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Compare Alabama's Best Reverse Mortgages!
Compare Alabama's Best Reverse Mortgages!
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Alabama's #1 Reverse Mortgage

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 Top 10 Reverse Mortgage Lenders in Alabama

Lender Rating Years in Business Stars (0-5) Good Review % Complaints BBB
All Reverse Mortgage, Inc. (ARLO) A+ 19 4.9/5 99% 0 Source
Advisors Mortgage Group A+ 24 1.6/5 33% 4 Source
American Advisors Group (AAG) A 19 4.7/5 94% 82 Source
American Pacific Mortgage F 27 1.0/5 20% 15 Source
Ennkar Inc. A+ 13 3.6/5 73% 3 Source
Fairway Independent Mortgage A+ 27 4.9/5 98% 43 Source
Finance of America Reverse LLC (FAR) A+ 20 1.5/5 31% 18 Source
GoodLife Home Loans A+ 11 4.4/5 88% 1 Source
Guild Mortgage Company (Formerly Cherry Creek LLC) A+ 63 1.3/5 26% 52 Source
HighTechLending Inc NR 15 3.0/5 60% 1 Source
Liberty Home Equity Solutions Inc. A+ 20 1.00/5 20% 3 Source
Longbridge Financial LLC A+ 11 3.9/5 79% 15 Source
Mid America Mortgage Inc. NR 65 3.0/5 60% 0 Source
Moneyhouse A+ NA NA NA 0 Source
Movement Mortgage, LLC A+ 16 4.7/5 95% 110 Source
Mutual of Omaha Mortgage A+ 10 4.8/5 96% 60 Source
Open Mortgage LLC A+ 20 2.8/5 56% 1 Source
Plaza Home Mortgage Inc A+ 23 1.8/5 36% 27 Source
Smartfi Home Loans A+ 4 NA NA 0 Source
South River Mortgage, LLC A+ 4 2.3/5 46% 14 Source
Reviews Updated: 01/29/2024
The BBB is one of the last review sites that does not accept monetary influence in their ratings or posted reviews.
 

Alabama Reverse Mortgage Facts

StateHomeowners Age 62+Reverse Mortgages Closed Last 12 MonthsPurchase Reverse Mortgages Closed Last 12 MonthsLenders in AlabamaAvg. Home Value
Alabama478,8336011357$273,500 

Alabama Lending Limits

As part of the southeastern part of America, Alabama has one of the nation’s longest navigable inland waterways at nearly 1,500 miles. The state is the 24th most populous state with an estimated population of 4,863,300 in 2016, and 471,458 of those residents are homeowners 62 and older.

During its early history, Alabama suffered economic hardship from roughly the American Civil War through World War II. In the 21st century, however, the state’s economy is based on the management, automotive, finance, manufacturing, aerospace, mineral extraction, healthcare, education, retail and technology industries.

Alabama has a variety of different habitats that produce a wide array of flora and fauna. Those habitats include the Tennessee Valley, the Appalachian Plateau and the Ridge-and-Valley Appalachians. There are many indigenous animal species that call Alabama home, including 62 mammal species, 93 reptile species, 73 amphibian species, approximately 307 native freshwater fish species and 420 bird species.

Tourism is a major part of the state’s economy, as an estimated 20 million tourists visit Alabama each year. Some of the most popular areas for tourism are the Rocket City of Huntsville, Montgomery, which is the state’s capitol, and the numerous beaches along the Gulf of Mexico on the state’s southern border.

Living in Alabama is relatively inexpensive and home prices have remained fairly steady in recent history.  As of Januairy 2023, the average home value currently is $273,500, up 5% fromthis time last year.

Alabama Reverse Mortgage Counseling Agencies

Agency NamePhoneAgency IDAddressLanguagesWebsite
GATEWAY FINANCIAL FREEDOM/CCCS OF CENTRAL ALABAMA205-510-2600816151401 20th St S
BIRMINGHAM, Alabama 35205-4913
Englishwww.gway.org
HALE EMPOWERMENT AND REVITALIZATION ORGANIZATION (HERO)334-624-0842838421120 Main St
Greensboro, Alabama 36744-1516
Englishwww.herohousing.org/
CCCS OF MOBILE251-602-001181453705 Oak Circle Drive East
MOBILE, Alabama 36609-4221
Englishwww.cccsmobile.org
MOBILE HOUSING BOARD251-434-220580204151 S Claiborne St
Mobile, Alabama 36602-2323
Englishwww.mobilehousing.org

Did you know? Alabama state does not mandate in-person counsleing. Visit our counseling page for a list of phone-based counseling agencies and conduct your required counseling from the comfort of your home.

Additional Resources:
Reversemortgage.org NRMLA Members in Alabama: https://www.reversemortgage.org/Find-a-Lender/state/AL
HUD.GOV Approved Lenders Search: https://www.hud.gov/program_offices/housing/sfh/lender/lenderlist

Alabama Reverse Mortgages
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