Reverse Mortgage Lenders List
Welcome to Reverse Mortgage Lenders List. Our site features licensed reverse mortgage lenders in all 50 states.
What is a Reverse Mortgage?
A reverse mortgage, also referred to as a home equity conversion mortgage (HECM), is a home loan that lets borrowers convert some of the equity in a home into cash or a line of credit. The equity built up over years of making mortgage payments can be paid back to the homeowner. However, unlike a traditional home equity loan or second mortgage, reverse mortgage borrowers do not have to make monthly payments on the HECM loan until the they no longer use the home as their principal residence or fail to meet the stated obligations of the mortgage such as keeping the property in shape, making tax payments or paying HOA fees and homeowners insurance. A Reverse Mortgage Purchase Loan can also be used to purchase a primary residence if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing.
Featured Reverse Mortgage Lenders
- Generation Mortgage Company - Generation Mortgage Company is the largest independently owned national reverse mortgage lender in the country.
- Urban Financial Group - Owned by the fame Knight Capital Group, Urban Financial is one of the top 3 reverse mortgage lenders in the country.
- First National Bank - Based out of Layton, Utah, First National Bank has quickly rose to the top of the charts in terms of reverse mortgage orgination.
- One Reverse Mortgage - One Reverse Mortgage is owned by Quicken Loans, and is currently one of the largest lenders within the reverse mortgage space.