Compare Connecticut's Best Reverse Mortgages
Did You Know?
Your Home's Value
Top 10 Reverse Mortgage Lenders in Connecticut
|Lender Name||Years in Business||Stars (0-5.0)||Positive Reviews||Complaints||BBB Reviews|
|Longbridge Financial LLC||8||3.1||62%||6||Source|
|American Advisors Group (AAG)||16||3.99||79%||62||Source|
|HighTech Lending Inc||14||3.0||60%||0||Source|
|Fairway Independent Mortgage||25||4.97||99%||31||Source|
|Finance of America Reverse LLC (FAR)||17||3.5||70%||4||Source
|Liberty Home Equity Solutions, Inc.||17||3.0||70%||0||Source|
|Mutual of Omaha Mortgage||8||4.4||33%||13||Source|
|One Reverse Mortgage LLC (Quicken)||36||1.5||20%||3||Source|
|Reverse Mortgage Funding LLC||8||3.8||76%||13||Source|
All Reverse Mortgage® is proud to be Connecticut's #1 Rated Reverse Mortgage Lender by the BBB with a Perfect 5.0 Stars and A+ Exemplary Rating. We currently lend in 16 states and all throughout Connecticut.
Since we started in 2004, our goal has remained simple: to offer the best terms with unbeatable customer service.
Compare our competitive rates and lower costs to any competitor and realize thousands more from your home’s equity!
The difference is clear, and we can’t wait to show you!
Connecticut Reverse Mortgage Facts
|State||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Connecticut||Avg. Home Value|
HUD Approved Direct Lender
HUD Approved Direct Lender
All Reverse Mortgage® is approved with the Department of Housing and Urban Development (HUD) to originate, underwrite and close the HUD Home Equity Conversion Mortgage (HECM, or “Heck-um”). The HECM is HUD’s acronym for the reverse mortgage program it administers for seniors who are 62 and older.
About All Reverse Mortgage®
The owners and management of All Reverse were part of the team that wrote and sold the first fixed rate jumbo reverse mortgage in 2008 and as such, have extensive experience in jumbo or proprietary loan programs as well.
We are always looking for new products to offer to borrowers of high valued homes in the higher home priced markets that the HUD HECM may just not serve as well. Jumbo or proprietary programs typically offer much lower Principal Limits as they relate to values though so not all borrowers are better served with the jumbo programs.
Only a seasoned originator can readily inform borrowers which program will best suit their needs and the positives and negatives of each so that the borrower can make an informed decision.
It is no longer uncommon anywhere in the country for a market to be a solid HUD HECM market and then within just a short distance for a niche jumbo market to be located where there is a need for a jumbo program.
Therefore, homeowners aged 62 and above in all markets have seen that the reverse mortgage can be a very solid financial tool, and many are now seeking the reverse mortgage to augment their retirement plans and not so much the mortgage of last resort.
Everything from the elimination of existing mortgage payments to the line of credit that grows make reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably in their family home, but to plan as well.
Connecticut Lending Limits
The southernmost state in the New England region, Connecticut is the 29th-most populous state in the Union and the 48th largest in terms of land area. As of 2017, it had an estimated population of 3,588,184, with the most affluent and populated areas being on the Western side of the state. As of 2017, 625,498 residents were age 62 and older, and more than 76% of residents 65 and older were homeowners.
Beginning in 1614, the Dutch were the first Europeans in the area, but the English established the first major settlements in Connecticut in the 1630s. Founded as one of the original 13 colonies In 1662, it was the fifth state to enter the union in 1788. Because of its contributions in the Revolutionary War, it is sometimes known as the “Constitution State” or the “Provisions State”.
Once the industrial center of the state, the seaport town of Bridgeport is the largest city in Connecticut, with an estimated population of 151,267. Showman P.T. Barnum housed his famous circus in Bridgeport during the winters in the nineteenth century. The city also claims the first Subway restaurant and is home of the frisbee. The next largest city is New Haven, home to Yale University.
Because of its location on the coast, the climate in Connecticut varies. Most of the state has mild, humid summers and cold winters. Along the water, winters are milder and summers are hotter and humid. Winters bring snow and summer has thunderstorms with the occasional - usually indirect - effects of hurricane season.
Following Bridgeport and New Haven, Stamford and Hartford are the next biggest cities. Main industries are insurance and finance, and the state boasts the highest per capita income in the nation. 19 Fortune 500 companies, including General Electric, Aetna, and Xerox, call Connecticut home.
With its picturesque New England charm and centuries-old history, tourism is a thriving industry in this state. In 2006, tourism, combined with art, film, and history, was said to have brought in $14 billion.
The median home value in Connecticut is $240,700 and values are predicted to increase 4% over the next year. With this as a median, many homes in the state fall under the federal maximum reverse mortgage lending limit of $970,800 that applies to all HECM loans. For more borrowing power above the federal limit, there are jumbo reverse mortgage programs available.
If you reside in Connecticut, All Reverse Mortgage® is here to answer your questions.
Connecticut Approved Reverse Mortgage Counseling Agencies
|Agency Name||Phone, Toll-Free,
|BRIDGEPORT NEIGHBORHOOD TRUST||Phone: 203-290-4255-4255
Agency ID: 80835
|570 State Street
BRIDGEPORT, Connecticut 06604-4504
|NATIONAL COMMUNITY REINVESTMENT COALITION, INC.|
|NEIGHBORHOOD HOUSING SERVICES OF WATERBURY, INC.||Phone: 203-753-1896
Agency ID: 80865
|193 Grand Street 3rd CToor
WATERBURY, Connecticut 06702-1919
|NEIGHBORHOOD REINVESTMENT CORP. DBA NEIGHBORWORKS AMERICA|
Did you know? Connecticut state does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies and conduct your required counseling from the comfort of your home.
Reversemortgage.org NRMLA Members in Connecticut: https://www.reversemortgage.org/Find-a-Lender/state/CT
HUD.GOV Approved Lenders Search: https://www.hud.gov/program_offices/housing/sfh/lender/lenderlist
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently brought exclusive offers to our valued Connecticut homeowners. Because of our unique process we're able to offer a better federally-insured reverse mortgage with no compromise.
Take a look at some of our competitive rates that you won't find elsewhere:
|Exclusive 3.06% (4.06% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 2.23% with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Plans|
|ZERO Financed Closing Cost Plans|
|ZERO Monthly Servicing Fees on ALL programs|
How can we offer you more favorable terms?We are a direct lender approved by FHA (Federal Housing Administration) The HECM is literally all we do. All Reverse Mortgage is not just a name for us. We have a very low (almost non-existent) staff turnover and our people are experts. We don't work with Brokers, allowing us to pass the savings on to you. We don't hire "celebrity" spokespersons as we don't believe you should have to pay for a lender's expensive marketing budget with higher loan costs. We Charge Less! Check out our competition and our customer ratings. We never forget that this loan is about you and your needs and we put you first with superior service and lower costs.
All Reverse vs. the others
HUD approved direct lender.
Working with a local Connecticut lender saves you time and money.
As an award-winning direct lender our goal remains simple; to offer you the very best terms accompanied by extraordinary customer service.
What Our Customers Are Saying
|"There was no car salesman type of protracted negotiation. All reverse got right down to a good quote without a series of incremental steps."|
|"I was surprised how easy it was to deal with an out of state company. Actually it was much easier than my previous dealings with local banks and brokers"|
|"It is a wonderful feeling to have no mortgage and extra cash in our pocket. We are very happy."|
|"Thank you to All Reverse for handling everything in an efficient and smooth way. Thoroughly appreciate everything you have done to make things easy for me."|
|"This was the smoothest mortgage process I have ever experienced! And so fast!"|