued at more than $1 million.

The program was announced today by Generation Mortgage Co.

Dubbed Generation Plus, the loan can be used for homes valued up to $6 million.

The Atlanta-based lender, which claims to be “the largest privately owned reverse mortgage retailer and wholesaler in the United States,” boasts that the program is the only fixed-rate jumbo reverse loan available for higher-valued homes.

Generation said that the minimum property value for the program is $500,000.

Properties in “most states” are eligible.

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Mortgage Daily Staff

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