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Compare Reverse Mortgages

From services and mortgage types to plan details and customer support, we research everything you need to compare reverse mortgages and make a decision. Learn how our editors compare the different factors of reverse mortgages below.
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How we Compare Reverse Mortgages

Services - 15%
Mortgage Types - 20%
Qualifications - 15%
Accreditations - 20%
Plan Details - 20%
Customer Support - 10%

Services

Below are the service and features that might be helpful for existing and future borrowers. Clients can get an idea of how much a reverse mortgage costs by using a reverse mortgage calculator. A financial guide is also important to know the do's and don’ts when acquiring a reverse mortgage.

  • Reverse Mortgage Calculator
  • Online Quotation
  • Refinancing
  • Financial Guide

Reverse Mortgages with the Best Services:

American Advisors GroupLendingTreeAll Reverse MortgageReverse Mortgage ExpertReverse Mortgage Advisors of AmericaGuide to LendersHome Point FinancialLive Well FinancialLibertyProficio Mortgage
Reverse Mortgage Calculator
Online Quotation
Refinancing
Financial Guide

Mortgage Types

Lending institutions offer different kinds of reverse mortgages. The borrower must take into account the reason(s) they are getting the reverse mortgage when discriminating between the options. Below are some common reverse mortgages:

  • VA Loans
  • Single-Purpose Reverse Mortgage
  • Home Equity Conversion Mortgage
  • Proprietary Reverse Mortgage

Reverse Mortgages with the Best Mortgage Types:

American Advisors GroupLendingTreeAll Reverse MortgageReverse Mortgage ExpertReverse Mortgage Advisors of AmericaGuide to LendersHome Point FinancialLive Well FinancialLibertyProficio Mortgage
VA Loans
Single-Purpose Reverse Mortgage
Home Equity Conversion Mortgage
Proprietary Reverse Mortgage

Qualifications

Reverse Mortgages are not suitable for everyone, and there are several qualifications you must consider before you apply:

  • Age – Borrower must be at least 62 years old to qualify. Your age determines the amount you can borrow. The older you are, the more you’ll get.  
  • Ownership Status – The borrower should be a titled owner of any of the following: single-unit dwelling, family home, manufactured home, townhouse, approved-condominium, or two-to-four unit owner occupied home.  
  • Counseling – It is required by the federal government for the borrower to attend mortgage counseling. Counselors will explain the consequences and costs related to a reverse mortgage.

Reverse Mortgages with the Best Qualifications:

American Advisors GroupLendingTreeAll Reverse MortgageReverse Mortgage ExpertReverse Mortgage Advisors of AmericaGuide to LendersHome Point FinancialLive Well FinancialLibertyProficio Mortgage
Home Owner
Age62 years and older62 years and older62 years and older62 years and older62 years and older62 years and older62 years and older62 years and older62 years and older62 years and older

Accreditations

The borrower should take into account the lender’s authority, credibility and certification of competency. Accreditations help to recognize safe and secure lending processes. Below is a list of agencies that give operating licenses and authorizations:   

  • National Reverse Mortgage Lenders Association
  • U.S Department of Housing and Urban Development
  • Federal Housing Administration
  • Equal Housing Opportunity

Reverse Mortgages with the Best Accreditations:

American Advisors GroupLendingTreeAll Reverse MortgageReverse Mortgage ExpertReverse Mortgage Advisors of AmericaGuide to LendersHome Point FinancialLive Well FinancialLibertyProficio Mortgage
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

Interest rates, monthly servicing, closing costs and fees may vary depending on the loan amount. We strongly advise clients to discuss their plan details and other charges directly with their preferred lending company.

  • Pre-Payment
  • Monthly Servicing
  • Interest Rate
  • Closing Cost and Fees

Reverse Mortgages with the Best Plan Details:

Customer Support

A reverse mortgage support team should be readily accessible through a variety of communication channels.  This can be done over telephone, email, or through a mobile app. The company should also offer online resources, online detailed information about their product, and FAQs for self-help.

  • Mobile App
  • Telephone Support
  • Email
  • Webinars
  • FAQs 

Reverse Mortgages with the Best Customer Support:

Full Reverse Mortgages Comparison

ServicesMortgage TypesQualificationsAccreditationsPlan DetailsCustomer Support
American Advisors Group Reverse Mortgage9.510.010.010.09.09.5
LendingTree Reverse Mortgage9.010.010.010.09.010.0
All Reverse Mortgage9.09.710.09.710.09.0
Reverse Mortgage Expert9.510.010.010.07.59.9
Reverse Mortgage Advisors of America8.510.010.09.09.09.0
Guide to Lenders Reverse Mortgage9.08.010.09.410.09.0
Good Day Reverse Mortgage9.010.010.010.07.09.5
Reverse Mortgage Educator9.010.09.010.07.09.5
Home Point Financial Reverse Mortgage8.010.010.010.07.08.0
Reverse Mortgage Funding9.07.010.010.08.08.0
Live Well Financial Reverse Mortgage8.09.010.010.07.07.0
Liberty Reverse Mortgage8.08.010.010.07.07.0
NewDay USA Reverse Mortgage7.09.010.08.07.08.0
Proficio Mortgage Reverse Mortgage6.08.010.010.07.07.0
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Latest Reviews

Reviews help other customers make decisions. Share your experience with Reverse Mortgages
Pam Brown
1/17/2017
We have been very happy with our reverse mortgage with AAG that we got over a year ago. Recommend them highly.

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Deanna Gallaher
1/15/2017
I am in the process of getting a reverse mortgage. My husband passed away in August 2016. I maintained my financial obligations until the remainder of my husband's small life insurance that I had after burial expenses was exhausted. I found it impossible to maintain these with less than 1/2 of the income we received while he was alive. I thought I was going to have to file bankruptcy but was advised by my attorney to look into reverse mortgage. I applied for a regular mortgage loan with Howard Bank. My loan officers said I had to maintain paying 100% of my creditors until the loan came to a close in a few months. I found this to be impossible. That is when I contacted OneReverseMortgage when refered by Quicken Loans. I contacted a lady named Brit Wheeler. She gave me details on a reverse mortgage loan and she set my mind at ease and gave me hope that I could get the money I needed to pay off all my creditors and the balance of my second mortgage. I told her that I would think about it and call her back. I researched the information she gave me first because I was misled by Howard Bank. I researched the info over the weekend and called her back on Monday. She told me the steps of the process and helped me with honest answers to any questions I had. It is a longer process than I thought it would be, but she assured me if I couldn't meet all my financial obligations that her company would understand that is why I was applying for the loan and gave me confidence that I would be okay. She prepared an estimate of every detail of two different loan options to examine as I went through the credit counseling that was mandatory. It made the counseling easier for me understand the pros and cons. After the counseling she explained in depth any questions I had. I've been conditionally approved and am getting close to the closing process. Even though it has not yet been closed I feel pretty confident that it will be approved. If not it is for reasons out of the company's control. I've always been a nervous wreck when applying for any loans. This loan is much more important to me than any other I've ever applied for. With the help of Brit Wheeler I have been able to remain comfortable. Brit is very easy to talk to and one of the most caring and compassionate person in this line of work I have ever met. She lets me know every detailed updates that she is aware of. She is on top of her game and treats her clients like family. I could have never made it through the steps of the loan process without her help. Right now it is out of her hands until the final steps are made. If there is anything that keeps me from getting the loan it is only if my home does not meet FHA standards and I was told that from day one from Brit Wheeler. She has made the process I dreaded a pleasurable experience. The world needs more people in the world like her. I'm blessed to have met her regardless of the outcome. The only delays I have had were out of the hands of the company. They have been doing everything possible to bring it to a close. I would highly recommend this company and if you are lucky Brit Wheeler will be the specialist you will have. Thanks Brit! Sincerely, Deanna Gallaher

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Rick E
1/3/2017
I would like AAG to know that Tamara Ritter is a definite asset to the organization. She went above my expectations each time we spoke or otherwise communicated and expertly handled the red tape thrown at us by the board of my HOA. In addition to recommending AAG, I am recommending her.

Reviews help other customers make decisions. Share your experience with Reverse Mortgages