By Steven Hyde, Founder, Hyde Funding · NMLS #391380. Reviewed October 20, 2026. Hyde Funding is a mortgage lender headquartered at 8996 Miramar Rd., Suite 250, San Diego, lending since 2015.
Short answer: Reverse mortgage offers are not all the same. HUD sets the HECM mortgage insurance and loan limit, but each lender sets its own margin or rate, origination fee (within HUD’s cap) and other costs. With one call, Hyde Funding can shop your reverse mortgage with several lenders. We compare HECM and jumbo (proprietary) options for you and show you the offers side by side.
Most people get one reverse mortgage quote and stop there. We work the other way. You tell us your goals once, and we request offers from several reverse mortgage lenders and lay them out side by side in plain English. You choose the offer that fits you.
Hyde Funding can shop your reverse mortgage with lenders such as Finance of America, Longbridge Financial, Fairway, Guild Mortgage, Mutual of Omaha and South River Mortgage.
Programs, terms and availability vary by lender and change over time. Not every lender offers every program in every situation. Lender names are shown for information only and are not endorsements.
An adjustable-rate HECM’s rate is an index plus the lender’s margin. The margin is set by the lender and stays fixed for the life of the loan, so compare margins closely. A lower margin usually means the balance grows more slowly. A higher margin can come with lender credits that reduce your closing costs. A fixed-rate HECM is generally a single lump-sum draw, so compare the rate and ask how much cash you can take.
HUD caps the HECM origination fee: the greater of $2,500 or 2% of the first $200,000 of your home’s value plus 1% of the amount over $200,000, with a maximum of $6,000. Lenders can charge less, and some offers include credits. Ask each lender for the exact figure.
For a HECM, FHA charges an upfront MIP of 2% of the maximum claim amount and an annual MIP of 0.5% of the loan balance. These are set by HUD and are the same at every lender. A proprietary (jumbo) reverse mortgage is not FHA-insured and has no FHA MIP, but it has its own pricing.
Appraisal, title, escrow and recording costs come from outside companies. Ask whether the offer includes a monthly servicing fee and who will service the loan after closing. The servicer is who you will deal with for statements and line-of-credit draws.
For a HECM, your principal limit depends on the age of the youngest borrower (or eligible non-borrowing spouse), the expected interest rate, and the lower of your home’s value, the sale price or the HECM limit. A lower expected rate can mean more money available, so the margin affects both your costs and your proceeds.
Under federal Truth in Lending rules, lenders must give you a Total Annual Loan Cost disclosure for a reverse mortgage. It shows projected yearly costs over different time periods, which makes it a good way to compare offers apples to apples.
HECM: Insured by FHA. The youngest borrower must be at least 62, the home must be your primary residence, and you must complete counseling with a HUD-approved counselor before you apply. For 2026 the HECM maximum claim amount is $1,249,125 nationwide (HUD Mortgagee Letter 2025-22).
Jumbo or proprietary: A private loan, not FHA-insured. Lenders design these for homes worth more than the HECM limit, which is common in San Diego. Ages, property types, rates and fees vary by lender and program. We compare them against a HECM so you can see which gives you more for your situation.
Have a quick question first? Ask any mortgage question, or start with our reverse mortgage guide.
Get written offers for the same loan type and compare the margin or fixed rate, the origination fee, other closing costs, any servicing fee, and the total annual loan cost disclosure. Hyde Funding can request and compare those offers from several lenders for you with one call to (858) 775-1005.
No. HUD sets the mortgage insurance premiums and the maximum claim amount, which are the same everywhere. Lenders set their own margins, rates, origination fees within HUD’s cap, and other costs, so offers can differ.
For FHA case numbers assigned in 2026, the HECM maximum claim amount is $1,249,125 nationwide, set by HUD Mortgagee Letter 2025-22. Homes worth more can still use a HECM, but the loan is calculated on no more than that amount.
A proprietary or jumbo reverse mortgage may be an option. These are private loans, not FHA-insured, with terms set by each lender. We can compare them side by side with a HECM for you.
Yes for a HECM. Federal rules require you to meet with a HUD-approved housing counselor before you apply. Proprietary programs set their own requirements, and counseling is still a good idea.
Hyde Funding can shop your reverse mortgage with lenders such as Finance of America, Longbridge Financial, Fairway, Guild Mortgage, Mutual of Omaha and South River Mortgage. Availability depends on your home, age and program.
Comparing lenders works best when every offer is for the same loan type, the same home value and the same payout plan. Here’s how we run it for San Diego homeowners:
Before you compare, it helps to understand reverse mortgage closing costs, ongoing costs and when a jumbo reverse mortgage in California may beat a HECM. Local details are on our San Diego reverse mortgage page.
I shop six reverse lenders for you. Call for today’s rates.
Hyde Funding · 8996 Miramar Rd., Suite 250, San Diego · NMLS #391380 · Lending since 2015
Yes. For homes near or above the 2026 HECM limit of $1,249,125, we request both and show the available proceeds, costs and terms side by side so you can see which fits better.
The FHA rules for a HECM are the same everywhere. A local lender that shops several national reverse lenders lets you compare their pricing while working with someone who knows San Diego property taxes, Mello-Roos, condo approvals and insurance issues.
Steven Hyde, NMLS #391380. Hyde Funding, 8996 Miramar Rd., Suite 250, San Diego, CA. Equal Housing Opportunity. Hyde Funding is not affiliated with HUD, FHA or any government agency. Lenders named are listed for information and are not endorsements. This is general information, not a loan commitment. You must live in the home, pay property taxes, insurance and upkeep, and the loan becomes due when the last borrower leaves the home.