It feels like it has been a few years since the popular Financial Freedom Jumbo loan was discountinued.

Here is some news about the new jumbo product from Generation Mortgage.

The product is tailored specifically for seniors whose homes appraise higher than than $1,000,000 said the company.

“Many owners of higher-valued homes find themselves in the position of being house rich and cash poor,” said Jeff Lewis, Chairman of Generation Mortgage. “With our Plus loan, these owners can receive the liquidity they require without having to sell their home or other assets. And, with an improving real estate market, this offering becomes even more attractive.”

According to the company, the minimum home value eligible is $500,000.  Borrowers are required to receive a HECM counseling certificate in order to obtain the loan and the product includes a $25 servicing fee (not a set aside).  Additionally, seniors can use the Prime to purchase a home.

When we have more details and a calculator we will post them here…

In the meantime, simply call 1-888-823-6125 to speak with an expert.