Best Reverse Mortgage Lenders of 2025

Pamspix/Getty Images: Illustrations by Issiah Davis/Bankrate

In reverse mortgages, homeowners over the age of 62 will generally receive tax-free cash payments if they stay at home. To compare reverse mortgage options, we have compiled a list of the best reverse mortgage lenders to consider.

Best Reverse Mortgage Lenders

How to Find a Reverse Mortgage Lender

You can start researching your state’s reverse mortgage options using HUD’s FHA lender search tool. You can use the search function to search for HECM lenders by state, county, and zip code. Check the “Reverse Mortgage” filter.

Keep in mind: Not all mainstream mortgage lenders will take reverse mortgages. Rather than looking at your bank, you may be better off having a lender who specializes in these types of loans.

When comparing top reverse mortgage companies, think about the most important things to you: your revenue (cost), the convenience of experience and service, or combination:

• cost – HECM does not have monthly payments, but costs money to get through interest and fees. Although HECM closure costs are generally fairly standard, there are some services that are more or less expensive depending on the lender. That said, you may be able to negotiate the closing costs with the lender.
• Customer Service – Reverse mortgages have complex rules and if you don’t follow them, you may lose your home. Be aware of how much your lender responds to your queries, customer reviews and testimony.

Beware of reverse mortgage scams. These include claims that reverse mortgages must postpone social security benefits claims, buy a home without money, and sign documents with blank fields.

Who is the largest reverse mortgage lender in the United States?

According to federal data, the largest reverse mortgage lenders based on the 2024 dollar amount are:

1. The US finances are reversed
2. Omaha’s mutual
3. Longbridge Financial
4. Phh Home Loan
5. Accepting traditional mortgages
6. HighteChlending
7. Nationwide Stocks
8. Guild Home Loan
9. Plaza Home Home Loan
10. Fairway Independent Home Loan

Do I need to get a reverse mortgage?

Like other financial products, there are advantages and disadvantages of reversed mortgages. If you have substantial capital or your home is paid back, a reverse mortgage can help you compensate for your retirement income or pay for medical expenses or repairs to your home.

You don’t need to pay back your reverse mortgage until you die, sell, or leave the house, but there are upfront costs. You will also need financial resources to continue paying homeowner insurance, property taxes, HOA fees (if applicable), and home maintenance.

learn more: Reverse mortgage requirements

If you’re looking for other ways to access equity, you can consider selling your home and applying revenue to your goals, or taking out a home equity loan or HELOC.

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