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Are you considering a reverse mortgage? Explore our comprehensive guide to find the best reverse mortgage lenders of 2024. Discover what a reverse mortgage is, how it works, potential usage and more!
Are you a homeowner in or nearing retirement and facing concerns about maintaining your current lifestyle or managing unexpected expenses in your golden years? Fortunately, there are viable solutions to assist in effectively navigating these challenges.
One solution worth exploring is a reverse mortgage. This financial tool provides homeowners with the opportunity access the equity they have built up in their homes, all while avoiding the strain of having to make monthly mortgage payments.
In this extensive overview of the leading reverse mortgage lenders of 2024, we will discuss the key traits to consider when selecting a trustworthy reverse mortgage lender. We will also flesh out what reverse mortgages are, including how they work and their potential applications, so you can determine if they align with your financial goals.
We will also clear up several myths surrounding this unique financial product.
We have curated a list of the top reverse mortgage lenders by carefully evaluating various factors. These include their longevity in the industry, the range of products they offer, their availability across different states, how available their customer service is to their customers, as well as their ratings from the Better Business Bureau (BBB).
If we had to choose a single lender to recommend, our top pick for the Best Overall reverse mortgage provider is Mutual of Omaha Mortgage.
Mutual of Omaha Mortgage is our Best Overall Pick. Mutual of Omaha Mortgage is part of a trusted brand, it offers 24/7 availability to its customers, and has excellent customer service ratings.

Mutual of Omaha Mortgage’s high ranking can be attributed to its affiliation with a reputable company that boasts a century-long history. Mutual of Omaha is a Fortune 300 company with its headquarters in Omaha, Nebraska, and is widely recognized for its diverse array of financial products.
Mutual of Omaha Mortgage says that it is committed to safeguarding its customers’ interests and assisting them in achieving their financial aspirations and a prosperous future.
Mutual of Omaha provides an extensive range of products, including life insurance, Medicare supplement insurance, disability insurance, traditional home mortgages, and reverse mortgages. Its wide breadth of products allows the company to meet the diverse needs of its clients.
With a team of experienced loan officers operating nationwide, Mutual of Omaha Mortgage maintains a strong reputation within the industry.
We appreciate that Mutual of Omaha Mortgage provides a diverse range of loan options. This gives customers greater confidence that they will find the right solution that will meet their needs. The reverse mortgage products offered by Mutual of Omaha mortgage include the following:
When working with Mutual of Omaha Mortgage to secure a reverse mortgage, you can expect the assistance of a committed loan officer who will guide you through every step of the process.
Below, you will find a summary of the reverse mortgage application process:
During this initial phase, a reverse mortgage specialist will assess details pertaining to your property and personal financial circumstances to determine your eligibility for a reverse mortgage. The loan officer will provide you with an estimate of how much you may be able to receive and address any of your questions or concerns.
Before proceeding with a reverse mortgage application, it is mandatory for all potential applicants to complete a counseling session with a HUD approved counselor. Upon the completion of the counseling session, a certificate will be provided to you, which will need to be given to your reverse mortgage loan advisor before moving forward.
After completing the counseling session, you may submit your application. Your loan advisor will assist you with submitting your application and help you assemble the required documentation.
Once your application is submitted, Mutual of Omaha Mortgage will request a professional home appraisal. In most cases, the appraisal will take about two weeks. During this time, the lender will also obtain other documentation such as a credit report, a title report, and other necessary documents.
Upon submission of the application and associated documentation, a thorough review and processing will be conducted by underwriting. The underwriter will issue one of the following results: approval, approval with conditions, or denial. In the event that approval is granted with conditions, further documentation may be required, or home repairs may need to be completed for the loan to be finalized. Your reverse mortgage loan officer will reach out to you to address any outstanding requirements or repairs.
Once the loan has been approved, Mutual will schedule the closing. You have the option to choose where you would like to sign the closing documents. It can happen at your home with the help of a mobile notary or at the office of the title company.
After signing the closing documents, please be aware that a mandatory three-business-day waiting period before any funds can be received. The way you receive your funds depends on the method you selected during your application process.
Conclusion
Mutual of Omaha Reverse Mortgage is a subsidiary of a trusted brand with a long history. It offers a wide range of products to suit different needs, even if homeowners don’t meet the qualifications for a reverse mortgage. It has earned high customers ratings on external review platforms, and it has an A+ Rating from the BBB. In addition, it’s the only reverse mortgage lender we reviewed with 24/7 customer service and a mobile app.

Premier Reverse Mortgage has a reputation for delivering personalized service, although its services are limited to a select number of states. It offers the following reverse mortgage loan options:
Furthermore, Premier has an informative website featuring comprehensive guides like the Reverse Mortgage Guide, Reverse Mortgage Purchase Guide, and a Reverse Mortgage Guide for Adult Children. These resources are designed to educate homeowners and their families.
It only offers reverse mortgages in 14 states and the District of Columbia, but one of those states is New York.
Premier has an A+ Rating from the Better Business Bureau.
Premier is based in Atlanta, Georgia and was founded in 2012 by industry veteran Matt Neumeyer, who possesses extensive experience in reverse mortgages. Premier says that it is focused on serving its customers with integrity and personal service.
GoodLife Home Loans is a relatively new reverse mortgage lender, only opening its doors in 2018. It currently offers the following reverse mortgage loan options:
In its short life, it has received an A+ Rating from the Better Business Bureau and has top customer service ratings on third-party review websites, such as Trustpilot.
It only offers reverse mortgages in 38 states, but one of those states is West Virginia.
GoodLife Home Loans is affiliated with Traditional Mortgage Acceptance Corporation.
Traditional Mortgage opened in 2012. It purchases reverse mortgages as a secondary market purchaser, and it’s a Ginnie Mae issuer of mortgage-backed securities (MBS). Once it purchases closed reverse mortgage loans from other lenders, it pools them together, and issues them as a Ginnie Mae Security. It is also a wholesale underwriter for reverse mortgages.
GoodLife Home Loans opened as a reverse mortgage lender in 2018. The company says that it is committed to making reverse mortgages more accessible.
GoodLife has corporate offices in Bellevue, Washington and Mission Viejo, California.

Reverse mortgages have gained significant popularity among homeowners approaching or already in retirement. Revere mortgages offer older homeowners an added financial resource to address a range of expenses, including medical bills, home renovations, and unforeseen costs.
As individuals often find a significant portion of their net worth tied up in their homes, it is not uncommon for them to explore options to access this wealth. The U.S. Department of Housing and Urban Development (HUD) estimates that home equity accounts for about two-thirds of an average retiree’s total wealth.
To address this, many seniors are turning to reverse mortgages. Unlike Home Equity Loans or Home Equity Lines of Credit (HELOCs), reverse mortgages offer a unique solution as a tool that allows homeowners to access the capital in their homes but without requiring monthly mortgage payments to pay it back.
This comprehensive guide will cover what you need to know about reverse mortgages so that you can make an informed decision.
Reverse mortgages are a financial tool that gives older homeowners the opportunity to access their home’s equity and continue to reside in their home, without the obligation of monthly mortgage payments. They offer a path for accessing additional funds while still maintaining ownership of your home.
The HECM (home equity conversion mortgage), commonly referred to as a reverse mortgage, continues to be the top choice for homeowners seeking a reverse mortgage loan. Reverse mortgages are overseen by the U.S. Department of Housing and Urban Development (HUD) and insured the Federal Housing Administration (FHA).
A reverse mortgage is a loan taken out against the equity in the home, like a home equity loan or a home equity line of credit (HELOC). Unlike a traditional mortgage, it permits homeowners to borrow against their property’s accumulated value.
A reverse mortgage provides unique advantages to eligible homeowners as it eliminates the need for monthly mortgage payments for repayment, setting it apart from other available options.
This is one way that a reverse mortgage can help free up cash, since the mortgage is typically most Americans’ largest expense.
Homeowners with a reverse] mortgage are still obligated to paying the property taxes, homeowner’s insurance, home maintenance expenses, and other fees, where applicable.
A reverse mortgage is repaid under several conditions: when the property is sold, when it is no longer the primary residence, if homeowners do not fulfill loan obligations, or upon the homeowner’s passing.
When securing a reverse mortgage loan, it initially pays off your existing traditional mortgage.
To access the remaining equity, there are several options available for receiving your funds, including a lump sum payout, fixed monthly installments, a credit line, or a mixture of these options.
The choice you make will be determined by your specific financial situation.
Those who are a good fit for the lump sum payment method include those planning major projects like home renovations or debt repayment. Those who may be a good fit for choosing monthly payments are those who are seeking to help cover their monthly expenses. Lastly, the line of credit provides flexibility and additional funds for unexpected expenses or personal use.
Reverse mortgage borrowers enjoy significant flexibility as there are no restrictions on how they can use the funds.
When selecting monthly payments as the preferred method to receive funds, individuals have the choice between term monthly payments, which are paid out for a set number of months, or tenure monthly payments that are paid out if the borrower resides in the home and satisfies the reverse mortgage obligations.
There are three key factors that play a role in determining your reverse mortgage loan amount: your age, the interest rates, and your home’s value.
It’s also important to consider other factors, such as the lending limit set by the FHA, and the method of fund disbursement you choose.
The FHA sets a limit on the total loan amount homeowners can receive from HECM reverse mortgages. In 2023, the FHA lending limit surpassed $1 million.
When opting for a lump sum payment, keep in mind that there is a rule that limits the amount you can receive called the principal limit rule.
Under the principal limit rule, you can only access 60 percent of the approved loan amount within the initial year of the reverse mortgage loan.
To address this, borrowers can combine a lump sum with monthly installments or credit line.
It’s worth noting that choosing a lump sum comes with the advantage of a fixed interest rate.
Both the monthly installments and credit line methods have adjustable interest rates. However, interest is only charged on the funds they actually receive.
One benefit of going with the line of credit payment option is that the remaining balance has the potential to grow over time. It’s important to note that the principal limit rule also applies to the line of credit option.
Use a reverse mortgage calculator to obtain a more precise estimate of your potential loan amount.
We like this one from Mutual of Omaha Mortgage because it doesn’t require you to submit personal information to use it.
When considering a reverse mortgage, it’s important to note that there are distinct requirements that set it apart from other mortgage and home equity loan options. If you’re considering applying for a reverse mortgage, here are the qualifications you need to meet:
Homeowners with a reverse mortgage are obligated to occupy the property as their primary residence. They must also stay current on property taxes, homeowner’s insurance, and maintain the home.
Reverse mortgages come in four distinct types, each serving its own specific purpose, including the following:
A home equity conversion mortgage (HECM) is the most used type of reverse mortgage. Homeowners aged 62 or older, who live in their primary residence and have equity in their home, are eligible for a reverse mortgage. These mortgages are backed by the federal government through HUD and the FHA. They are also subject to the FHA borrowing limit.
A Home Equity Conversion Mortgage for Purchase (HECM for Purchase) enables homeowners to finance part of their new home using a reverse mortgage. This approach combines the reverse mortgage with a substantial down payment that is typically taken from the sale of their previous home. This allows older homeowners a way to downsize or upgrade their homes in retirement without the need for monthly payments.
Jumbo reverse mortgage loans are specifically designed for eligible homeowners who wish to access funds exceeding the lending limit set by the FHA. These loans are created by individual lenders and can go up to $4 million. While they may have higher interest rates than traditional options, borrowers are not required to pay for mortgage insurance premiums.
Single-purpose reverse mortgages are a less common type of reverse mortgage that is specifically designed for homeowners who are at least 62 years old. Lenders typically authorize these programs for specific purposes, often limited to home renovations. They are primarily attained through non-profit groups and state and local governments.
Reverse mortgages are accompanied by a range of costs and fees you will want to take into account.
Here is a breakdown of the fees that you may pay when acquiring a reverse mortgage. Keep in mind that some of these fees can be included in the loan itself:
These are the ongoing expenses you can anticipate paying after you close on your loan:
Reverse mortgages are no longer considered a last-ditch option for retired homeowners in need of extra cash. In recent years, the perception of reverse mortgages has evolved significantly.
Reverse mortgages have gained recognition as a viable solution to address various needs and situations. These may encompass, but are not limited to, the following scenarios:
Reverse mortgages garnered negative attention in the past, leaving homeowners concerned about the safety of this product. However, the federal government has taken measures to address these risks by implementing new laws and stronger safeguards.
As a result, homeowners can have greater confidence in pursuing this type of loan. Here are some of the protections that have been instituted:
A reverse mortgage is a valid financial product that offers several potential benefits. However, it is important to be cautious of individuals who may attempt to exploit potential reverse mortgage borrowers through fraudulent schemes.
Here are some reverse mortgage scams to be aware of:
A common misconception surrounding reverse mortgages is that homeowners transfer ownership of their homes to lenders, who then compensate them for it.
A reverse mortgage is simply a loan acquired against the equity in the home, which is repaid when the home is sold, the last remaining borrower passes away, or the home is no longer the primary residence.
Like a conventional mortgage, the borrower retains the title and ownership of the home, with the obligation to repay the loan when the time comes.
When a homeowner with a reverse mortgage passes away, the surviving spouse may continue living in the home if they are a co-borrower on the loan. If the surviving spouse is not listed as a borrower, there are still options available for them to remain in the property, subject to specific conditions.
In the event of the last borrower’s death, the lender will send a notice that the loan is due and payable. Heirs then have the option to sell the home, keep the home by paying the loan balance, sign the title over to the lender, or do nothing and let the bank takeover.
You can still leave your home to your children or heirs. Your heirs can choose to keep the home by paying off the reverse mortgage or selling it.
The loan is a “non-recourse” loan, meaning your heirs will never owe more than the loan value or 95% of the appraised value.
In addition, no other assets are tied up in a reverse mortgage, so any other investments, assets, and savings are not at risk.
It is recommended to involve your family in the process so they can know what to expect and plan accordingly.
There is no specific credit score requirement needed to obtain a reverse mortgage. That being said, lenderstake credit scores and credit history into account as part of their financial assessment.
This assessment helps them evaluate whether applicants can meet the financial obligations of the loan as reverse mortgage borrowers must be able to continue to pay the property taxes, home insurance, and home maintenance costs.
It’s worth noting that even applicants with bad credit may still be approved if they can demonstrate their ability to meet the necessary obligations.
Securing a reverse mortgage loan is a comprehensive and meticulous process. It typically takes approximately 45 days from initiation until the disbursement of funds begins.

This evaluation of the best reverse mortgage companies incorporates the following criteria in evaluating each company: business longevity, reverse mortgage product offerings, customer ratings on third-party review websites, ratings from the Better Business Bureau (BBB), state licensing footprint, and the availability of a mobile app.
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Behind every beautiful space is a thoughtful process, and ASID San Diego is helping homeowners understand the value of professional design.
A perfectly designed home rarely happens by accident. Those kitchens that feel effortless and rooms that seem to tell a story the second you walk in? They’re usually the work of someone who knows exactly what they’re doing.
It’s knowing which ideas will actually work, which materials will hold up over time, and how to turn a collection of choices into a space that feels intentional. That’s where a professional interior designer comes in.
For the American Society of Interior Designers (ASID) California San Diego Chapter, the goal is to help people see interior design as more than just the finished look. Behind every well-designed space is a process built on technical expertise. Designers are educated in everything from professional software and construction details to building codes, space planning, materials, and functionality.

“People don’t always realize how much goes on behind the scenes,” Kirsten Recce , current president of the ASID California San Diego Chapter, says. “Our designers are not just doing furniture placement and color selection and picking out new fluffy pillows. That’s not what they’re trained for.”
ASID members bring formal education, continued learning, and industry knowledge to their projects, helping create spaces that are not only beautiful, but designed to work. A paint color that changes completely depending on the lighting. A material that looks beautiful in a showroom but doesn’t make sense for everyday life. A layout that photographs well but doesn’t function for the people living there. These are the details where professional guidance can make all the difference.
Still, one of the biggest misconceptions about hiring an interior designer is that it’s reserved for massive renovations, luxury homes, or people who already know exactly what they want. The process can feel intimidating. Where do you begin? Is a designer worth the investment? What if you only need help with one room?
ASID’s answer: start with one hour.
ASID’s Spruce Up events break down one of the biggest barriers between homeowners and professional design: knowing where to begin. Held twice a year, the community program gives homeowners the chance to work directly with an ASID designer through a one-hour, $125 consultation in their own home. Whether you’re looking for advice on furniture placement, window treatments, kitchen and bath updates, remodeling ideas, vacation rentals, color selections or something else entirely, the upcoming September 2026 event offers an approachable way to get expert guidance before committing to a full project. Signups are open through Sept. 7, with consultations taking place Sept. 21 through Oct. 31. Proceeds benefit ASID San Diego’s educational and community programs. Register here!

“It’s a great opportunity for people who are in that exploratory phase,” Recce says. “Maybe they’re not sure they want to hire an interior designer yet, or they think it sounds daunting or expensive. This gives them a chance to discover what working with a designer is actually like.”
Design is personal. A good designer isn’t just creating a beautiful room; they’re helping create a space that fits the way someone lives.
“We’re a resource to all of San Diego County,” Recce says. “It doesn’t cost anything to pick up the phone and call and ask. We’ll answer.”
Follow ASID San Diego on Instagram, LinkedIn, and Facebook for updates on upcoming events, or connect with the chapter directly at [email protected] or 619-548-8847.
Laika Nur, MD, takes her love of volleyball from the court to the clinic as team physician for the San Diego Mojo
Growing up, Laika Nur, MD, Scripps Clinic sports medicine specialist, loved watching beach volleyball when the Association of Volleyball Professionals tour came to her hometown of Chicago. A talented volleyball player herself, she remembers sitting in the stands all day, and once, even got a couple autographs. Years later, Dr. Nur was attending a professional event focused on women’s sports, and the discussion turned to a new professional women’s volleyball league. The general manager and coaching staff for San Diego’s team, the Mojo, happened to be in attendance, and Dr. Nur took the opportunity to ask them if they needed a team doctor. Flash forward to the Mojo’s inaugural 2024 season, when Dr. Nur officially became the team physician. Click here to read more about Dr. Nur and how she incorporates lessons she learned on the court into her practice.
For more nutrition, wellness, and healthy living tips, sign up for the San Diego Health newsletter here.
How local orthopedic specialists are pioneering the future of foot and ankle care
Your feet and ankles probably aren’t something you give much thought to—until something goes wrong. Orthopedic surgeons at Scripps Clinic are on the leading edge of foot and ankle reconstruction, treating patients with sports injuries, deformities, traumatic injuries and other conditions. That includes repairing torn Achilles tendons with a minimally invasive procedure that shrinks the incision site to less than a centimeter, and performing advanced ankle replacement on some patients with ankle arthritis. Read more about Scripps’ innovations in foot and ankle care here.
For more nutrition, wellness, and healthy living tips, sign up for the San Diego Health newsletter here.
A new program guides new moms through high-risk pregnancy and into the “fourth trimester”
Mai Vue was just 34 weeks pregnant when she delivered her baby. Her pregnancy had been complicated, and she’d had a recent second trimester pregnancy loss, which led to her receiving specialized care from Sean Daneshmand, MD, a Scripps Clinic perinatologist who oversees high-risk pregnancies. Dr. Daneshmand and his team took care of Mai during her pregnancy, through the birth of her healthy baby girl and beyond. Mai was part of a program Scripps launched to provide support to new moms in the weeks and months after delivery. The postpartum program, known as Scripps Health’s Fourth Trimester Continuum of Care, provides care for women with high-risk pregnancies to optimize their health after childbirth and reduce the risk of complications in future pregnancies. Click here to learn more.
For more nutrition, wellness, and healthy living tips, sign up for the San Diego Health newsletter here.
Scripps Clinic’s Mohs surgery center is one of the most sophisticated in the country.
It’s estimated that one in five people in the U.S. will develop skin cancer at some point in their lives. When you factor in living in a sun-soaked city like San Diego and the outdoorsy lifestyle that comes with it, that figure can jump to as high as one in three, which makes early detection and intervention all the more important. Dermatologists at Bighorn Mohs and Dermatology Center are using innovative imaging methods and advanced surgical techniques to diagnose and treat skin cancer. For certain cancers in sensitive spots, like the face, dermatologists perform Mohs surgery, removing skin tissue layer by layer until reaching healthy, cancer-free tissue. They also use a process called immunohistochemistry to view tissue samples taken during Mohs surgery in far greater detail than previous methods. Read more about how Scripps is advancing skin cancer care here.
For more nutrition, wellness, and healthy living tips, sign up for the San Diego Health newsletter here.
Scripps Cancer Center helps an endurance athlete overcome his greatest challenge yet and get back in the race
When endurance athlete Isaac Sanchez learned he had cancer, he felt blindsided. He was healthy, surfed often and was training for an Ironman triathlon. But he had to put that on hold to undergo treatment. His physicians at Scripps Cancer Center developed a plan to treat the cancer in his tonsil and lymph nodes that included six-and-a-half weeks of near-daily radiation and weekly chemotherapy. He also worked with a Scripps Cancer Center dietitian to enhance his nutrition to promote strength and healing. Today, Isaac’s back to doing what he loves. Read more of his story here.
For more nutrition, wellness, and healthy living tips, sign up for the San Diego Health newsletter here.