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A reverse mortgage (or lifetime mortgage) is a loan available to seniors, and is used to release the home equity in the property as one lump sum or multiple payments.
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan.
In the United States, a jumbo mortgage is a mortgage loan in an amount above conventional conforming loan limits. The average interest rates on jumbo mortgages are typically higher than for conforming mortgages.
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