The reverse mortgage market has changed significantly since 2011, when Wells Fargo and Bank of America abandoned the industry, creating opportunities for smaller, specialized lenders to take their place.
Mutual of Omaha Mortgage currently leads the pack of reverse mortgage lenders in 2024, according to market data. Competition among top providers remains intense, with Finance of America Reverse funding over $17 billion in reverse mortgages since 2019. Longbridge Financial also shows strong performance, having reported $2.12 billion in loans for 2022.
Home Equity Conversion Mortgage (HECM) loans are experiencing a notable decline in popularity. Fewer than 33,000 borrowers obtained these loans in fiscal year 2023, down substantially from over 65,000 in 2022. The 2024 borrowing cap for HECM loans stands at $1,149,825 for qualified borrowers, still representing a significant financial resource for seniors.
Selecting from the most reputable reverse mortgage companies demands thorough research, as processing times and terms vary widely between lenders. Fairway Independent Mortgage claims to close loans in as few as 17 days, while other companies may require up to 45 days to complete the process. This guide examines the top 10 reverse mortgage companies worth considering in 2025.
Longbridge Financial
Longbridge Financial stands at the forefront of specialized reverse mortgage lenders, helping seniors access their home equity to address retirement financial challenges. Founded in 2012 by former employees of MetLife, New York Life, and Fidelity, this New Jersey-based company has quickly established itself as one of the top 10 reverse mortgage companies in the market.
Why Longbridge Financial is a trusted reverse mortgage company
Longbridge’s reputation stems from its approach to reverse mortgages. As a Federal Housing Administration (FHA) approved lender, the company maintains an A+ rating with the Better Business Bureau. Their membership in the National Reverse Mortgage Lenders Association demonstrates their commitment to ethical lending practices.
What sets Longbridge apart is their personalized service philosophy. Their loan officers take time to understand clients’ goals, home situations, and financial circumstances before recommending solutions. As a Government National Mortgage Association (GNMA)-approved lender, Longbridge services all its loans—meaning clients deal with only one company throughout their loan’s lifetime.
Longbridge Financial customer satisfaction and BBB rating
Customer feedback consistently places Longbridge among the highest rated reverse mortgage companies. On Trustpilot, they’ve accumulated over 750 reviews with an impressive score of 4.8 out of 5. The company has maintained BBB accreditation since 2013 with their A+ rating.
Despite handling thousands of loans, Longbridge has received remarkably few complaints—only 14-23 over the past three years, with all issues addressed and resolved. In June 2023, DBRS Morningstar confirmed Longbridge’s MOR RVO2 rating, categorizing it as ‘good’ with a ‘Stable’ outlook, citing their experienced staff, profitability, and strong loan performance.
Longbridge Financial loan options and transparency
Longbridge offers several reverse mortgage options to meet diverse needs:
- Standard HECM loans for homeowners 62 and older
- HECM for Purchase loans for those wanting to buy a new home
- Longbridge Platinum, their proprietary jumbo reverse mortgage, available to homeowners as young as 55 with loans up to $4 million
Their Platinum program particularly stands out with its expanded eligibility for condominiums, attractive low-rate options, and non-recourse protection—meaning borrowers never owe more than their home is worth when the loan is repaid.
Transparency remains central to Longbridge’s operations, with educational materials available through their website. They also provide 24/7/365 access to account information via an online portal and are the only active lender and servicer offering a mobile application for both iOS and Android devices.
Longbridge Financial pricing and fees
On the cost front, Longbridge consistently offers competitive rates at the lower end of the spectrum compared to other lenders. Unlike many competitors who charge monthly servicing fees of up to $35, Longbridge charges no such fees—resulting in significant savings over the life of the loan.
The company also extends a $500 discount on closing costs to active duty military servicemembers and veterans. Standard reverse mortgage fees still apply, including an appraisal fee (approximately $575), origination fees (capped by FHA), and a counseling session fee (about $125).
For their Platinum jumbo loans, Longbridge offers even lower upfront costs and eliminates mortgage insurance premiums, potentially saving borrowers thousands over the loan’s lifetime.
Finance of America Reverse
Finance of America Reverse has cemented its position among the top 10 reverse mortgage companies since its founding in 2003. With approximately 27% market share and over 350,000 customers served, FAR processes more than $7.4 billion in funded loans annually, making it a formidable player in the reverse mortgage industry.
Finance of America Reverse reputation and history
Finance of America Reverse strengthened its position in 2023 by merging with American Advisors Group (AAG), the largest reverse mortgage lender by volume. This strategic acquisition formed part of the company’s vision to create a retirement solutions platform for older homeowners.
The company faced legal challenges in the past. In one notable case, Finance of America Reverse agreed to pay $2.47 million to resolve allegations that a predecessor entity violated the False Claims Act. Despite this settlement, FAR has maintained an A+ accreditation with the Better Business Bureau, reflecting its commitment to ethical business practices.
Finance of America Reverse product variety
FAR distinguishes itself through its extensive range of reverse mortgage products:
- HomeSafe Standard: A full-draw reverse mortgage with fixed-rate options and no origination fees
- HomeSafe Select: Similar to a HELOC but with reverse mortgage benefits – no minimum draw amount or origination fees
- HECM loans: Government-insured options for homeowners 62 and older
- Jumbo loans: Proprietary reverse mortgages available for amounts up to $4 million
FAR offers greater age flexibility than many competitors. While traditional HECM loans require borrowers to be 62+, FAR’s proprietary reverse mortgage options are available to homeowners as young as 55 in most states.
Finance of America Reverse customer reviews
Customer satisfaction remains a notable strength, with FAR earning an average rating of 4.6/5.0 stars from more than 1,000 consumer reviews. Clients frequently describe FAR representatives as “knowledgeable,” “helpful,” and even “fabulous”.
Some negative feedback exists. According to BBB data, there were 35 total complaints in the last three years, with 15 complaints closed in the last 12 months. Common issues relate to service following the AAG acquisition, with some customers reporting difficulties accessing their accounts.
Finance of America Reverse pricing and transparency
FAR offers distinct pricing advantages. Their HomeSafe products feature no monthly mortgage insurance premiums or origination fees. Without these costs, the total loan expense is typically lower than with traditional HECM products.
FAR doesn’t publish specific rates online, but they disclose that standard closing costs apply, including appraisal fees, title insurance, and settlement charges. In certain situations, lender credits may reduce out-of-pocket expenses, occasionally allowing borrowers to close without any upfront fees.
Finance of America Reverse provides a range of reverse mortgage solutions, making it worthy of consideration for many seniors seeking to access their home equity.
Mutual of Omaha Mortgage
Mutual of Omaha traces its roots back to 1909, making it one of the oldest financial institutions in the reverse mortgage market. Though its mortgage division only launched in 2016, it quickly rose to become the nation’s second-largest reverse mortgage provider.
Mutual of Omaha’s legacy and trustworthiness
The company’s long-standing presence in financial services provides a strong foundation for its reverse mortgage operations. Mutual of Omaha functions as a mutual company, prioritizing customer financial goals over shareholder returns. This customer-first approach has helped them maintain an A+ rating with the Better Business Bureau.
Mutual of Omaha stands apart from other reverse mortgage providers through its deep understanding of senior financial needs. Home equity makes up roughly two-thirds of an average retiree’s net worth according to U.S. Census Bureau data. The company has strategically positioned itself to help homeowners access this significant but often untapped retirement resource.
Mutual of Omaha Mortgage customer service experience
Customer satisfaction represents a key strength for Mutual of Omaha Mortgage, with strong ratings across review platforms:
- 4.7 out of 5 stars from 880 Trustpilot reviews
- 4.8 out of 5 stars from 8 Facebook reviews
- 3.82 stars from 131 BBB reviews
New borrowers often highlight Mutual of Omaha’s responsive service and individualized attention to loan applications. The company shows commitment to resolving complaints, with representatives actively addressing customer feedback issues.
Mutual of Omaha Mortgage loan types and features
Mutual of Omaha provides four primary reverse mortgage products:
- Standard HECM reverse mortgage – The traditional FHA-backed option with a $1,209,750 loan limit for 2025
- HECM for purchase – Enables seniors to use reverse mortgage funds to buy a new home
- HomeSafe reverse mortgage – A proprietary product for high-value homes offering loans up to $4 million
- Refinance options – Allows refinancing of existing reverse mortgages for potentially improved terms
The company shows greater flexibility with credit requirements than many competitors. They don’t establish minimum credit scores for conventional loans and accept scores as low as 550 for certain government-backed options.
Their typical application process takes about 45 days and requires working with a loan officer. While this approach might initially seem less convenient than online-only alternatives, many clients report that the guidance throughout the process creates a smoother, more reassuring experience.
For retirees confronting inflation, unexpected costs, and increased longevity, Mutual of Omaha presents its reverse mortgage products as strategic financial planning tools rather than last-resort options. Their educational resources, including various online calculators, help prospective borrowers determine whether a reverse mortgage fits their long-term financial strategy.
Guild Mortgage
Guild Mortgage has quickly established itself among top reverse mortgage companies thanks to its strong customer service focus. Originally known for traditional mortgages since 1960, the company expanded into reverse mortgages through strategic acquisitions.
Guild’s business model centers on creating “customers for life,” which led naturally to their reverse mortgage division. Jim Cory, who manages Guild’s reverse division, explained: “I always like to say that you can’t really present ‘customer-for-life’ if you don’t have a reverse mortgage offering. So, our division fits in perfectly with that”.
The company balances technology with human connection in their service approach. Their MyMortgage digital portal offers paperless applications while maintaining personalized service, acknowledging that “while improved technology has certainly made the lending process faster and more efficient, most customers still need and want a personal touch”.
Guild’s quality service earned them the J.D. Power award for “Highest in Customer Satisfaction with Primary Mortgage Origination in the U.S.” in 2021, scoring 884 out of 1,000 points. This represented a 35-point increase from their 2020 performance and exceeded the industry average of 851.
The company maintains an A+ Better Business Bureau rating and has committed to following BBB Standards for Trust, demonstrating their focus on ethical business practices.
Guild expanded its reverse mortgage capabilities by acquiring Cherry Creek Mortgage in March 2023. Their Flex Payment Mortgages offer seniors various options:
- Lump sum payments for major expenses
- Line of credit access for as-needed funds
- Monthly payments to boost retirement income
- Custom combinations of these options
This expansion helped Guild climb to eighth place among HECM lenders, with 430 endorsements between October 2023 and August 2024, up from 265 in the previous period.
Terry Schmidt, Guild’s president, explained their strategy: “The acquisition of Cherry Creek Mortgage and its reverse mortgage division continues to align with our customer for life strategy. This new combination of resources enables us to expand our business to meet a growing market need”.
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation stands out among reverse mortgage providers by offering notably faster closing times than competitors. While most lenders take 30-60 days to complete reverse mortgages, Fairway claims to finish the process in as little as 17 days from application.
Fairway’s business approach centers on ethical practices beyond mere transactions. Their company philosophy states that “the way we do things is just as important as what we do”. This customer-focused strategy is supported by their extensive network of over 500 branch locations nationwide and more than 3,000 mortgage professionals available to assist seniors.
Industry recognition confirms Fairway’s service quality. The company secured third place in J.D. Power’s 2022 U.S. Mortgage Origination Satisfaction Study, with only Chase and Rocket Mortgage ranking higher. For 2024, Fairway’s score exceeded the study average by nearly 20 points.
Customer reviews further validate Fairway’s reputation. The company maintains an A+ Better Business Bureau rating with a 4.96 out of 5-star average from more than 2,000 customer reviews. Their ratings show consistent performance across multiple platforms, with 4.9 out of 5 stars from 456,590 reviews on one platform and similar scores on three other review sites.
Fairway offers three main reverse mortgage products:
- Home Equity Conversion Mortgage (HECM): The standard FHA-insured reverse mortgage option
- Jumbo Reverse Mortgage: For accessing more equity on properties valued beyond the current HECM limit of $1,209,750
- HECM For Purchase: Designed specifically to help seniors buy new homes better suited for retirement
Eligibility requirements include being 62 or older, owning a home outright or having significant equity, using the property as a primary residence, meeting basic credit and property requirements, and completing HUD-approved counseling.
Throughout the application process, Fairway’s Reverse Mortgage Planners provide guidance to help seniors understand their options and navigate the application steps.
Liberty Reverse Mortgage
Liberty Reverse Mortgage stands out among leading reverse mortgage providers through its distinctive fee structure and diverse loan offerings. The company has served over 75,000 borrowers seeking to access their home equity, establishing itself as one of the largest reverse mortgage lenders in the country.
Liberty Reverse Mortgage’s no-fee structure
Liberty Reverse Mortgage takes an unusual approach to closing costs by rolling these expenses into the loan itself. Borrowers need only pay for one out-of-pocket expense—the required counseling session with a HUD-approved agency. The bundled costs typically include:
- FHA mortgage insurance
- Origination fees
- Title and closing settlement fees
This model particularly benefits seniors with limited available cash who still need to tap into their home equity.
Liberty Reverse Mortgage trust ratings and reviews
Liberty maintains membership in the National Reverse Mortgage Lenders Association (NRMLA), adhering to their code of ethics that emphasizes fairness, integrity, and professionalism. Consumer feedback shows moderate satisfaction, with the company earning a 4.3 out of 5 stars average from 207 reviews on ConsumerAffairs.
The company offers online resources including a two-step reverse mortgage calculator that helps potential borrowers estimate costs before beginning the application process.
Liberty Reverse Mortgage loan types
Liberty focuses on three main reverse mortgage products:
- Home Equity Conversion Mortgages (HECMs): The standard FHA-insured reverse mortgages available to homeowners 62 and older
- HECM for Purchase: Designed for seniors looking to buy a new home without making monthly mortgage payments
- EquityIQ: Liberty’s proprietary jumbo reverse mortgage for homeowners 55+ with higher-value homes, providing up to $4 million in funding without requiring mortgage insurance premiums
Liberty’s typical application process takes 30-45 days, positioning it as a middle-ground option for processing time among reverse mortgage providers when weighing both thoroughness and efficiency.
South River Mortgage
South River Mortgage ranks as the fourth largest reverse mortgage lender in the United States. Based in Maryland, the company combines technology solutions with individual attention to differentiate itself in the reverse mortgage market.
South River Mortgage’s growing reputation
South River Mortgage began as a broker in 2019 before strategically evolving into a direct lender, a change that improved their processing efficiency. Company President Tyler Plack highlighted this transformation: “Having transitioned to an FHA-approved lender has been, strategically, one of the best moves that we’ve made”.
The company maintains an A+ Better Business Bureau rating despite not being BBB accredited. Their emphasis on technology-driven solutions has made them popular among seniors who prioritize efficiency in the loan process.
South River Mortgage customer service and support
Customer feedback shows strong satisfaction with South River’s services, reflected in their 4.5-star Google rating. Clients frequently mention the company’s responsive communication and clear guidance. One borrower noted: “Any calls I made with questions were returned immediately and answers were always provided within a day”.
The company has earned 3.59/5 stars across 32 BBB customer reviews, with many clients giving 5-star ratings based on the personalized attention they received during the loan process.
South River Mortgage loan options
South River offers several reverse mortgage products:
- Their proprietary HomeForLife product with customized options and faster closing times
- Standard HECM loans, which make up about 80% of their business
- Specialized options with shorter processing periods than industry averages
With an average closing time of 26 days, South River processes loans faster than many competitors, making them worth considering for seniors who value efficiency when exploring reverse mortgage options.
GoodLife Home Loans
GoodLife Home Loans began operations in 2012 as a family-owned business focused on improving retirement security for seniors through ethical reverse mortgage services. The company functions as Traditional Mortgage Acceptance Corporation (TMAC) doing business as GoodLife, and serves as a well-capitalized secondary market purchaser of reverse mortgages.
GoodLife entered the market when the reverse mortgage industry had reputation problems, specifically aiming to raise standards through ethical lending practices. The company holds BBB accreditation with an A+ rating, showing their commitment to marketplace trust. According to HUD data, GoodLife maintained the lowest adjustable rates on average among reverse mortgage lenders with 200+ loans in 2021.
The company’s approach differs from other lenders in its family-oriented philosophy—they commit to advising clients as if they were family members. GoodLife operates transparently, providing complete facts and figures upfront to help seniors make informed decisions about accessing their home equity.
Customer reviews consistently highlight GoodLife’s service quality. The company earned a five-star rating on Trustpilot. One client described their experience as “very positive,” noting that their loan officer was “extremely patient and helpful.”
GoodLife assigns each client a dedicated reverse mortgage expert who guides them through every step from application to funding. Loan officers take time to understand clients’ specific goals and priorities, creating customized approaches based on individual needs.
For pricing, GoodLife may charge an origination fee, mortgage insurance premium (where required by HUD), closing costs, and servicing fees—typically incorporated into the loan balance. Currently offering reverse mortgages in 38 states, the company helps seniors evaluate whether this financial tool fits their retirement plans.
GoodLife provides educational resources covering various reverse mortgage types, including Home Equity Conversion Mortgages (HECMs), single-purpose reverse mortgages, and proprietary reverse mortgages. These options address different needs, from funding specific expenses like home repairs to accessing larger loan amounts than traditional reverse mortgages offer.
Plaza Home Mortgage
Plaza Home Mortgage has been underwriting and funding FHA reverse mortgages since 2008, operating as an approved Ginnie Mae HMBS issuer. The San Diego-based wholesale and correspondent lender serves all 50 states, with a product lineup including conventional, government-backed, and reverse mortgage options.
Plaza Home Mortgage’s ethical lending practices
Fair and responsible lending forms the foundation of Plaza Home Mortgage’s business philosophy. The company maintains a comprehensive non-discrimination policy, making credit available to qualified applicants regardless of race, color, religion, sex, marital status, age, national origin, or disability status. Plaza views sustainable homeownership as providing “long-term economic prosperity and quality of life for individuals and families throughout neighborhoods and communities”.
Plaza previously faced legal challenges. In 2013, the company paid $3 million to settle Justice Department allegations regarding discriminatory lending practices toward African-American and Hispanic borrowers. Plaza cooperated with the investigation and established race and national origin-neutral standards for broker fees, showing commitment to reforming practices.
Plaza Home Mortgage customer satisfaction
Plaza implements strong privacy protections for customer information. The company utilizes technological solutions alongside physical and organizational safeguards to protect against unauthorized access to sensitive data.
When issues arise, Plaza offers accessible channels for addressing concerns. Their client-focused approach emphasizes problem-solving rather than problem-creating, with their website stating they “focus on being your problem solvers – not creators”.
Plaza Home Mortgage reverse mortgage offerings
The company’s reverse mortgage division features a streamlined process called “Ready Reverse,” guiding clients through the entire lending journey. The program includes fast pre-qualifications, compliant counseling packages, and comprehensive closing documentation.
Plaza’s reverse mortgage products include:
- Traditional fixed and adjustable HECM loans
- Reverse mortgages for home purchase transactions
- Both Correspondent and Wholesale channel options
A dedicated support team assists brokers and borrowers throughout the process. Plaza provides extensive educational resources, including “continuing education, live webinars, self-paced courses and personalized training”. This educational approach helps seniors understand reverse mortgage complexities and determine whether such products suit their financial needs.
HighTechLending
!Image
Image Source: hightechlending.com
HighTechLending operates from Irvine, California, marketing reverse mortgages through its American Senior division. The company has built a presence in approximately 30 states over its 19 years in the mortgage business, receiving BBB accreditation in April 2021.
HighTechLending’s commitment to transparency
The company’s transparency record has been inconsistent. In 2017, the Washington State Department of Financial Institutions charged HighTechLending with using “false, deceptive, and misleading advertising” targeting seniors. The allegations claimed they falsely represented that borrowers could stay in their homes for life without making monthly payments. The company later implemented policies aimed at preventing similar advertising violations.
HighTechLending now discloses key information about HECM loans, including mortgage insurance premiums (initial 2% and annual 0.5%), third-party charges, origination fees, interest, and servicing fees. Their origination fees are clearly stated as “the greater of $2,500 or 2% of the first $200,000 of home value plus 1% of the amount over $200,000,” with a $6,000 cap.
HighTechLending customer reviews and ratings
Customer feedback has earned HighTechLending an A+ BBB rating with a 4.93/5-star average from 14 customer reviews. The company shows consistent performance across other platforms:
- 100% recommendation rate from 26 Facebook reviews
- 3.8/5 stars from 27 Yelp reviews
- 4.96/5 stars from 143 Zillow reviews
Recent clients often describe the company’s loan officers as “knowledgeable,” “personable,” and “professional”.
HighTechLending reverse mortgage products
The lender offers several reverse mortgage options:
- Standard HECM loans for borrowers 62+
- Reverse mortgages for those as young as 55 in select states
- Loans up to $4 million for qualified borrowers
HighTechLending promotes optional monthly mortgage payments as a key benefit, though borrowers must still pay property taxes and homeowners insurance to avoid foreclosure.
Comparison Table
The following table offers a side-by-side comparison of key metrics and features across the top reverse mortgage lenders of 2025. BBB ratings, customer review scores, and product offerings reveal significant differences that may influence borrower decisions.
| Company Name | BBB Rating | Customer Review Score | Notable Features/Strengths | Key Products | Min. Age | Max Loan Amount |
|---|---|---|---|---|---|---|
| Longbridge Financial | A+ | 4.8/5 (Trustpilot) | No monthly servicing fees; Mobile app available | HECM, HECM for Purchase, Platinum | 55 | $4 million |
| Finance of America Reverse | A+ | 4.6/5 | 27% market share; No origination fees on HomeSafe | HECM, HomeSafe Standard, HomeSafe Select | 55 | $4 million |
| Mutual of Omaha Mortgage | A+ | 4.7/5 (Trustpilot) | Century-long legacy; Flexible credit requirements | HECM, HECM for Purchase, HomeSafe | 62 | $4 million |
| Guild Mortgage | A+ | 884/1000 (J.D. Power) | Strong customer satisfaction ratings | HECM, Flex Payment Mortgages | 62 | Not mentioned |
| Fairway Independent Mortgage | A+ | 4.96/5 (BBB) | 17-day closing capability | HECM, Jumbo, HECM for Purchase | 62 | $1,209,750+ |
| Liberty Reverse Mortgage | Not mentioned | 4.3/5 (ConsumerAffairs) | No upfront closing costs | HECM, HECM for Purchase, EquityIQ | 55 | $4 million |
| South River Mortgage | A+ | 4.5/5 (Google) | 26-day average closing time | HECM, HomeForLife | 62 | Not mentioned |
| GoodLife Home Loans | A+ | 5/5 (Trustpilot) | Lowest adjustable rates (2021) | HECM, Proprietary options | 62 | Not mentioned |
| Plaza Home Mortgage | Not mentioned | Not mentioned | Available in all 50 states | HECM, Fixed & Adjustable options | 62 | Not mentioned |
| HighTechLending | A+ | 4.93/5 (BBB) | Available in 30 states | HECM, Proprietary options | 55 | $4 million |
Comparison Table
| Company Name | BBB Rating | Customer Review Score | Notable Features/Strengths | Key Products | Min. Age | Max Loan Amount |
|---|---|---|---|---|---|---|
| Longbridge Financial | A+ | 4.8/5 (Trustpilot) | No monthly servicing fees; Mobile app available | HECM, HECM for Purchase, Platinum | 55 | $4 million |
| Finance of America Reverse | A+ | 4.6/5 | 27% market share; No origination fees on HomeSafe | HECM, HomeSafe Standard, HomeSafe Select | 55 | $4 million |
| Mutual of Omaha Mortgage | A+ | 4.7/5 (Trustpilot) | Century-long legacy; Flexible credit requirements | HECM, HECM for Purchase, HomeSafe | 62 | $4 million |
| Guild Mortgage | A+ | 884/1000 (J.D. Power) | Strong customer satisfaction ratings | HECM, Flex Payment Mortgages | 62 | Not mentioned |
| Fairway Independent Mortgage | A+ | 4.96/5 (BBB) | 17-day closing capability | HECM, Jumbo, HECM for Purchase | 62 | $1,209,750+ |
| Liberty Reverse Mortgage | Not mentioned | 4.3/5 (ConsumerAffairs) | No upfront closing costs | HECM, HECM for Purchase, EquityIQ | 55 | $4 million |
| South River Mortgage | A+ | 4.5/5 (Google) | 26-day average closing time | HECM, HomeForLife | 62 | Not mentioned |
| GoodLife Home Loans | A+ | 5/5 (Trustpilot) | Lowest adjustable rates (2021) | HECM, Proprietary options | 62 | Not mentioned |
| Plaza Home Mortgage | Not mentioned | Not mentioned | Available in all 50 states | HECM, Fixed & Adjustable options | 62 | Not mentioned |
| HighTechLending | A+ | 4.93/5 (BBB) | Available in 30 states | HECM, Proprietary options | 55 | $4 million |
Conclusion
Selecting the right reverse mortgage lender significantly impacts the quality of experience when accessing home equity in retirement. The review of top reverse mortgage companies for 2025 reveals distinct advantages across different providers. Longbridge Financial offers no monthly servicing fees, while Fairway Independent Mortgage delivers closings in as few as 17 days. GoodLife Home Loans provides some of the lowest adjustable rates in the industry, and Finance of America Reverse holds 27% of the market share.
Each lender brings different strengths to the table. Most companies now provide jumbo loan options up to $4 million, far exceeding the standard HECM limit of $1,209,750. Several lenders have reduced age requirements to 55 years, compared to the traditional 62-year minimum for HECM loans.
BBB ratings remain consistently high across these companies, though customer satisfaction scores range from Liberty’s 4.3/5 to Fairway’s 4.96/5. These metrics should be considered alongside loan terms and fees when making decisions. Potential borrowers should examine loan options, processing times, and fee structures to find the best match for their financial needs.
The reverse mortgage industry continues to evolve since major banks exited in 2011. Despite HECM loans declining to fewer than 33,000 in fiscal year 2023 from over 65,000 in 2022, reverse mortgages remain a substantial financial option for qualified seniors seeking to supplement retirement income or address specific financial needs.
The best choice among these top-rated companies ultimately depends on individual priorities, whether that means minimizing fees, maximizing loan amounts, or ensuring supportive customer service.
FAQs
Q1. Which reverse mortgage company is considered the most reputable? While reputability can vary, companies like Longbridge Financial, Finance of America Reverse, and Mutual of Omaha Mortgage consistently rank highly for their customer service, loan options, and industry experience. It’s important to compare multiple lenders to find the best fit for your specific needs.
Q2. How should I go about selecting a reverse mortgage lender? When choosing a reverse mortgage lender, consider factors such as loan types offered, costs (including interest rates and fees), and customer service ratings. Request quotes from multiple lenders, compare their offerings, and read customer reviews to make an informed decision.
Q3. Who is the best resource for information about reverse mortgages? A HUD-approved reverse mortgage counselor is an excellent resource for unbiased information. These professionals can provide comprehensive guidance on reverse mortgages and help you understand if this financial product is right for your situation. You can find a counselor through the HUD website or by calling (800) 569-4287.
Q4. What are the key differences among top reverse mortgage companies? Top reverse mortgage companies differ in several ways, including loan options, maximum loan amounts, minimum age requirements, and fee structures. For example, some offer proprietary jumbo loans up to $4 million, while others specialize in government-backed HECM loans. Customer service quality and closing times also vary among lenders.
Q5. Are there any potential drawbacks to consider with reverse mortgages? While reverse mortgages can provide financial flexibility for seniors, they also come with considerations. These may include high upfront costs, the potential impact on inheritance plans, and the requirement to maintain the home and pay property taxes and insurance. It’s crucial to fully understand these aspects before deciding if a reverse mortgage is right for you.
