Introduction
Reverse mortgages are becoming increasingly popular among seniors who own their homes and want to access their home equity without having to sell their property or make monthly mortgage payments. As a result, there are many lenders offering reverse mortgage products. In this article, we will highlight the top three reverse mortgage lenders in the market based on their reputation, customer service, interest rates, and loan terms.
1. American Advisors Group
American Advisors Group (AAG) is one of the largest reverse mortgage lenders in the United States. AAG has been in business since 2004 and has funded over $10 billion in reverse mortgage loans. The company offers both Home Equity Conversion Mortgages (HECMs) and jumbo reverse mortgages. AAG’s interest rates are competitive, and the company is known for its excellent customer service. AAG also has a proprietary reverse mortgage product called AAG Advantage, which allows borrowers to access more funds than they would with a traditional HECM.
2. Finance of America Reverse
Finance of America Reverse (FAR) is another top reverse mortgage lender that offers both HECMs and jumbo reverse mortgages. FAR has been in business since 2003 and has funded over $5 billion in reverse mortgage loans. FAR’s interest rates are competitive, and the company offers a range of loan terms and options. FAR is known for its excellent customer service and for being transparent about the costs and fees associated with its reverse mortgage products.
3. Reverse Mortgage Funding
Reverse Mortgage Funding (RMF) is a top reverse mortgage lender that offers both HECMs and jumbo reverse mortgages. RMF has been in business since 2012 and has funded over $4 billion in reverse mortgage loans. RMF’s interest rates are competitive, and the company offers a range of loan terms and options. RMF is known for its excellent customer service and for being transparent about the costs and fees associated with its reverse mortgage products.
Conclusion
When considering a reverse mortgage, it’s important to choose a reputable lender that offers competitive interest rates, flexible loan terms, and excellent customer service. American Advisors Group, Finance of America Reverse, and Reverse Mortgage Funding are three of the top reverse mortgage lenders in the market that meet these criteria. By working with one of these lenders, seniors can access their home equity and enjoy a more comfortable retirement without having to sell their property or make monthly mortgage payments.