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Reverse Mortgage Lenders List, HECM Lenders List #reverse #mortgage #lenders #list, #reverse #mortgage #lenders, #reverse #mortgage #company #list, #hecm #lenders, #hecm #loans


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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

  • AAG Reverse Mortgage – Based out of Orange, California, they are one of the top 10 reverse mortgage lenders in the country.
  • 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.


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Reverse the Future

What is a Reverse Mortgage?

A Reverse Mortgage is a type of home loan that lets you convert a portion of the equity in your home without having to sell the home, give up title or take on a new monthly mortgage payment. It is also known as a HECM. The money you receive can be used for any purpose you choose. The program has been around for 27 years and is insured by the Federal Housing Administration.

Based on the final totals in the 2015 calendar year, 945,287 Senior Citizens have benefited from the FHA insured Reverse Mortgage since the program began in 1989. Although the program has been in existence for twenty seven ears, almost one third of the loans been done in just the past five years. That total is 293,058 Reverse Mortgages. These numbers show how popular the program has become for many senior citizens in the recent past.

To learn more about how Reverse Mortgages work, please click here .

Reverse Mortgages Resources

The Seniors Home Reverse Mortgage Blog

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There is a downside to this wonderful news.

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