A reverse mortgage can be a valuable financial tool for homeowners looking to supplement their retirement income, pay for unexpected expenses, or access the equity in their home. Reverse mortgages can be offered by a range of lenders, each with their own products, rates, and terms. In this article, we will explore the best reverse mortgage companies, based on factors such as customer satisfaction, product offerings, fees, and transparency.
American Advisors Group (AAG)
American Advisors Group (AAG) is a leading provider of reverse mortgages, with a focus on providing quality service and transparency. AAG offers both Home Equity Conversion Mortgages (HECMs) and proprietary reverse mortgages, with a range of options for how the payments are made. AAG is also known for its celebrity spokesperson, Tom Selleck, who has been promoting the company’s reverse mortgage products since 2016.
One of the key benefits of AAG is its commitment to transparency and education. The company provides a wealth of resources for homeowners considering a reverse mortgage, including articles, videos, and webinars. AAG also has a high customer satisfaction rating, with a 96% satisfaction rate according to Trustpilot.
Finance of America Reverse (FAR)
Finance of America Reverse (FAR) is another leading provider of reverse mortgages, offering both HECMs and proprietary reverse mortgages. FAR is known for its flexible products and competitive rates, as well as its commitment to customer service.
FAR offers a range of options for how the payments are made, including a line of credit, lump sum payment, monthly payments, or a combination of these options. FAR also offers a streamlined application process, with many applications approved within 48 hours. Additionally, FAR has a 4.9 out of 5 rating on Trustpilot.
One Reverse Mortgage
One Reverse Mortgage is a division of Quicken Loans, one of the largest mortgage lenders in the country. One Reverse Mortgage offers a range of reverse mortgage products, including HECMs and proprietary reverse mortgages. One Reverse Mortgage is known for its competitive rates, streamlined application process, and commitment to customer service.
One Reverse Mortgage also offers a range of resources for homeowners considering a reverse mortgage, including a calculator to estimate how much you may be able to borrow. One Reverse Mortgage has a 4.7 out of 5 rating on Trustpilot.
Liberty Home Equity Solutions
Liberty Home Equity Solutions is a leading provider of reverse mortgages, offering both HECMs and proprietary reverse mortgages. Liberty is known for its competitive rates, flexible payment options, and commitment to customer service.
One of the key benefits of Liberty is its focus on providing education and resources for homeowners considering a reverse mortgage. Liberty offers a range of online resources, including articles, videos, and a calculator to estimate how much you may be able to borrow. Liberty also has a 4.9 out of 5 rating on Trustpilot.
Reverse Mortgage Funding LLC (RMF)
Reverse Mortgage Funding LLC (RMF) is a leading provider of reverse mortgages, offering both HECMs and proprietary reverse mortgages. RMF is known for its competitive rates, flexible payment options, and commitment to customer service.
RMF offers a range of resources for homeowners considering a reverse mortgage, including articles, videos, and a calculator to estimate how much you may be able to borrow. RMF also offers a streamlined application process, with many applications approved within 48 hours. Additionally, RMF has a 4.9 out of 5 rating on Trustpilot.
Longbridge Financial LLC
Longbridge Financial LLC is a leading provider of reverse mortgages, offering both HECMs and proprietary reverse mortgages. Longbridge is known for its competitive rates, flexible payment options, and commitment to