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Finance of America Reverse Review

Rating: 8.2 / 10 (Excellent)
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Finance of America Reverse is a direct lender focused solely on reverse mortgages. Founded in 2003, FAR operates in 43 states and is based in Oklahoma. This company offers a proprietary reverse mortgage plan which doesn't require FHA approval, as well as standard single-purpose and veteran variants, which are backed by the FHA and VA.

How is Finance of America Reverse rated?

Breakdown

8/10
Lender Details
8/10
Loans
8/10
Consumer Experience

Overall Rating: 8.2 / 10 (Excellent)

Finance of America Reverse is the reverse mortgage arm of Finance of America, and, in turn part of The Blackstone Group. They've been part of the premier mortgage lenders in the United States since 2003, and have generally good reviews. However, their online experience leaves something to be desired, especially in comparison with the amount of resources that other, comparably-sized lenders provide.

Lender Details

Lender Type
Lender
2016 HECM Loan Value
$243,131,078
Nationwide Mortgage Licensing System ID
2285
Nationwide Mortgage Regulatory Actions
2

Lender Details - 8.2 / 10

While they're not the lender with the most reverse mortgage originations on our list, Finance of America Reverse has remarkably few regulatory actions against them, especially as relates to comparable lenders. Besides being an Equal Housing Lender, they're also members of National Aging in Place Council.

Finance of America Reverse Loans

Loan Types
HECM Traditional
Proprietary Reverse Mortgage
Payout Options
Lump Sum Payment
Monthly Payments

Loans - 8.2 / 10

Finance of America Reverse traditional HECM loans and jumbo reverse mortgages, for homes whose appraisal value surpasses federal limits. Borrowers can choose to obtain their money through monthly payments, or as a single lump sum. However, the company does not offer reverse mortgages in seven states.

Finance of America Reverse Consumer Experience

Total Consumer Financial Protection Bureau Complaints
42
Site Features & Mobile App
Home Equity Calculator
BBB Rating
A+
Trust Pilot Rating
9.3 out of 10
Date Collected
2017-08-17

Consumer Experience - 8.2 / 10

Finance of America Reverse has good ratings across many different consumer review websites, with customers reporting high levels of satisfaction. However, their site doesn't offer the same level of interactive tools and resources as comparable lenders, only allowing access to a home equity calculator.

Contact & Additional Info

Homepage URL
Company Phone
(855) 421-4745
Headquarters Address
8909 South Yale Avenue, Tulsa, OK, 74137
Mailing Address
8909 South Yale Avenue, Tulsa, OK, 74137
Year Founded
2003

Our Partner
8.2 / 10
  • Equal Housing Lender
  • NRMLA Member
  • Member of National Aging in Place Council
  • Borrow up to $2.25 Million with HomeSafe Reverse Mortgage
  • HomeSafe offers no initial disbursement limitation or mortgage insurance premium if qualified
  • Competitive fixed interest rate and lump-sum draw

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Finance of America Reverse