Reverse Mortgage Companies Featured for 2026
Clear, Educational Insights Into Reverse Mortgage Lenders For Homeowners
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Featured
- America’s #1 Reverse Mortgage Lender*
- A+ Rating From the Better Business Bureau
- Available in 49 States and the District of Columbia
- Free Reverse Mortgage Information Guide
- NMLS# 1025894
*#1 Ranking based on HUD endorsement data and HECM World, December 2025
Your Guide to Reverse Mortgages
Reverse mortgages are becoming a popular financial tool for senior homeowners aged 62 and over. This loan allows them to access the equity they’ve accumulated in their home without requiring monthly mortgage payments.
However, they must still cover property taxes, insurance, and maintenance costs.
The loan repayment is deferred until the homeowner passes away, decides to sell, or moves out. This arrangement, offering the potential to receive equity as tax-free cash, has attracted more than a million seniors.
What Is a Reverse Mortgage?
A reverse mortgage allows eligible homeowners to access a portion of their home equity. Borrowers must generally be at least 62 years old, own and occupy the home as their primary residence, have sufficient equity, and meet basic financial and property requirements.
Any existing traditional mortgage is typically paid off first, with remaining proceeds available through options such as a lump sum, monthly payments, a line of credit, or a combination of these. The loan becomes due when the homeowner sells the home, permanently moves out, or passes away.
How Is the Loan Amount Determined?
The amount available through a reverse mortgage depends on several factors, including:
- The age of the youngest borrower
- The home’s appraised value
- Current interest rates
- The Federal Housing Administration (FHA) mortgage limit (subject to annual adjustment and currently set at $1,249,125. for 2026)
Pros and Cons of a Reverse Mortgage
Pros:
- Borrowers retain ownership and title to their home, provided loan obligations are met
- Loan proceeds are generally not considered taxable income (consult a tax professional for individual guidance)
- No required monthly mortgage payments
- FHA-insured reverse mortgages are non-recourse
- Flexible options for accessing loan proceeds
Cons:
- Reverse mortgages may involve upfront costs and fees
- The loan balance generally increases over time
- Failure to meet property tax, insurance, or maintenance obligations may result in default
The Reverse Mortgage Application Process
- Research lenders and available options
- Discuss eligibility and loan features
- Complete HUD-approved counseling
- Submit a formal application
- Undergo underwriting and appraisal
- Close the loan
- Receive funds based on the selected method
Key Takeaways
Reverse mortgages provide a financial option for eligible homeowners seeking to access home equity without monthly mortgage payments. Homeowners should carefully review loan terms and consult with financial, legal, or tax professionals.
Advisory Note:
This content is for educational purposes only and does not constitute financial, tax, or legal advice.
Featured Reverse Mortgage Lender
- America’s #1 Reverse Mortgage Lender*
- A+ Rating From the Better Business Bureau
- Available in 49 States and the District of Columbia
- Free Reverse Mortgage Information Guide
- NMLS# 1025894
*#1 Ranking based on HUD endorsement data and HECM World, December 2025