Longbridge Financial has good standing in the reverse mortgage industry. This isn't always the case as reverse mortgages in general can have a controversial reputation. This is likely in part due to the fact that Longbridge does a great deal to offer prospective customers educational tools and a wealth of online information to specifically spell out the entire reverse mortgage process. The company's online "Reverse Mortgage 101" resource explains what they are, what they aren't, and who is a good candidate. If after reviewing your situation the company feels a revierse mortgage is not the right thing for you, they will say so, and not make any attempt to sell you on the loan. Additionally, the company's loan officers have many combined years experience in the industry.

One of the best things Longbridge offers is its online interface. The reverse mortgage calculator is very robust, with highly specific results. Users must first input their estimated home value, and after filling out the rest of the form, they are shown pie charts for both a traditional HECM and the Longbridge Platinum proprietary loan. To further speak to their reputation, Longbridge is a NRMLA Member, has an A+ with the BBB, and a 4.7 out of 5 with Trustpilot.

Longbridge offers traditional HECMs, HECM for Purchase, and a product called Longbridge Platinum, a non-government reverse mortgage program for properties up to $4,000,000. Customers can choose to receive their money as a single lump sum payment, monthly disbursals, a line of credit, or any combination of the three. In terms of fees, the company is very up front. They promise to feature no hidden or gotcha fees and will make sure customers are well aware of all charges before they agree. Longbridge does charge an origination fee that will depend on the home's value, FHA mortgage insurance which ensures one can never owe more than the house is worth regardless of the ultimate size of the loan, and third party closing costs, which can include home appraisal costs, credit checks, title insurance, and the FHA-mandated counseling session fee.

Like all reverse mortgages, Longbridge offers the product to homeowners 62 and older who meet the eligibility requirements. Prospective applicants must live in the home as a principal residence. The home must also meet minimum HUD property standards, and not have any outstanding federal tax liens. Finally, applicants must have made all property tax payments for the last two years. Those who still have a mortgage aren't necessarily ineligible, as in some cases the reverse mortgage can be used to pay off the outstanding balance.