There are two types of reverse mortgages currently available: the FHA-insured HECM (Home Equity Conversion Mortgage) that is frequently advertised on TV, and a new proprietary loan referred to as a Jumbo Reverse. Jumbos are primarily designed for people who have homes worth over $800,000 or non-FHA-approved condos worth more than $500,000. Jumbos allow homeowners to access more of their wealth than is possible with an FHA product.