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Guild Reverse Mortgage

Review Counsel Rating

4.0 | ★ ★ ★ ★

About Guild Reverse Mortgage

Guild Reverse Mortgage Synopsis

Review Summary: Guild offers reverse mortgages in all 50 states and the District of Columbia. It offers HECM reverse mortgages, reverse mortgage for purchase, reverse mortgage refinancing, and jumbo loans. It also has an A+ Rating from the Better Business Bureau.  

Recommended for: Given that Guild is available in all 50 states means that it may be a good option to consider no matter which state you live in. One thing that stands out about Guild is that it offers jumbo reverse mortgages for up to $10 million, making it a good option for those with higher valued homes. Depending on the state where you live, you may be able to access one of these loans at the age of 55.

reverse mortgage vs HELOC

Pros and Cons of Guild Reverse Mortgage


  • Licensed in 50 States

  • Offers Reverse Mortgage, Reverse Mortgage for Purchase, Jumbo Loans, and Forward Mortgage products

  • In business for more than 60 years

  • A+ Rating from the Better Business Bureau

  • Jumbo loans for up to $10 million


  • No reverse mortgage mobile app

Guild Reverse Mortgage Customer Reviews

Customer Review PlatformRatings
Better Business Bureau (BBB) A+ Rating; 1.36/5 Stars with 27 Reviews 
Credit Review 4.6/5 Stars with 736 Reviews 
WalletHub 4.5/5 Stars with 28 Reviews 
Yelp 3.6/5 Stars with 190 Reviews 

Guild Reverse Mortgage Loan Options  

Guild offers the following reverse mortgage loan products:  

HECM Reverse Mortgage. A Home Equity Conversion Mortgage (HECM) reverse mortgage is a financial product that allows homeowners aged 62 or older to convert part of the equity in their home into cash without having to sell the home or take on additional monthly bills. A HECM reverse mortgage will pay off the current traditional mortgage if there is one. For the remaining equity, borrowers will have the choice of receiving the remaining equity as a lump sum, monthly payments, or a line of credit. HECM reverse mortgages are backed by the federal government. The maximum amount that homeowners can receive from a reverse mortgage as of 2024 is $1,149,825. 

Reverse Mortgage for Purchase. The Home Equity Conversion Mortgage for Purchase (HECM for purchase) loan option provides an innovative financial solution for homeowners seeking to finance a new property through a reverse mortgage. This option is particularly advantageous for retired individuals who wish to upgrade or downsize their homes. By utilizing the equity from their current home, homeowners can purchase a new home without the burden of monthly mortgage payments. 

Jumbo Reverse Mortgage. Jumbo reverse mortgages are for homeowners whose home is worth substantially more than the FHA lending limit of $1,149,825. Guild’s jumbo reverse mortgages allow homeowners to borrow up to $10 million. In some states, Guild offers its jumbo reverse mortgages to homeowners who are as young as 55 years old.  

Reverse Mortgage Refinancing. Just like homeowners can refinance their regular forward mortgage, they can also refinance their reverse mortgage. They may want to do this if their home has increased in value and they have additional equity they want to access. It may also happen if there has been a change in interest rates or they are unhappy with their current lender.  

Guild also offers traditional forward mortgage products. This may be helpful for those who don’t meet the qualifications for a reverse mortgage, but they still want to find a way to access their equity.  

Guild Reverse Mortgage Application Process 

If you are interested in obtaining a reverse mortgage from Guild Mortgage, this is the application process the company says that you can expect: 

Step 1: Contact Loan Officer and Get Proposal. The first step is to talk to a Guild reverse mortgage loan officer who will answer any questions you have as well as provide more information about how a reverse mortgage may work in your individual circumstances. The loan officer can also put together a proposal for you to review. 

Step 2: Complete Initial Application. In this step, you will file a “non-binding application.” For this step, you will need to provide the following information: date of birth, proof that you own the property, proof of income and financial assets, Social Security number, and your homeowner’s insurance policy.  

Step 3: Counseling. The U.S. Department of Housing and Urban Development (HUD) requires that all homeowners who want to pursue a HECM reverse mortgage first complete a counseling session with an independent HUD-approved counselor who is not associated with the lender. This session typically lasts about an hour and ranges in price from $125 to $200.  

Step 4: Appraisal. An appraisal must be performed to determine the condition and current market value of your home. This is important because it will play a role in determining your total loan amount.  

Step 5: Underwriting. Your application, appraisal, and any other information submitted will be sent to underwriting for review. The underwriter is also responsible for approving loans.  

Step 6: Closing. In this step, you will meet with a notary or closing agent and sign the closing loan documents.  

Step 7: Loan Disbursement. In this step, you can start receiving your funds. Before the funds can be disbursed, the lender must adhere to a three-day waiting period known as the “right to rescission.” During this period, reverse mortgage applicants can cancel the loan, but this must be done in writing.  

Guild Reverse Lending Company Information   

Years in Business (5 of 5 Stars) 

Guild Mortgage brings more than 60 years of experience to the mortgage industry. Guild expanded its reverse mortgage division in 2023 when it acquired Cherry Creek Mortgage, which was among the top 10 reverse mortgage lenders in the nation.  

BBB Ratings (5 of 5 Stars) 

Guild Mortgage is accredited by the Better Business Bureau (BBB) and has an A+ Rating. We highly value BBB ratings, attributing this to the rigorous application process and ongoing monitoring of accredited businesses by the BBB. Such accreditation is esteemed within the business community, underscoring the BBB’s reputation for setting a benchmark of credibility that sets it apart from other rating entities. This makes the BBB a trusted resource for consumers seeking confidence in their selection of business partners. 

Customer Service Availability (3 of 5 Stars) 

Guild Mortgage customer service is available Monday through Friday 6:00 AM to 5:00 PM (PST). Top reverse mortgage companies provide 24/7 access, or at least extended hours over the weekend, to accommodate their clients’ schedules, ensuring a seamless and convenient way to reach out at any time. This reliable availability offers peace of mind and significantly improves the overall experience, knowing that assistance from your reverse mortgage provider is always within reach. 

State Licensing (5 of 5 Stars) 

Guild Mortgage is licensed to originate loans in all 50 states and the District of Columbia. To learn more about Guild’s state licensing information, go here.  

Mobile App (1 of 5 Stars) 

Guild does not currently have a mobile app to service its reverse mortgage clientele.  

Reviews last updated: 7/8/24. (Reviews are typically updated monthly.)

Rating last updated: 5/1/24. (Ratings are typically updated once per quarter.)

This information is intended to be general and educational in nature and should not be construed as financial advice. Consult your financial advisor before implementing financial strategies for your retirement. 

Address: San Diego, CA

NMLS# 3274

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