Best Companies for Reverse Mortgages
Choosing the Right Reverse Mortgage Lender
Not all reverse mortgage providers are created equal. The right lender should not only offer strong financial products but also understand the unique needs of older adults and veterans. From customer support to flexible loan structures, several lenders stand out in both the United States and Canada.
Top U.S. Providers
AAG (American Advisors Group)
Offers a wide range of payout options including lump-sum, monthly payments, and lines of credit
Comprehensive educational resources and tools for first-time applicants
Finance of America Reverse
Good fit for borrowers with higher-value homes
Strong reputation for customer service and personalization
Liberty Reverse Mortgage
Simple and user-friendly application process
Transparent fee structures with no hidden costs
Top Canadian Providers
HomeEquity Bank (CHIP)
Leading provider of reverse mortgages in Canada
Available coast-to-coast with tailored options for homeowners aged 55+
Equitable Bank
Competitive interest rates and growing national presence
Offers home equity solutions in major provinces
What to Compare
Upfront loan fees and closing costs
Interest types (fixed vs. variable)
Loan-to-value ratios (how much equity you can borrow)
Flexibility in repayment and early prepayment
Customer satisfaction and transparency
Tip
Always choose a company that provides mandatory counseling, particularly one that understands veterans’ needs. Transparency, flexibility, and a strong customer support system go a long way in ensuring peace of mind.
Disclaimer
This content is intended for informational purposes only and does not constitute legal, medical, or financial advice. Always consult with a licensed professional regarding your specific situation.
