Top Reverse Mortgage Lenders: A Comprehensive Guide for 2025
Reverse mortgages provide seniors with a way to access their home equity without the burden of monthly mortgage payments. These loans are particularly beneficial for retirees who need additional income to cover living expenses, medical bills, or home improvements. The most common type of reverse mortgage is the HECM, which is insured by the Federal Housing Administration (FHA). Proprietary reverse mortgages, offered by private lenders, are another option for homeowners with high-value properties.
When evaluating reverse mortgage lenders, several factors should be considered, including interest rates, fees, loan terms, and customer service. Borrowers should also assess the lender’s reputation, financial stability, and responsiveness to inquiries. Below is a detailed comparison of the top reverse mortgage lenders in 2025, followed by an in-depth analysis of each lender’s strengths and weaknesses.
Comparison of Top Reverse Mortgage Lenders in 2025
| Lender | Loan Types | Interest Rates | Fees | Customer Rating |
|---|---|---|---|---|
| American Advisors Group (AAG) | HECM, Proprietary | 3.5% – 5.5% | $2,500 – $6,000 | 4.7/5 |
| Finance of America Reverse (FAR) | HECM, Jumbo | 3.8% – 5.8% | $3,000 – $7,000 | 4.5/5 |
| Reverse Mortgage Funding (RMF) | HECM | 3.6% – 5.6% | $2,800 – $6,500 | 4.6/5 |
| Longbridge Financial | HECM, Proprietary | 3.7% – 5.7% | $2,700 – $6,200 | 4.8/5 |
| Fairway Independent Mortgage | HECM | 3.9% – 5.9% | $3,200 – $7,500 | 4.4/5 |
Detailed Analysis of Top Lenders
American Advisors Group (AAG)
American Advisors Group is one of the largest reverse mortgage lenders in the US, offering both HECM and proprietary reverse mortgages. AAG is known for its competitive interest rates, ranging from 3.5% to 5.5%, and its transparent fee structure. The company has a strong reputation for customer service, with a 4.7/5 rating based on borrower reviews.
Finance of America Reverse (FAR)
Finance of America Reverse specializes in HECM and jumbo reverse mortgages, catering to homeowners with high-value properties. FAR offers flexible payment options and competitive rates, though its fees tend to be higher than some competitors. The lender has a 4.5/5 customer rating, with borrowers praising its knowledgeable loan officers.
Reverse Mortgage Funding (RMF)
Reverse Mortgage Funding focuses exclusively on HECM loans, providing borrowers with straightforward terms and competitive rates. RMF’s fees are mid-range, and the company has a 4.6/5 customer rating. Borrowers appreciate the lender’s efficiency and clear communication throughout the loan process.
Longbridge Financial
Longbridge Financial offers both HECM and proprietary reverse mortgages, with a focus on personalized service. The lender’s interest rates are competitive, and its fees are relatively low compared to industry averages. Longbridge has the highest customer rating among the lenders listed, at 4.8/5.
Fairway Independent Mortgage
Fairway Independent Mortgage provides HECM loans with a range of payment options. While its interest rates and fees are slightly higher than some competitors, the lender is known for its excellent customer support. Fairway has a 4.4/5 customer rating, with many borrowers highlighting the lender’s responsiveness.
Key Considerations When Choosing a Lender
Selecting the right reverse mortgage lender involves more than just comparing interest rates and fees. Borrowers should also consider the lender’s reputation, customer service, and financial stability. Additionally, it’s important to consult with a financial advisor or housing counselor to ensure a reverse mortgage aligns with your long-term financial goals.
For further information, visit the websites of the lenders mentioned above: AAG , FAR , RMF , Longbridge Financial , and Fairway Independent Mortgage .