Longbridge reverse mortgage: HECM parameters and what the lender issues

Longbridge Financial, LLC (NMLS #957935) offers HECMs and one jumbo / proprietary program, Longbridge Platinum (Longbridge Financial, Platinum product page). Longbridge was founded in 2012 (Longbridge Financial, Why Longbridge page). The HECM parameters below are the federal HECM rules Longbridge lends under, with the HUD source in each row; Longbridge Platinum has its own parameter card on this site.

What does Longbridge issue?

Two products sit under the Longbridge license.

The HECM is the standard FHA-insured Home Equity Conversion Mortgage, originated to FHA's published parameters (HUD Handbook 4000.1, Section II.B). The lender does not run an overlay that admits younger borrowers or higher-value homes outside the federal cap. Where Longbridge competes is on pricing margin, the origination-fee schedule, and the servicing experience after closing.

Longbridge Platinum is Longbridge's proprietary program, which Longbridge describes as particularly advantageous for many condo owners and homeowners with higher-value properties (Longbridge Financial, Platinum product page); the FHA HECM cap is $1,249,125 (HUD Mortgagee Letter 2025-22, effective January 1, 2026). Platinum is available from age 55 in select states, lends up to $4 million ($2 million in Massachusetts), and is not FHA-insured. It has its own full parameter card on this site. The product is separate from the HECM: Longbridge says Platinum is not affiliated with the HECM program, and its non-recourse promise comes from the loan contract rather than federal statute (Longbridge Financial, Platinum product page).

This page is the HECM card. For Longbridge Platinum, follow the cross-link.

Published parameters

Source: HUD HECM program rules cited in each row; NMLS Consumer Access entry for Longbridge Financial, LLC, NMLS #957935 · last verified 2026-05-20

Apply for Longbridge HECM through Longbridge Financial →

Eligibility specifics

The federal HECM rules govern Longbridge's HECM. There is no lender overlay that bends the age floor or the value cap. Five tests apply:

Age. 62 minimum for the youngest borrower on the title. Eligible non-borrowing spouses younger than 62 are protected under HUD Mortgagee Letter 2015-15: the spouse can remain in the home after the borrower's death without the loan becoming due and payable, provided the spouse-eligibility criteria are met.

Property. Primary residence. Single-family, FHA-approved condo, manufactured home meeting HUD's foundation requirements (HUD Handbook 4000.1, II.A.1), or 2–4 unit property where the borrower occupies one unit.

Equity. The HUD Principal Limit Factor table determines how much of the home's appraised value (capped at $1,249,125) the loan can access. The PLF is driven by the borrower's age, the expected rate, and the 3.0% expected-rate floor. Existing forward-mortgage balances are paid off at closing from loan proceeds.

Financial assessment is required for every HECM with an FHA case number assigned on or after April 27, 2015 (HUD Mortgagee Letters 2014-21 and 2015-06; HUD Handbook 4000.1, II.B.6). Longbridge runs the assessment to FHA's published standard. Credit, residual income, and a tax-and-insurance payment history are reviewed. Active foreclosure or recent bankruptcy is typically disqualifying.

A HUD-approved counseling certificate is required before the lender processes the application (HUD Handbook 4000.1, II.B.1). The session is independent of the lender and covers obligations, costs, and alternatives.

How it compares

Against AAG (Finance of America Reverse), the two HECM programs are similar at the parameter-sheet level. Both follow the HUD PLF table, both carry the same MIP, both apply the same financial assessment. They differ in lender margin, origination-fee schedule, and which closing-cost line items each lender chooses to absorb or pass through.

Against Longbridge Platinum (the jumbo program), the comparison is structural rather than competitive. The two are different products from the same lender. Longbridge Platinum starts at 55 in select states versus HECM's 62; lends up to $4 million, while a HECM counts home value only up to $1,249,125; carries no mortgage insurance premiums; and relies on a contractual non-recourse promise rather than the federal statute (Longbridge Financial, Platinum product page). A borrower with a $1.8M home should run both calculations side-by-side: Longbridge Platinum can reach equity above the FHA cap that a HECM ignores, but only the HECM carries FHA insurance and federal statutory non-recourse protection.

Against non-Longbridge HECM lenders broadly, Longbridge's distinguishing operational feature is the in-house servicing it retains on a meaningful portion of its book. Borrowers who want to keep the post-closing relationship with the originating lender rather than have the loan sub-serviced often pull toward Longbridge for that reason. The PLF math, MIP, and statutory protections are unchanged regardless of who services the loan.

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