Rate This:Top 3 Reverse Mortgage Lenders
Discover the top-rated lenders who can help homeowners ages 62 and up to get reverse mortgages -- which are great for supplementing retirement income and covering large or ongoing expenses. Choosing the best lender is key. Unlike traditional mortgage lenders, the top-rated reverse mortgage lenders aren't traditional banks and credit unions -- we've ranked the top three as American Advisors Group, Seniors Reverse Mortgage Solutions and Liberty Home Equity Solutions. These lenders can help seniors who own their homes outright get additional retirement income via lump sums or regular payments. Are you considering getting a reverse mortgage on your home? If so, read on and learn more about where to find the best reverse mortgage options.8 Active Questions | Add a Question
Most reverse mortgage lenders, including those in our top three, belong to the National Reverse Mortgage Lenders Association. This means these lenders have committed to interacting with borrowers in ethical, responsible ways.
Seniors who take out reverse mortgages on their homes must maintain comprehensive homeowners insurance policies. That's also a requirement with these top three lenders.
People who get reverse mortgages can stay in their homes for the rest of their lives. After their passing, the home is sold and the mortgage is paid off. However, some lenders such as American Advisors Group offer heirs the chance to pay back reverse mortgages and reclaim these properties.
Reverse mortgages that aren't completely paid out before a person's death become part of the person's estate.
Our top-rated lenders have been in the reverse mortgage business for at least a decade. Be wary of lenders who aren't as experienced. When contacting specific lenders, you should also ask about the experience of your specifically assigned loan officer.
All three companies on our list specialize in reverse mortgage lending. In addition, each was founded in 2004 or later.
Each of these reverse mortgage companies has earned an A+ rating from the Better Business Bureau. It's always a good idea to research and compare BBB ratings when choosing any kind of mortgage lender. Our top three lenders have great BBB ratings.