Reverse Mortgage Companies

We evaluated 15 well known reverse mortgage lenders and after carful review identified the 6 best reverse mortgage companies in 2020.

Reverse mortgage companies. Use the search tool below to locate lenders in your state specifically the state in which the property is located. Rates accurate as of july 2020. Reverse mortgage lenders generally charge an origination fee and other closing costs as well as servicing fees over the life of the mortgage. The 5 best reverse mortgage lenders for 2020 quontic bank best digital option.

All lenders are members of the national reverse mortgage lenders association licensed to originate reverse mortgages in the states in which they are listed and have signed nrmla s code of conduct professional responsibility. As you get money through your reverse mortgage interest is added onto the balance you owe each month. Read reviews get wise buyer tips cost info more. Federally backed reverse mortgages have a 2 upfront mortgage insurance premium and annual premiums of 0 5.

Mortgage insurance is meant to protect lenders in case of. You owe more over time. In recent years quontic bank formerly a regional bank in the northeast has expanded its digital footprint and does business in all 50 states its reverse mortgage options are limited to hecm meaning you must meet all of the standard requirements for the fha s program.