6 Best Reverse Mortgage Companies

Editor’s Take

Fairway Independent Mortgage is one of the country’s top non-bank lenders, offering reverse mortgages alongside conventional, FHA, VA, and jumbo loans. The company can close a reverse mortgage in as little as 17 days, which is faster than other lenders.

The company has loan officers across the U.S., giving borrowers access to in-person support in addition to nationwide reach. Fairway also emphasizes education during the application process, helping customers understand rules, payout options, and long-term costs.

Fairway may not be the biggest reverse mortgage provider, but it offers competitive products, stability, and excellent customer service. This makes it a solid choice for those who value both efficiency and personal guidance.

Pros & Cons

Pros

• Nationwide availability with branch offices in many states
• Wide range of loan products beyond reverse mortgages
• Strong customer service reputation with personalized guidance
• Offers both traditional and proprietary reverse mortgage options

Cons

• Not as specialized in reverse mortgages as some niche lenders
• Loan terms and fees may vary by location and loan officer
• Fewer online tools compared to fully digital lenders
• May require more paperwork and in-person steps than competitors

Lender Details

Fairway Independent Mortgage is licensed in Washington, D.C. and all 50 states, though New York does not allow reverse mortgage applications through its site. You can begin the process by filling out a form online, after which a lender will reach out, and documents can be uploaded through the FairwayNow app.

Customer service is available by phone Monday through Friday during business hours for added support. The company is known for its speed, with some Home Equity Conversion Mortgage (HECM) for Purchase loans closing in as little as 17 days, depending on the state.

This makes Fairway a strong option if you want a faster turnaround compared to other lenders. Loan options are diverse, ranging from standard HECM products to jumbo reverse mortgages up to $4 million.

Borrowers can choose flexible payout structures, including fixed monthly advances, lump sums, lines of credit, or a combination, giving them control over how they access their equity.

Editor’s Take

Mutual of Omaha Mortgage is known for strong customer service, earning high online ratings from borrowers. In 2023, it expanded its reverse mortgage operations through a partnership with ePIC Services Company, aiming to enhance both guidance and the overall customer experience. This makes the lender a solid choice if you value support alongside financial products.

The company specializes in helping older homeowners tap into home equity while maintaining ownership. Its reverse mortgage options are designed to ease life transitions, with clear explanations of loan terms and a focus on client education.

While Mutual of Omaha may not always offer the lowest-cost products, it stands out for its reputation, reliability, and emphasis on service. If you want a lender that combines financial strength with personalized support, this provider is worth considering.

Pros & Cons

Pros

• Backed by a well-established financial brand
• Offers multiple reverse mortgage options, including HECM and proprietary loans
• Provides educational resources to help you understand terms
• Available in most states across the U.S.
• Flexible payout options such as lump sum, monthly payments, or line of credit

Cons

• Closing costs and fees may be higher than some competitors
• Not always the lowest interest rates available
• Proprietary loan availability may vary by state
• Must meet FHA property standards for HECM loans
• Limited branch locations; much of the process is online or by phone

Lender Details

Mutual of Omaha Mortgage operates in most states but isn’t licensed in New York or West Virginia, so availability depends on your location. You can apply by phone, online, or through the company’s mobile app, with the process starting after HUD-required counseling. Customer service is available 24/7, which can help guide you through each step.

The application-to-closing timeline typically takes up to 45 days, depending on how quickly documents and counseling are completed. This is about average compared to other reverse mortgage lenders.

Loan options include FHA-backed Home Equity Conversion Mortgages (HECMs), HECM for Purchase, and proprietary products like HomeSafe, which allow qualifying borrowers to access up to $4 million. Borrowers can select flexible disbursement options like a line of credit, lump sum, monthly payments, or a mix of these.

Editor’s Take

Guild Mortgage combines digital accessibility with local support, offering borrowers the choice of managing their reverse mortgage online or through one of its 260+ branches. This flexibility makes it appealing if you value both personal service and modern digital tools.

The company operates in 49 states and Washington, D.C., supported by partnerships with credit unions, community banks, and other financial institutions. In 2023, Guild expanded its reverse mortgage team by acquiring Cherry Creek Mortgage, strengthening its nationwide reach.

While reverse mortgages are just one part of its broader loan portfolio, Guild’s long history in mortgage lending provides stability and reliability. This can be an advantage if you want a lender capable of handling multiple mortgage needs beyond reverse loans.

Pros & Cons

Pros:

• Wide national presence with over 260 branches
• Full online application and closing available
• Experienced lender with decades in the mortgage industry
• Offers multiple loan products beyond reverse mortgages

Cons:

• Not a reverse-mortgage-only provider, so focus may be broader
• Loan terms and fees can vary by location and product
• Limited proprietary or jumbo reverse mortgage options compared to some competitors
• Availability of certain products may depend on your state

Lender Details

Guild Mortgage operates across most of the United States. You can apply in person at a branch, by phone, or through its online platform. The online process allows you to upload documents, track progress, and communicate with your loan officer digitally.

Application speed can differ. If you submit documents quickly, you may move through the process faster. Reverse mortgage applications often take several weeks due to required counseling and federal guidelines.

Guild offers federally insured Home Equity Conversion Mortgages (HECMs). Proprietary or jumbo reverse mortgages are limited, so if you need a higher loan amount, you may need to compare with other lenders. Some locations may also provide HECM for Purchase loans.

Editor’s Take

Finance of America Reverse (FAR) offers a diverse lineup of reverse mortgage products designed for older homeowners who want to tap into their equity. Alongside FHA-backed Home Equity Conversion Mortgages (HECMs), FAR provides proprietary options like the HomeSafe® Standard and HomeSafe® Second, which allow higher borrowing limits than traditional loans.

The company also offers a unique retirement product called EquityAvail, combining aspects of a reverse mortgage with a forward mortgage. Borrowers may find FAR attractive if they need flexibility in payout structures or own high-value homes that exceed FHA lending caps.

Its customer-focused approach emphasizes education, with tools and resources to help estimate available equity before committing. FAR’s proprietary products offer more borrowing choices, but their fees might be higher than those of smaller lenders. FAR is a great option for homeowners needing larger loans or customized solutions in reverse mortgages.

Pros & Cons

Pros

• Offers both FHA-insured HECM and proprietary jumbo loans
• Provides higher loan limits through HomeSafe® products
• Multiple payout options including lump sum, monthly, or line of credit
• Strong reputation for customer education and support
• Available across most states

Cons

• Fees and closing costs may be higher than some competitors
• Proprietary products may not be available in all areas
• Application process can take time due to federal requirements
• Not ideal if you only need a small loan amount
• Limited physical branch locations for in-person service

Lender Details

Finance of America Reverse (FAR) is licensed in all 50 states, though New York does not accept applications through its platform. You can start the process by completing a short online questionnaire, after which a representative will contact you.

The application-to-closing timeline generally takes 30 to 45 days, though some borrowers have reported closings in about 30 days. As with other reverse mortgages, applicants must complete HUD-approved counseling before proceeding, which helps ensure they fully understand the loan terms.

Customer support is available throughout the week, including limited hours on Saturdays, making it accessible for borrowers with different schedules.

FAR offers a wide variety of reverse mortgage options, including standard HECMs, HomeSafe® jumbo loans for high-value homes, and HomeSafe® Second as an alternative HELOC option for eligible borrowers 55 and older. It also provides EquityAvail, designed for retirees who want to refinance but don’t qualify for traditional reverse mortgages.

Editor’s Take

Longbridge Financial stands out with its Platinum Mortgage, which allows borrowers as young as 55 to qualify, lower than the standard HECM age of 62. This product offers better cash access than traditional options, making it a great choice for homeowners needing quicker access to their equity.

The company is known for its emphasis on borrower education and transparency, providing resources to ensure clients understand loan terms and long-term costs before committing. Customer service is a key focus, with personalized support offered throughout the application process.

As one of the top three largest securitizers of newly issued HECMs in the country, Longbridge combines scale with specialization. Borrowers can choose between federally insured loans and proprietary options, giving them flexibility based on their financial goals and home value.

Pros & Cons

Pros:

• Offers both FHA-insured HECM loans and proprietary jumbo options
• Strong focus on borrower education and clear communication
• Flexible payout choices, including lump sum, monthly payments, or line of credit
• Competitive rates compared to many reverse mortgage lenders

Cons:

• Not available in every state
• May have stricter eligibility requirements depending on loan type
• Limited product line outside of reverse mortgages

Lender Details

Longbridge Financial is licensed in all 50 states, though New York does not allow reverse mortgage applications through its platform. You can apply online, by phone, or with the help of a loan officer, and customer service is available during extended weekday hours.

The process begins with requesting an info kit or using Longbridge’s online calculator, followed by a HUD-approved counseling session and document submission. The lender typically closes loans within 45 days of receiving your paperwork and counseling certificate. This timeline is fairly standard for reverse mortgages, giving you time to complete the required steps without lengthy delays.

Loan options include federally insured Home Equity Conversion Mortgages (HECMs) and the company’s proprietary Platinum Mortgage, which allows borrowers 55 and older to access up to $4 million. You can receive proceeds as a lump sum, fixed monthly payments, a line of credit, or a combination of these, providing flexibility in using your home equity.

Editor’s Take

All Reverse Mortgage, Inc. (ARLO) specializes exclusively in reverse mortgages, making it a strong option if you want focused expertise instead of a broad range of unrelated loan products.

You can receive instant quotes, real-time interest rates, and personalized guidance on which reverse mortgage program best fits your needs. This specialization helps reduce confusion and ensures more tailored support throughout the process.

The company also emphasizes education, offering a robust blog, reverse mortgage calculators, and clear explanations of loan terms. Its Ask ARLO platform provides real-time answers from reverse mortgage specialists, which can be especially helpful when making decisions.

While ARLO may not have the scale of a large national bank, its focus on reverse mortgages ensures a streamlined experience. Seniors in particular may find its dedicated service and digital tools valuable when navigating an important financial decision.

Pros & Cons

Pros:

• Specializes only in reverse mortgages
• Offers online calculators and learning tools
• Provides personalized customer service for seniors
• Transparent about fees and loan terms
• Competitive rates compared to many lenders

Cons:

• Limited to reverse mortgage products only
• Not available in every state
• No in-person branch network
• Processing times may vary depending on loan type
• Proprietary or jumbo options may have stricter requirements

Lender Details

All Reverse Mortgage, Inc. (ARLO) operates in Washington, D.C. and 15 states, including California, Florida, Texas, and Pennsylvania, so availability depends on where you live. Customer service is available during the week for questions and guidance.

You can start the process online by requesting a rate quote and completing an application that includes financial and property details, along with proof of HUD-approved counseling.

The loan timeline typically takes 30 to 45 days, though ARLO notes that closings can sometimes be completed in as little as 30 days if counseling and documentation are submitted promptly. This flexibility makes it easier for borrowers who want to move quickly.

ARLO offers a full range of reverse mortgage products, including HECM loans, refinancing options, jumbo reverse mortgages, and proprietary programs. Borrowers can receive funds in various ways: as a line of credit, lump sum, monthly payments, or a combination, offering flexibility for different financial needs.