{"id":23091,"date":"2026-01-28T03:54:13","date_gmt":"2026-01-28T03:54:13","guid":{"rendered":"https:\/\/budgetadirect.com\/?p=23091"},"modified":"2026-01-28T03:54:14","modified_gmt":"2026-01-28T03:54:14","slug":"best-reverse-mortgage-lenders-of-2025","status":"publish","type":"post","link":"https:\/\/budgetadirect.com\/?p=23091","title":{"rendered":"Best Reverse Mortgage Lenders Of 2025"},"content":{"rendered":"<div id=\"\">\n<div class=\"overflow-hidden relative bg-blue-50 aspect-video w-full rounded-lg\"><\/div>\n<p>\n            pamspix\/Getty Images: Illustration by Issiah Davis\/Bankrate\n        <\/p>\n<\/p><\/div>\n<div xmlns:default=\"http:\/\/www.w3.org\/2000\/svg\">\n<p>Reverse mortgages generally allow homeowners aged 62 or older to tap their home equity and receive tax-free cash payments while remaining in their homes. To help you compare reverse mortgage options, we\u2019ve rounded up a list of the best reverse mortgage lenders to consider.<\/p>\n<p><span id=\"best-lenders\" data-table-of-contents-category=\"best-lenders\" aria-hidden=\"true\"\/><\/p>\n<h2 id=\"best-lenders\" data-position=\"1\" data-beam-element-viewed=\"\" data-id=\"br-h2-1-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Best reverse mortgage lenders\" data-outcome=\"\">Best reverse mortgage lenders<\/h2>\n<div class=\"my-16\">\n<div class=\"ProductCard\">\n<div class=\"ProductCard-body\">\n<ul class=\"Accordion w-full\">\n<li x-id=\"['panel-highlight', 'heading-highlight']\" x-data=\"{ expanded: 1 }\" class=\"Accordion-item\">\n        <button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" aria-expanded=\"true\" :id=\"$id('heading-highlight')\" :aria-controls=\"$id('panel-highlight')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><\/p>\n<p>        <!-- htmlmin:ignore --><\/p>\n<h4 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Highlight<br \/>\n    <\/h4>\n<p>    <!-- htmlmin:ignore --><\/p>\n<p>        <span class=\"Accordion-icon Icon mb-0 block leading-none Icon--xs icon-base-gray-900\" aria-hidden=\"true\"><br \/>\n            <default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Caret Down Icon<\/default:title><br \/>\n<default:path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/default:svg>        <\/span><br \/>\n    <\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-highlight')\" :aria-labelledby=\"$id('heading-highlight')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\">\n<div class=\"Accordion-content text-gray-700\">\n<div class=\"wysiwyg wysiwyg--flush has-links text-gray-700\">\n<p>Finance of\u00a0America\u2019s reverse mortgage packages include unique options for different types of borrowers.\u00a0The lender acquired American Advisors Group (AAG), another major reverse mortgage lender.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<\/li>\n<li x-id=\"['panel-reverse-mortgage-options-and-requirements', 'heading-reverse-mortgage-options-and-requirements']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n        <button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-reverse-mortgage-options-and-requirements')\" :aria-controls=\"$id('panel-reverse-mortgage-options-and-requirements')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><\/p>\n<p>        <!-- htmlmin:ignore --><\/p>\n<h4 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Reverse mortgage options and requirements<br \/>\n    <\/h4>\n<p>    <!-- htmlmin:ignore --><\/p>\n<p>        <span class=\"Accordion-icon Icon mb-0 block leading-none Icon--xs icon-base-gray-900\" aria-hidden=\"true\"><br \/>\n            <default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Caret Down Icon<\/default:title><br \/>\n<default:path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/default:svg>        <\/span><br \/>\n    <\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-reverse-mortgage-options-and-requirements')\" :aria-labelledby=\"$id('heading-reverse-mortgage-options-and-requirements')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700\">\n<div class=\"wysiwyg wysiwyg--flush has-links text-gray-700\">\n<p dir=\"ltr\">Home Equity Conversion Mortgage (HECM), lump sum, line of credit, reverse for purchase, HomeSafe (jumbo)<\/p>\n<ul>\n<li dir=\"ltr\" aria-level=\"1\">For HECMs, borrowers must be aged 62 or older and have considerable equity or own their home free and clear and live there, and undergo HUD-approved counseling<\/li>\n<li dir=\"ltr\" aria-level=\"1\">For\u00a0HomeSafe, borrowers must be aged 55 or older<\/li>\n<li dir=\"ltr\" aria-level=\"1\">Must continue to pay for homeowners insurance and maintenance, property taxes and any HOA dues<\/li>\n<li dir=\"ltr\" aria-level=\"1\">Must pay HECM mortgage insurance premiums when loan comes due<\/li>\n<\/ul>\n<\/div><\/div>\n<\/p><\/div>\n<\/li>\n<li x-id=\"['panel-pros-and-cons', 'heading-pros-and-cons']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n        <button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-pros-and-cons')\" :aria-controls=\"$id('panel-pros-and-cons')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><\/p>\n<p>        <!-- htmlmin:ignore --><\/p>\n<h4 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Pros and cons<br \/>\n    <\/h4>\n<p>    <!-- htmlmin:ignore --><\/p>\n<p>        <span class=\"Accordion-icon Icon mb-0 block leading-none Icon--xs icon-base-gray-900\" aria-hidden=\"true\"><br \/>\n            <default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Caret Down Icon<\/default:title><br \/>\n<default:path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/default:svg>        <\/span><br \/>\n    <\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-pros-and-cons')\" :aria-labelledby=\"$id('heading-pros-and-cons')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700\">\n<div class=\"ProsAndConsTable\">\n<div class=\"ProsAndConsItem\">\n<div class=\"ProsAndConsItem-headerContainer flex items-center gap-2\">\n<div>\n                <img decoding=\"async\" src=\"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/06\/circle-check.svg.svg+xml\" alt=\"Green circle with a checkmark inside\"\/>\n            <\/div>\n<p>            <!-- htmlmin:ignore --><\/p>\n<h5 class=\"ProsAndConsItem-header\">\n    Pros<br \/>\n    <\/h5>\n<p>    <!-- htmlmin:ignore -->\n        <\/div>\n<ul class=\"ProsAndConsItem-list\">\n<li>Diverse product range<\/li>\n<li>No origination fee on some loans<\/li>\n<\/ul><\/div>\n<div class=\"ProsAndConsItem\">\n<div class=\"ProsAndConsItem-headerContainer flex items-center gap-2\">\n<div>\n                <img decoding=\"async\" src=\"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/06\/remove-circle.svg.svg+xml\" alt=\"Red circle with an X inside\"\/>\n            <\/div>\n<p>            <!-- htmlmin:ignore --><\/p>\n<h5 class=\"ProsAndConsItem-header\">\n    Cons<br \/>\n    <\/h5>\n<p>    <!-- htmlmin:ignore -->\n        <\/div>\n<ul class=\"ProsAndConsItem-list\">\n<li>HomeSafe option not available in every state<\/li>\n<\/ul><\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"my-16\">\n<div class=\"ProductCard\">\n<div class=\"ProductCard-body\">\n<ul class=\"Accordion w-full\">\n<li x-id=\"['panel-highlight', 'heading-highlight']\" x-data=\"{ expanded: 1 }\" class=\"Accordion-item\">\n        <button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" aria-expanded=\"true\" :id=\"$id('heading-highlight')\" :aria-controls=\"$id('panel-highlight')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><\/p>\n<p>        <!-- htmlmin:ignore --><\/p>\n<h4 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Highlight<br \/>\n    <\/h4>\n<p>    <!-- htmlmin:ignore --><\/p>\n<p>        <span class=\"Accordion-icon Icon mb-0 block leading-none Icon--xs icon-base-gray-900\" aria-hidden=\"true\"><br \/>\n            <default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Caret Down Icon<\/default:title><br \/>\n<default:path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/default:svg>        <\/span><br \/>\n    <\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-highlight')\" :aria-labelledby=\"$id('heading-highlight')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\">\n<div class=\"Accordion-content text-gray-700\">\n<div class=\"wysiwyg wysiwyg--flush has-links text-gray-700\">\n<p>Longbridge Financial is one of the top five reverse mortgage lenders in the U.S.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<\/li>\n<li x-id=\"['panel-reverse-mortgage-options-and-requirements', 'heading-reverse-mortgage-options-and-requirements']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n        <button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-reverse-mortgage-options-and-requirements')\" :aria-controls=\"$id('panel-reverse-mortgage-options-and-requirements')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><\/p>\n<p>        <!-- htmlmin:ignore --><\/p>\n<h4 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Reverse mortgage options and requirements<br \/>\n    <\/h4>\n<p>    <!-- htmlmin:ignore --><\/p>\n<p>        <span class=\"Accordion-icon Icon mb-0 block leading-none Icon--xs icon-base-gray-900\" aria-hidden=\"true\"><br \/>\n            <default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Caret Down Icon<\/default:title><br \/>\n<default:path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/default:svg>        <\/span><br \/>\n    <\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-reverse-mortgage-options-and-requirements')\" :aria-labelledby=\"$id('heading-reverse-mortgage-options-and-requirements')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700\">\n<div class=\"wysiwyg wysiwyg--flush has-links text-gray-700\">\n<p dir=\"ltr\">HECM, lump sum, line of credit, reverse for purchase, Platinum (jumbo)<\/p>\n<ul>\n<li dir=\"ltr\" aria-level=\"1\">For HECMs, borrowers must be aged 62 or older and have considerable equity (at least 50%) or own their home free and clear and live there, and undergo HUD-approved counseling<\/li>\n<li dir=\"ltr\" aria-level=\"1\">For Platinum, borrowers must be aged 55 or older<\/li>\n<li dir=\"ltr\" aria-level=\"1\">Must continue to pay for homeowners insurance and maintenance, property taxes and any HOA dues<\/li>\n<li dir=\"ltr\" aria-level=\"1\">Must pay HECM mortgage insurance premiums when loan comes due<\/li>\n<\/ul>\n<\/div><\/div>\n<\/p><\/div>\n<\/li>\n<li x-id=\"['panel-pros-and-cons', 'heading-pros-and-cons']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n        <button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-pros-and-cons')\" :aria-controls=\"$id('panel-pros-and-cons')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><\/p>\n<p>        <!-- htmlmin:ignore --><\/p>\n<h4 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Pros and cons<br \/>\n    <\/h4>\n<p>    <!-- htmlmin:ignore --><\/p>\n<p>        <span class=\"Accordion-icon Icon mb-0 block leading-none Icon--xs icon-base-gray-900\" aria-hidden=\"true\"><br \/>\n            <default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Caret Down Icon<\/default:title><br \/>\n<default:path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/default:svg>        <\/span><br \/>\n    <\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-pros-and-cons')\" :aria-labelledby=\"$id('heading-pros-and-cons')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700\">\n<div class=\"ProsAndConsTable\">\n<div class=\"ProsAndConsItem\">\n<div class=\"ProsAndConsItem-headerContainer flex items-center gap-2\">\n<div>\n                <img decoding=\"async\" src=\"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/06\/circle-check.svg.svg+xml\" alt=\"Green circle with a checkmark inside\"\/>\n            <\/div>\n<p>            <!-- htmlmin:ignore --><\/p>\n<h5 class=\"ProsAndConsItem-header\">\n    Pros<br \/>\n    <\/h5>\n<p>    <!-- htmlmin:ignore -->\n        <\/div>\n<ul class=\"ProsAndConsItem-list\">\n<li>A+ Better Business Bureau rating<\/li>\n<li>Mobile app<\/li>\n<li>$500 discount for members of military<\/li>\n<\/ul><\/div>\n<div class=\"ProsAndConsItem\">\n<div class=\"ProsAndConsItem-headerContainer flex items-center gap-2\">\n<div>\n                <img decoding=\"async\" src=\"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/06\/remove-circle.svg.svg+xml\" alt=\"Red circle with an X inside\"\/>\n            <\/div>\n<p>            <!-- htmlmin:ignore --><\/p>\n<h5 class=\"ProsAndConsItem-header\">\n    Cons<br \/>\n    <\/h5>\n<p>    <!-- htmlmin:ignore -->\n        <\/div>\n<\/p><\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"my-16\">\n<div class=\"ProductCard\">\n<div class=\"ProductCard-body\">\n<ul class=\"Accordion w-full\">\n<li x-id=\"['panel-highlight', 'heading-highlight']\" x-data=\"{ expanded: 1 }\" class=\"Accordion-item\">\n        <button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" aria-expanded=\"true\" :id=\"$id('heading-highlight')\" :aria-controls=\"$id('panel-highlight')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><\/p>\n<p>        <!-- htmlmin:ignore --><\/p>\n<h4 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Highlight<br \/>\n    <\/h4>\n<p>    <!-- htmlmin:ignore --><\/p>\n<p>        <span class=\"Accordion-icon Icon mb-0 block leading-none Icon--xs icon-base-gray-900\" aria-hidden=\"true\"><br \/>\n            <default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Caret Down Icon<\/default:title><br \/>\n<default:path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/default:svg>        <\/span><br \/>\n    <\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-highlight')\" :aria-labelledby=\"$id('heading-highlight')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\">\n<div class=\"Accordion-content text-gray-700\">\n<div class=\"wysiwyg wysiwyg--flush has-links text-gray-700\">\n<p>Mutual of Omaha was the top reverse mortgage lender in the U.S. in 2024. It offers the option to refinance your reverse mortgage (whether it\u2019s with Mutual or another lender) to a better interest rate and\/or higher amount.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<\/li>\n<li x-id=\"['panel-reverse-mortgage-options-and-requirements', 'heading-reverse-mortgage-options-and-requirements']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n        <button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-reverse-mortgage-options-and-requirements')\" :aria-controls=\"$id('panel-reverse-mortgage-options-and-requirements')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><\/p>\n<p>        <!-- htmlmin:ignore --><\/p>\n<h4 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Reverse mortgage options and requirements<br \/>\n    <\/h4>\n<p>    <!-- htmlmin:ignore --><\/p>\n<p>        <span class=\"Accordion-icon Icon mb-0 block leading-none Icon--xs icon-base-gray-900\" aria-hidden=\"true\"><br \/>\n            <default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Caret Down Icon<\/default:title><br \/>\n<default:path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/default:svg>        <\/span><br \/>\n    <\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-reverse-mortgage-options-and-requirements')\" :aria-labelledby=\"$id('heading-reverse-mortgage-options-and-requirements')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700\">\n<div class=\"wysiwyg wysiwyg--flush has-links text-gray-700\">\n<p dir=\"ltr\">HECM, lump sum, line of credit, reverse for purchase, HomeSafe (jumbo)<\/p>\n<ul>\n<li dir=\"ltr\" aria-level=\"1\">Borrowers must be aged 62 or older and have considerable equity or own their home free and clear and live there, and undergo HUD-approved counseling<\/li>\n<li dir=\"ltr\" aria-level=\"1\">Must pay HECM mortgage insurance premiums when loan comes due<\/li>\n<\/ul>\n<\/div><\/div>\n<\/p><\/div>\n<\/li>\n<li x-id=\"['panel-pros-and-cons', 'heading-pros-and-cons']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n        <button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-pros-and-cons')\" :aria-controls=\"$id('panel-pros-and-cons')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><\/p>\n<p>        <!-- htmlmin:ignore --><\/p>\n<h4 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Pros and cons<br \/>\n    <\/h4>\n<p>    <!-- htmlmin:ignore --><\/p>\n<p>        <span class=\"Accordion-icon Icon mb-0 block leading-none Icon--xs icon-base-gray-900\" aria-hidden=\"true\"><br \/>\n            <default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Caret Down Icon<\/default:title><br \/>\n<default:path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/default:svg>        <\/span><br \/>\n    <\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-pros-and-cons')\" :aria-labelledby=\"$id('heading-pros-and-cons')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700\">\n<div class=\"ProsAndConsTable\">\n<div class=\"ProsAndConsItem\">\n<div class=\"ProsAndConsItem-headerContainer flex items-center gap-2\">\n<div>\n                <img decoding=\"async\" src=\"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/06\/circle-check.svg.svg+xml\" alt=\"Green circle with a checkmark inside\"\/>\n            <\/div>\n<p>            <!-- htmlmin:ignore --><\/p>\n<h5 class=\"ProsAndConsItem-header\">\n    Pros<br \/>\n    <\/h5>\n<p>    <!-- htmlmin:ignore -->\n        <\/div>\n<ul class=\"ProsAndConsItem-list\">\n<li>Available in most states<\/li>\n<li>No mortgage insurance on HomeSafe loans<\/li>\n<\/ul><\/div>\n<div class=\"ProsAndConsItem\">\n<div class=\"ProsAndConsItem-headerContainer flex items-center gap-2\">\n<div>\n                <img decoding=\"async\" src=\"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/06\/remove-circle.svg.svg+xml\" alt=\"Red circle with an X inside\"\/>\n            <\/div>\n<p>            <!-- htmlmin:ignore --><\/p>\n<h5 class=\"ProsAndConsItem-header\">\n    Cons<br \/>\n    <\/h5>\n<p>    <!-- htmlmin:ignore -->\n        <\/div>\n<ul class=\"ProsAndConsItem-list\">\n<li>Not available in New York<\/li>\n<li>No products for borrowers younger than 62<\/li>\n<\/ul><\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><span id=\"how-to-find\" data-table-of-contents-category=\"how-to-find\" aria-hidden=\"true\"\/><\/p>\n<h2 id=\"how-to-find\" data-position=\"2\" data-beam-element-viewed=\"\" data-id=\"br-h2-2-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"How to find a reverse mortgage lender\" data-outcome=\"\">How to find a reverse mortgage lender<\/h2>\n<p>You can start exploring reverse mortgage options in your state using HUD\u2019s FHA lender search tool. The search function allows you to search for HECM lenders by state, county and zip code. Just check off the \u201cReverse Mortgages\u201d filter.<\/p>\n<p>Keep in mind: Not every mainstream mortgage lender does reverse mortgages. Rather than looking to your bank, you might be better off with a lender that specializes in these types of loans.<\/p>\n<section class=\"editorial-insight-box --insight-box +mg-vertical-md\" data-template=\"insight_box\">\n<div class=\"card-body border-l-4 border-blue-800\">\n<div class=\"content-wrapper\">\n<p>\n                    Bankrate insight\n                <\/p>\n<div class=\"content wysiwyg wysiwyg--flush\">\n<p>There were 28,172 HECMs originated in 2025, according to the National Reverse Mortgage Lenders Association (NRMLA).<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p>When comparing your top reverse mortgage companies, consider what\u2019s most important to you: your bottom line (the cost), the convenience of the experience and service, or a combination:<\/p>\n<ul class=\"wp-block-list\">\n<li>\n<strong>Costs:<\/strong> While there are no monthly payments with a HECM, it\u2019ll still cost you money to obtain via the interest rate and fees. The closing costs for a HECM are fairly standard across the board, but there are some services that cost more or less depending on the lender. That said, you might be able to negotiate closing costs with the lender.<\/li>\n<li>\n<strong>Customer service:<\/strong> Reverse mortgages have a complicated set of rules, and if you don\u2019t adhere to them, you could lose your home. Pay attention to how responsive the lender is to your queries and review customer reviews and testimonials.<\/li>\n<\/ul>\n<p>Be wary of reverse mortgage scams. These include claims that a reverse mortgage could help you put off claiming Social Security benefits or buy a home with no money down, or require you to sign a document with blank fields.<\/p>\n<p><span id=\"largest-lenders\" data-table-of-contents-category=\"largest-lenders\" aria-hidden=\"true\"\/><\/p>\n<h2 id=\"largest-lenders\" data-position=\"3\" data-beam-element-viewed=\"\" data-id=\"br-h2-3-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Who are the largest reverse mortgage lenders in the U.S.?\" data-outcome=\"\">Who are the largest reverse mortgage lenders in the U.S.?<\/h2>\n<p>The largest HECM lenders based on dollar volume in 2025, according to the most recent data from Reverse Mortgage Insights (RMI):<\/p>\n<ol class=\"wp-block-list\">\n<li>Mutual of Omaha<\/li>\n<li>Finance of America<\/li>\n<li>Longbridge Financial<\/li>\n<li>Goodlife Home Loans<\/li>\n<li>Liberty Reverse Mortgage<\/li>\n<li>Fairway Independent Mortgage Corp.<\/li>\n<li>South River Mortgage<\/li>\n<li>Guild Mortgage<\/li>\n<li>Plaza Home Mortgage<\/li>\n<li>HighTechLending Inc.<\/li>\n<\/ol>\n<p><span id=\"should\" data-table-of-contents-category=\"should\" aria-hidden=\"true\"\/><\/p>\n<h2 id=\"should\" data-position=\"4\" data-beam-element-viewed=\"\" data-id=\"br-h2-4-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Should you get a reverse mortgage?\" data-outcome=\"\">Should you get a reverse mortgage?<\/h2>\n<p>Like any other financial product, there are\u00a0pros and cons to reverse mortgages. If you have substantial equity or your home is paid off, a reverse mortgage can help supplement retirement income or pay for medical expenses or necessary home repairs.<\/p>\n<p><span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">While you won\u2019t need to\u00a0repay the reverse mortgage\u00a0until you pass away, sell or move out of the home, it does have some upfront costs.<\/span> You\u2019ll also need the financial resources to continue paying for homeowners insurance, property taxes, HOA fees (if applicable) and\u00a0home maintenance.<\/p>\n<p><strong>Learn more:<\/strong> Reverse mortgage requirements<\/p>\n<p>If you\u2019re looking for other ways to access your equity, you might consider selling the home and applying the proceeds to your goals, or taking out a\u00a0home equity loan or HELOC.<\/p>\n<p><span id=\"faq\" data-table-of-contents-category=\"faq\" aria-hidden=\"true\"\/><\/p>\n<h2 data-position=\"5\" data-beam-element-viewed=\"\" data-id=\"br-h2-5-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Frequently asked questions\" data-outcome=\"\">Frequently asked questions<\/h2>\n<ul class=\"Accordion w-full align\">\n<li x-id=\"['panel-how-much-money-can-i-get-with-a-reverse-mortgage-loan', 'heading-how-much-money-can-i-get-with-a-reverse-mortgage-loan']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-how-much-money-can-i-get-with-a-reverse-mortgage-loan')\" :aria-controls=\"$id('panel-how-much-money-can-i-get-with-a-reverse-mortgage-loan')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><\/p>\n<h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    How much money can I get with a reverse mortgage loan?<br \/>\n    <\/h3>\n<p><!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Caret Down Icon<\/default:title><br \/>\n<default:path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/default:svg><\/span><\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-how-much-money-can-i-get-with-a-reverse-mortgage-loan')\" :aria-labelledby=\"$id('heading-how-much-money-can-i-get-with-a-reverse-mortgage-loan')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">\n            The amount a homeowner can borrow, known as the principal limit, varies based on the age of the youngest borrower or eligible non-borrowing spouse, current interest rates, the HECM mortgage limit \u2014 $1,249,125 in 2026 \u2014 and the home\u2019s value. The average amount of a reverse mortgage issued in 2024 was about $269,000, according to federal Home Mortgage Disclosure Act data.\n        <\/div>\n<\/div>\n<\/li>\n<li x-id=\"['panel-what-are-the-costs-and-fees-involved', 'heading-what-are-the-costs-and-fees-involved']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-what-are-the-costs-and-fees-involved')\" :aria-controls=\"$id('panel-what-are-the-costs-and-fees-involved')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><\/p>\n<h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    What are the costs and fees involved?<br \/>\n    <\/h3>\n<p><!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Caret Down Icon<\/default:title><br \/>\n<default:path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/default:svg><\/span><\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-what-are-the-costs-and-fees-involved')\" :aria-labelledby=\"$id('heading-what-are-the-costs-and-fees-involved')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">\n<p>With a HECM reverse mortgage, just like a standard purchase mortgage, you\u2019re required to pay closing costs, including:<\/p>\n<ul>\n<li>\n<strong>Mortgage insurance premiums (MIPs)<\/strong><strong>: <\/strong>There\u2019s a 2% initial MIP due at closing, as well as an annual MIP equal to 0.5% of the outstanding loan balance. The MIP can be financed into the loan.<\/li>\n<li>\n<strong>Origination fee<\/strong><strong>:<\/strong> To process your HECM loan, lenders charge the greater of $2,500 or 2% of the first $200,000 of your home\u2019s value, plus 1 percent of the amount over $200,000. The fee is capped at $6,000.<\/li>\n<li>\n<strong>Servicing fees: <\/strong>Lenders can charge a monthly fee to maintain and monitor your HECM for the life of the loan. This monthly servicing fee can\u2019t exceed $30 for loans with a fixed or annually adjusting rate, or $35 if the rate adjusts monthly.<\/li>\n<li>\n<strong>Third-party fees: <\/strong>Third parties can charge their own fees as well, such as for the appraisal and home inspection, a credit check, title search and title insurance or a recording fee.<\/li>\n<\/ul>\n<p>Your reverse mortgage also accrues interest every month. You can roll these charges into the loan balance. Interest rates on reverse mortgages vary by lender, but they tend to be higher than those for a regular mortgage.<\/p>\n<\/div>\n<\/div>\n<\/li>\n<li x-id=\"['panel-how-will-i-receive-payments-on-a-reverse-mortgage', 'heading-how-will-i-receive-payments-on-a-reverse-mortgage']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-how-will-i-receive-payments-on-a-reverse-mortgage')\" :aria-controls=\"$id('panel-how-will-i-receive-payments-on-a-reverse-mortgage')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><\/p>\n<h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    How will I receive payments on a reverse mortgage?<br \/>\n    <\/h3>\n<p><!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Caret Down Icon<\/default:title><br \/>\n<default:path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/default:svg><\/span><\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-how-will-i-receive-payments-on-a-reverse-mortgage')\" :aria-labelledby=\"$id('heading-how-will-i-receive-payments-on-a-reverse-mortgage')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">\n<p>The type of HECM you choose determines your options for payments. With a variable interest rate, your payment options include:<\/p>\n<ul>\n<li>Equal monthly payments, provided the property remains at least one borrower\u2019s primary residence<\/li>\n<li>Equal monthly payments for a fixed period<\/li>\n<li>A line of credit that can be accessed until it runs out<\/li>\n<li>A combination of a line of credit and fixed monthly payments for as long as you live in the home<\/li>\n<li>A combination of a line of credit, plus fixed monthly payments for a set length of time<\/li>\n<\/ul>\n<p>If you choose a HECM with a fixed interest rate instead, you\u2019ll receive a one-time, lump-sum payment.<\/p>\n<\/div>\n<\/div>\n<\/li>\n<\/ul>\n<ul class=\"Accordion\">\n<li x-id=\"['panel-methodology', 'heading-methodology']\" x-data=\"{ expanded: false }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:p-6 group\" :id=\"$id('heading-methodology')\" :aria-controls=\"$id('panel-methodology')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\"><\/p>\n<h3 class=\"Accordion-title mr-2 md:flex-1 my-0\">Methodology<\/h3>\n<p><\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-methodology')\" :labelledby=\"$id('heading-methodology')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\">\n<div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">To determine the best reverse mortgage lenders, Bankrate evaluated lenders based on availability, affordability and borrower experience. Learn more about our methodology.<\/div>\n<\/div>\n<\/li>\n<\/ul>\n<div class=\"HelpfulCTA mx-auto flex flex-col items-center gap-6 my-6 py-12 text-base border-y border-gray-200\" data-helpful-cta=\"\" data-beam-element-viewed=\"\" id=\"did-you-find-this-helpful\" data-type=\"cta\" data-location=\"article-bottom\" data-position=\"banner\" data-text=\"Did you find this page helpful?\">\n<div class=\"HelpfulCTA-initial w-full flex flex-col items-center gap-4\" data-cta-initial=\"\">\n<div class=\"HelpfulCTA-question text-lg font-bold text-center text-gray-900\">\n            Did you find this page helpful?<\/p>\n<div id=\"wPAka2q61d\" class=\"hidden\">\n<div class=\"wysiwyg wysiwyg--sm wysiwyg--flush max-w-xs\">\n<p class=\"mb-6 text-base\">\n                            <strong class=\"block font-bold text-gray-900\">Why we ask for feedback<\/strong><br \/>\n                            Your feedback helps us improve our content and services. 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href=\"https:\/\/www.bankrate.com\/mortgages\/reverse-mortgage-lenders\/\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>pamspix\/Getty Images: Illustration by Issiah Davis\/Bankrate Reverse mortgages generally allow homeowners aged 62 or older to tap their home equity and receive tax-free cash payments while remaining in their homes. To help you compare reverse mortgage options, we\u2019ve rounded up a list of the best reverse mortgage lenders to consider. Best reverse mortgage lenders Highlight<\/p>\n","protected":false},"author":1,"featured_media":23092,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[58],"tags":[],"class_list":{"0":"post-23091","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-homes"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Best Reverse Mortgage Lenders Of 2025 | BudgetADirect<\/title>\n<meta name=\"description\" content=\"pamspix\/Getty Images: Illustration by Issiah Davis\/Bankrate Reverse mortgages generally allow homeowners aged 62 or older to tap their home equity and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/budgetadirect.com\/?p=23091\" \/>\n<meta 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