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Do you know of any lender who would offer a reverse mortgage on a multiple dwelling worth between $6 and $8 million?

by barn3s20 from New York, New York. 20 days ago Reply


Sara Deere (SARAinMO)
#1 ranked lender in Kansas - 475 contributions

Reverse mortgages are available on residential properties only. If you are trying to purchase a duplex, triplex, or four-plex, then the reverse mortgage would be possible as long as the reverse mortgage borrower(s) lives within the dwelling too

20 days ago
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 7,628 contributions

RM's are for owner occupied, primary residence only.. Assuming you lived on one of the units, then FHA allows you to do a RM on up to 4 units.. if that's the case, then yes. but your still limited to the maximum loan amount for FHA reverse mortgages, which depending on your age is less than $500K.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

19 days ago
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Sara Deere (SARAinMO)
#1 ranked lender in Kansas - 475 contributions

The maximum loan amount for Reverse Mortgage FHA products is different than traditional FHA loan products. The maximum loan amount is $636,150.00.

7 days ago
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