Top Reverse Mortgage Companies in 2026

What is a Reverse Mortgage?

Over 1.4 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 available to homeowners aged 62 and older, allowing them to access a portion of their home equity as cash, without having to pay monthly mortgage payments**. The homeowner remains responsible for property taxes, homeowners’ insurance, and property maintenance.

The loan is repaid when the home is sold; the homeowner moves or passes away. Because the cash is generally tax-free and is deferred, many seniors have turned to reverse mortgages as a flexible retirement solution.

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¹ NRMLA. 2025. Annual HECM Endorsement Chart.

How Do Reverse Mortgages Work?

To qualify for a reverse mortgage, you must:

Be 62 years or older
Own your home
Have sufficient home equity

Loan payments are based on a percentage of the home’s equity, and repayment occurs when the property is sold, vacated, or passed on to heirs. Eligibility depends on:

The borrower’s age
The value of the home
Current interest rates
Whether the home meets FHA’s reverse mortgage limit.

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Pros and Cons of a Reverse Mortgage

There are several considerations to make before deciding to proceed with a reverse mortgage loan. Before making a big decision, it’s important to know the pros and cons. Here are a few:

Pros

Remain in the home and retain full ownership.
Receive tax-free cash* to use as needed.
Eliminate monthly mortgage payments**.
Flexible payment options: lump sum, monthly payments, or line of credit.

Cons

Upfront and ongoing fees may be higher than a traditional loan.
The loan balance and interest grow over time.

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*Please consult a tax advisor.

**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.

How Does the Reverse Mortgage Process Work?

Getting approved for a reverse mortgage is usually easy and involves a few basic steps.

Explore your options – Do your research. Choose a lender that is reputable, has excellent customer service, and provides the information you need.
Speak with a loan specialist – A trusted loan specialist will help you understand how much you may qualify for and answer any questions you may have.
Attend Housing and Urban Development (HUD) – approved counseling – This is a required step to protect borrowers.
Apply – Submit your reverse mortgage application.
Loan processing & appraisal – Lender verifies home value and paperwork.
Close the loan – Choose how you’d like to receive your funds.

Want to get started with a trusted reverse mortgage company? Click here for a free guide.

How We Rate Reverse Mortgage Lenders

We independently identify reverse mortgage companies. Reverse Mortgage companies are evaluated based on six factors that we believe are important for consumers: years in business, number of products offered, customer service availability, state licensing footprint, Better Business Bureau (BBB) Ratings, and the inclusion of a mobile application. Please find a full description of our ratings system here. Disclosure: We do receive advertising compensation from some partners, which influences what companies appear on our site and where they appear. For additional details please click here.

References

(1) NRMLA. 2025. Annual HECM Endorsement Chart. [ONLINE] Available at Annual HECM Production Numbers – NRMLA. [Accessed 11 Nov. 2025].

Best Reverse Mortgage Companies for 2026