LendingTree Reverse Mortgage Review

#2 in Reverse Mortgages

LendingTree is a Marketing Lead Generator and Duly Licensed Mortgage Broker that offers reverse mortgages through its network of lenders. It offers homeowners 62 and older a convenient application process for reverse mortgages. It also empowers homeowners to select the best offers by letting banks and lending services compete for their business.

Services and Features

LendingTree compares different offers and helps clients find lenders to meet their needs. The company provides details about the types of mortgages available in your area. LendingTree initially requires clients to fill out information so they can get an idea and summary estimation of what a reverse mortgage is going to cost them.

LendingTree offers single purpose reverse mortgages. These loans are commonly used for home improvements, payment of property taxes, and energy-efficiency enhancements.  

LendingTree also features proprietary reverse mortgages, also known as jumbo reverse mortgages. This type of disbursement is typically offered by a private financing sector. The difference with this kind of reverse mortgage is that borrowers are not required to attend a counseling session.   

LendingTree provides online resources that prospective customers can use to educate themselves about the pros and cons of reverse mortgages. The company also transparently discusses the potential problems and risks that may be associated with reverse mortgages.       

Services and Features

Reverse Mortgage Calculator

Online Quotation

Refinancing

Financial Guide

Types of Reverse Mortgage

VA Loans

Single-Purpose Reverse Mortgage

Home Equity Conversion Mortgage

Proprietary Reverse Mortgage

Qualifications

Counseling

Home Owner

Amount of Equity

Not Stated

Age

62 and older

Accreditation

Member of US Department of Housing and Urban Development

Member of Nation Reverse Mortgage Lenders Association

Insured by FHA

Approved by Equal Housing Opportunity

Plan Details

No Pre-Payment

Not Stated

No Monthly Servicing

$35/month

Interest Rate

Not Stated

Closing Cost and Fees

$20

Help and Support

Mobile App

Telephone Support

Webinars

Email

FAQs

Reverse Mortgages at LendingTree

LendingTree is an excellent choice for homeowners searching for a reverse mortgage. It empowers prospective borrowers to choose the best deal by letting multiple lenders compete for their business. You don't have to fill out and send multiple applications. just go through the process once and LendingTree will take it from there.

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