Our Featured Reverse Mortgage Loan Companies For 2025
We independently find, review and rate the best Reverse Mortgage lenders in Ohio.
Review Counsel is owned and operated by Mutual of Omaha Mortgage.
Highlighted Reverse Mortgage Companies in
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Review Counsel Rating
Mutual of Omaha Mortgage
- A+ Rating From the Better Business Bureau
- Available in 49 States and the District of Columbia
- Free Reverse Mortgage Guide Provided
- Reverse Mortgage Calculator Available
- NMLS# 1025894
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Review Counsel Rating
Retirement Funding Solutions
- Part of Mutual of Omaha Mortgage
- One of The Top Reverse Mortgage Lenders
- Free Information Kit Provided
- Offers New Mobile App For Seniors To Use
- Licensed in 48 Out of 50 States
- A+ Rating From the Better Business Bureau
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Review Counsel Rating
Finance of America Reverse
- A+ BBB Rating & Financial Planning Association Partner
- Dedicated Team Works One-on-One with Borrowers
- Retains Servicing of Loans; Works with Clients for Life
- Proprietary Jumbo Loans — Lending Up to $4M
- One of the Oldest Reverse Companies
- Additional Homesharing Income Stream Opportunity
Understanding Reverse Mortgages
💡 Did you know?
Over 1.3 million reverse mortgages have been endorsed since the program began — helping seniors across the country access their home equity.¹
A reverse mortgage is a loan option for homeowners age 62 and older, allowing them to access a portion of their home equity as cash — without monthly mortgage payments. You remain responsible for property taxes, homeowners insurance, and basic maintenance.
The loan is repaid only when you sell the home, move out, or pass away. Because the cash is generally tax-free and repayment is deferred, many seniors have turned to reverse mortgages as a flexible retirement solution.
(¹) NRMLA. 2025. Annual HECM Endorsement Chart. [ONLINE] Available at https://www.nrmlaonline.org/annual-hecm-endorsement-chart. [Accessed 8 July 2025].
How Does a Reverse Mortgage Work?
To qualify for a reverse mortgage, you must:
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Be 62 years or older
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Own your home
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Have sufficient home equity
You receive loan payments based on a percentage of your equity, and repayment happens when the home is sold, vacated, or inherited.
Loan eligibility depends on:
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Your age
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The value of your home
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Current interest rates
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Whether your home meets FHA’s reverse mortgage limit of $1,149,825.
What Are The Pros and Cons of a Reverse Mortgage?
There are several considerations to make before deciding to proceed with a reverse mortgage loan. As with any large decision, it's helpful to have an understanding of the pros and cons associated. Some of them include:
Pros
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Stay in your home and keep full ownership
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Receive tax-free cash to use as needed
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No monthly mortgage payments required*
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Over 1.3 million seniors have used this loan to access their home equity
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Flexible payment options: lump sum, monthly payments, or line of credit
Cons
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Upfront and ongoing fees may be higher than traditional loans
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The loan balance and interest grow over time
*Borrower must occupy home as primary residence and remain current on property taxes, homeowner’s insurance, the costs of home maintenance, and any HOA fees.
What is the Process of Getting a Reverse Mortgage?
The process of getting a reverse mortgage loan is pretty straightforward and typically entails the following steps:
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Explore your options – Research lenders or request a quote.
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Speak with a loan expert – Learn how much you may qualify for and have your questions answered.
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Attend Housing and Urban Development (HUD) -approved counseling – A required step to protect borrowers.
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Apply – Submit your reverse mortgage application.
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Loan processing & appraisal – Lender verifies home value and paperwork.
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Close the loan – Choose how you’d like to receive your funds.
How We Rate Reverse Mortgage Lenders
We evaluate lenders like Mutual of Omaha Reverse Mortgage on six key criteria:
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Years in business
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Number of reverse mortgage options offered
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Customer service availability
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Licensing coverage across states
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Better Business Bureau (BBB) rating
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Availability of a mobile app
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