Best Reverse Mortgage Lenders
We evaluated dozens of products to find the top lenders specializing in Home Equity Conversion Mortgages. Compare trusted national providers, understand eligibility requirements, and find specialists nearest to you.
Directory Quick Actions
Editorial Disclosure: Our opinions are our own. The content on this page is for informational purposes only. We may earn a commission from partner links.
We may receive compensation from some lenders featured on this page. This does not influence our rankings, which are based on independent research, product availability, and borrower fit.
Recommended Partners
Top Reverse Mortgage Lenders Nationwide
Takes less than 60 seconds.
Our Take on Fairway
Fairway is best suited for borrowers who want a guided, advisor-led experience rather than navigating a fully digital process. Compared to specialized reverse mortgage lenders, Fairway leans more traditional, which can be beneficial for first-time borrowers but may limit flexibility for higher-value or more complex scenarios.
What we like
- Strong retail network with local advisors
- Standard HECM options (fixed + adjustable)
- In-house reverse mortgage specialists
- Best for borrowers who want a guided, advisor-driven experience rather than a fully digital process.
What we don't like
- Jumbo reverse options have strict minimums.
- Mobile app experience can be lacking.
Takes less than 60 seconds.
Takes less than 60 seconds.
Takes less than 60 seconds.
Compare Top Reverse Mortgage Lenders
| Lender | Best For | Service Area | Product Highlights | Action |
|---|---|---|---|---|
| Fairway Independent | Hands-On Guidance (Local Advisors) | National | Work directly with local advisors. Strong support for first-time borrowers. | |
| Longbridge Financial | High-Value Homes & Jumbo Loans | National | Access equity above FHA limits. One of the leaders in jumbo reverse mortgages. | |
| Mutual of Omaha | Simple, Trusted Reverse Mortgage | National | Straightforward FHA-backed reverse mortgages from a nationally recognized brand. | |
| Finance of America | Maximum Flexibility & Custom Payouts | National | Multiple payout structures and proprietary loan options for higher flexibility. |
What Is a Reverse Mortgage?
A reverse mortgage is a highly regulated loan that allows homeowners aged 62 and older to borrow against the equity they’ve built in their home. The most popular type is the Home Equity Conversion Mortgage (HECM), which is fully insured by the Federal Housing Administration (FHA).
How Reverse Mortgages Work
Unlike a traditional "forward" mortgage where you make monthly payments to a lender to steadily reduce your loan balance, a reverse mortgage completely eliminates your required monthly mortgage payments. Instead, the lender pays you.
- Your home remains entirely in your name.
- You continue to live in the house as your primary residence.
- The loan requires no monthly repayments as long as you live in the home.
- The balance is repaid when you sell the home, move out permanently, or pass away.
How to Choose a Reverse Mortgage Lender
Finding the right lender is crucial because reverse mortgages are complex products. Look for the following when interviewing brokers:
- HUD Approval: Verify they are licensed to originate federally insured HECM loans.
- Origination Fees: Compare closing costs. Some lenders will waive origination fees to win your business.
- Customer Satisfaction: Use our directory to find local providers with 5-star Google review histories.
- Counseling Requirements: Reputable lenders will eagerly mandate third-party HUD counseling.
Frequently Asked Questions
What is a reverse mortgage?
It is a loan for seniors aged 62+ that converts home equity into cash. It requires no monthly mortgage payments as long as the borrower lives in the home and maintains taxes, insurance, and upkeep.
Who qualifies for a reverse mortgage?
You must be at least 62 years old, own your home outright (or carry a low enough balance that can be paid off at closing), live in the home as your primary residence, and afford ongoing property taxes and homeowner's insurance.
How do I compare reverse mortgage lenders?
Look for lenders with low closing costs, strong consumer ratings, and a willingness to clearly explain HECM versus proprietary jumbo options. Use tables like the one above to cross-reference their specialties.
Are reverse mortgage lenders available nationwide?
While top national affiliates operate in most states, local laws vary. That's why directories are critical for identifying specialists directly licensed in your state.
Don’t Apply for a Reverse Mortgage Until You Read This
A Free Reverse Mortgage Guide for Homeowners 62+
Most homeowners don’t fully understand reverse mortgage costs, eligibility, and payout options. This quick guide shows you exactly what to expect before you move forward.
Download the Free GuideBuilt specifically for homeowners age 62 and older
Browse Reverse Mortgage Lenders by State
Select your state below to find specialized providers and local licensing information.