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Liberty Reverse Mortgage is a reverse mortgage lender that offers both reverse mortgages and HECM for purchase options in addition to reverse mortgage refinancing. It also offers conventional mortgages through its parent company, PHH Mortgage.
Liberty is widely available in all 50 states and the District of Columbia. However, it does not offer jumbo loans for those who have a home worth more than the FHA lending limit. If you have a home that is worth more than the FHA lending limit, you will want to consult with other lenders such as Finance of America or Mutual of Omaha Mortgage.
The most common type of reverse mortgage is the Home Equity Conversion Mortgage (HECM), which are also sometimes referred to as HECM reverse mortgages or HECM loans. It is a financial tool available to seniors who are at least 62 years of age. It allows them to cash-in on the equity in their homes without having to sell their home. A reverse mortgage pays off the current traditional mortgage, if there is one. This is how a reverse mortgage eliminates monthly mortgage payments. Reverse mortgage customers then have the option of receiving the loan proceeds as monthly payments, a lump sum, and/or a line of credit. Reverse Mortgage can also be used to purchase a new home. This is known as a HECM for Purchase. Those who obtain a reverse mortgage are still required to stay current on property taxes, homeowner’s insurance, and any necessary maintenance costs. Read more about Reverse Mortgages here.
A+ Rating from the BBB
Available in 50 States and the District of Columbia
In business 19 years
No Mobile App
No Jumbo Loans
|Customer Review Platform||Rating|
|Better Business Bureau (BBB)||A+ Rating; 1/5 Stars with 1 Reviews|
|Consumer Affairs||4.4/5 Stars with 2,019 Reviews|
|SuperMoney||5/5 Stars with 1 Review|
|Yelp||2.5/Stars with 4 Reviews|
Liberty Reverse Mortgage is a national reverse mortgage lender that has 19 years of experience in the mortgage industry. Liberty is the reverse mortgage arm of PHH Mortgage. It is headquartered in Rancho Cordova, California, which is located just outside of Sacramento. It offers reverse mortgages in 50 states and the District of Columbia.
Liberty offers the following reverse mortgage products:
Liberty does not offer jumbo loans at this time. Jumbo loans are proprietary reverse mortgages that allow customers to borrow more than the FHA lending limit.
Besides the reverse mortgage products, Liberty Reverse also offers traditional mortgage products adjustable-rate mortgages, FHA mortgages, fixed rate mortgages, and mortgage refinance loans through its parent company, PHH Mortgage.
If you decide to apply for a reverse mortgage with Liberty, this is the general reverse mortgage process that Liberty says you can expect:
Liberty says to expect the application process to take approximately 30 to 45 days to complete.
Liberty has been in business since 2004, which means it has 19 years of experience in the mortgage industry. We give reverse mortgage lenders that have been in business for at least 20 years top scores because we think it’s important for customers to feel confident that their lender will continue to be around when they need them. This not only ensures that they have the experience and expertise necessary to guide you through the process, but also demonstrates their ability to weather any market fluctuations.
Liberty has an A+ Rating from the Better Business Bureau (BBB), which is the highest rating a business can receive from the consumer education company.
We take into account the Better Business Bureau (BBB) accreditation ratings when evaluating businesses. We do this because the BBB has a rigorous application process and continuously monitors accredited companies. This means that their accreditation holds significant value and is highly respected in the business world. The BBB is known for setting a credibility benchmark that is unmatched by any other rating service, making it a trusted resource for buyers who want to feel confident about the companies they work with.
Liberty Reverse Mortgage customer service is available Monday through Friday from 9:00 AM to 5 PM PST. The top reverse mortgage companies have 24/7 availability to serve their customers, or they have extended hours on weekends, making it easier for customers to get in touch when it’s most convenient for you. Knowing that you can rely on your reverse mortgage company for support whenever you need it can provide peace of mind and make the process smoother overall.
Liberty Reverse Mortgage is licensed to originate reverse mortgage loans in all 50 states and the District of Columbia. Learn more about Liberty’s state licensing information by going here.
PHH Mortgage, the parent company of Liberty mortgage, has a mobile app to serve its forward mortgage customers, but it does not have an app to serve its reverse mortgage customers.
If you’ve received a reverse mortgage from Liberty Mortgage, we would love to hear about it! Please leave a review below.
Last Updated: 9/1/23
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 and functionality of a mobile application. Please find a full description of our ratings system here.
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