Help your clients access more home equity. And offer them more options.
Platinum proprietary reverse mortgage solutions offer a number of ways to help clients potentially unlock more of their home equity than a standard Home Equity Conversion Mortgage (HECM) and enjoy greater financial flexibility.
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| Maximize Cash for Today | Safety Net for Tomorrow | Home Equity for the Future |
| For clients who need a large lump sum to make a major purchase or consolidate high-interest debt: | For those who want some cash now, with a line of credit for unexpected expenses or life events: | For senior homeowners who need some cash now, but want to preserve some equity for their heirs: |
| Platinum Fixed | Platinum Line of Credit1 | Platinum Preserve®2 |
Whatever their financial priority, there’s a Platinum solution for that.
No matter which option they choose, they’ll enjoy all the great benefits of Platinum:
- Optional monthly mortgage payments (keeping current with property taxes, insurance, and maintenance is required)
- Loan amounts up to $4 million3
- Lower minimum borrower age of 554
- Wider range of eligible home values and expanded eligibility for condos
- Non-recourse protection: they can never owe more than their home is worth when it’s sold and the loan is repaid, even if it loses value
- No penalty for early payoff
PLATINUM PROMISE
Protects the borrower’s Principal Limit Factor (PLF) for 30 days from the application date. If market changes reduce the PLF and the borrower chooses not to proceed, Longbridge will reimburse their third-party fees—plus $150.*
*This is not an interest rate lock. Platinum interest rates float until closing. Longbridge, in its sole discretion, may change the PLF tables used for the loan at any time. If you close within 30 days from the date of application, we will strive to use the original PLF table set on the date of application. If Longbridge revises the PLF table within the 30-day period due to unforeseen market conditions, you will be notified. The Platinum Promise means that should you decide not to move forward, Longbridge will offer a refund of your out-of-pocket third-party fees (appraisal fee(s)) plus $150.00. To qualify for reimbursement, the loan must be approved, and all underwriting criteria, obligations, and conditions of the loan must be met. While in most circumstances we will be able to give time to close the loan under the original PLF table, this may not always be feasible due to factors such as adverse changes in market conditions. Additional terms and conditions may apply. Longbridge Platinum is not available in all states.
Help your clients select the Platinum option that's best for them
| Ideal For… | Key Features | |
| Platinum Fixed | Large upfront cash needs | Lump sum payout at a fixed rate |
| Platinum Line of Credit1 | Flexible access to funds | Upfront cash + reusable LOC |
| Platinum Preserve®2 | Legacy planning | Cash now, preserve 10-40% equity |
Offer your clients more options while you enjoy Platinum advantages.
- Servicing website for all loans, to give clients exceptional service even after closing
- Competitive compensation
- The PAA Advantage: flexible pricing and the ability to set your own origination fee5 to maximize your success
- Open-ended line of credit, off ering more pricing options for Brokers—including the ability to charge origination fees
- Simple structure, and streamlined approval process
Contact An Account Executive today.
- Borrowers who elect a fixed rate loan will receive a single disbursement lump sum payment. Other payment options are available only for adjustable rate mortgages.
- Platinum Preserve® is an option available in certain states which, if chosen, allows borrowers to preserve a percentage of the equity of the property, under certain circumstances, at the conclusion of the loan. Subject to terms and conditions of the Platinum Preserve® program. Please contact Longbridge Financial LLC for more details.
- The state of MA has a maximum loan amount/lending limit of $2,000,000.
- Available to borrowers as young as 55 in select states only. Higher minimum age requirements may apply.
- Applies to lenders only.
Longbridge Platinum Reverse Mortgage (“Platinum”) is Longbridge Financial, LLC’s proprietary loan program and is not affiliated with the Home Equity Conversion Mortgage (HECM) loan program, which is insured by FHA. Platinum is available to qualified borrowers who also may be eligible for FHA’s HECM program or are seeking loan proceeds that are higher than FHA’s HECM program limit. Platinum currently is available only for eligible properties in select states. Please contact your loan originator to see if it is currently available in your state.