About Longbridge Financial

Brief Summary of Services: 

• Reverse Mortgage 
• HECM for Purchase 
• Jumbo loans 

Longbridge Financial Synopsis 

Review Summary: The three main products offered by Longbridge Financial include reverse mortgages, reverse mortgage for purchase, and jumbo loans, for those with higher value homes and properties. Longbridge is highly rated on Trustpilot, the Better Business Bureau, and Consumers Advocate.  

Recommended for: Longbridge is a great pick for military veterans as it offers a $500 discount for U.S. Military active duty and veteran servicemen and servicewomen.  

Pros and Cons of Longbridge Financial  

Longbridge Financial Customer Reviews 

Longbridge Financial Full Review 

Overview 

Longbridge Financial offers three main types of reverse mortgage loans: Home Equity Conversion Mortgage (HECM), HECM for purchase, and jumbo loans. 

The reverse mortgages offered by Longbridge are insured by the Federal Housing Administration (FHA) up to $970,800, which is the current limit. The jumbo loans, which go by the name Longbridge Platinum Mortgages, are not FHA insured.  

In most states, Longbridge Platinum Mortgages are available to individuals who are 55 years of age or older. Some states require borrowers to be at least 60 or 62 years old.  

The Platinum reverse mortgage is for individuals who own a higher-value home, duplex, or condo that is worth more than the current FHA insured limit.  

Longbridge also offers a Platinum line of credit loan that grows at 1.5% per year for seven years that you can draw on for 10 years. In addition, Longbridge offers refinancing on current reverse mortgages.  

Longbridge gives a $500 discount to U.S. Military Active Duty and Veterans.  

The Longbridge Financial website clearly lays out all the information you need about reverse mortgages and the process. This matches with its goal of making “learning about, applying for, and obtaining a reverse mortgage . . . as simple as possible.” 

Longbridge Financial Loan Options 

Longbridge Financial offers the following loan options:  

• HECM Reverse Mortgage (standard reverse mortgage) 
• HECM for Purchase Reverse Mortgage 
• Longbridge Platinum Mortgage (jumbo loan for 55+) 
• Platinum LOC loan 
• Reverse Mortgage refinancing 

Longbridge Financial Reverse Mortgage Loan Application Process 

This is the four-step process that Longbridge Financial says that borrowers can expect when applying for a reverse mortgage with the reverse mortgage lender:  

• Step 1: Start your application. Longbridge says that the application process starts by calling a Longbridge reverse loan officer. The loan officer will help individuals and couples determine the best mortgage product to pursue.  
• Step 2: Receive independent counseling. The next step is meeting with a third-party government-approved counselor. This step is required for the application process to move forward. You will receive a certificate once this counseling session is completed. 
• Step 3: Get an appraisal. Once the counseling session is over, the next major step will be getting a home appraisal and inspection. The home appraisal will determine how much money you are able to borrow. 
• Step 4: Receive your funds. Longbridge says that once your loan is processed, approved, and signed, you may start receiving your funds. Funds may be received as monthly payments, a lump sum, a line or credit, or a combination of those.  

Longbridge Financial Company Information  

Longbridge Financial is a reverse mortgage loan lender that is based out of Mahwah, New Jersey.  

Longbridge Financial states that it was, “Founded by an Ivy League professor and a team of highly experienced individuals from brand name financial services companies, our mission is to transform the reverse mortgage industry through unmatched client service, expertise, and transparency.”  

Longbridge Financial also has a wholesale division focused on providing services for financial professionals and others. 

It is a member of the National Reverse Mortgage Lenders Association (NRMLA) and is an approved lender of the U.S. Department of Housing and Urban Development (HUD). It also has an A+ Rating with the Better Business Bureau and is among the Top Ranked Reverse Mortgage companies in 2022, according to Consumers Advocate.  

You can contact Longbridge Financial for additional information and to get a free reverse mortgage information kit by clicking on the link within the contact us section or by calling its toll-free number. 

States Serviced by Longbridge Financial 

Longbridge Financial is available to process reverse mortgages in 49 states and the District of Columbia. The only state it is not licensed in is Hawaii.  

Office Locations 

• Mahwah, New Jersey 

How to Contact Longbridge Financial  

Longbridge Financial can be contacted in the following ways:  

• By phone: 855-523-4326 
• Online: https://longbridge-financial.com/  

Read More About This Topic:  

• Top 10 Reverse Mortgage Lenders YTD 
• A Guide to Reverse Mortgages in 2022 
• Reverse Mortgage Loan Process 

All reviews updated as of 11/1/22.