Connecticut's #1 Rated Reverse Mortgage

Michael G. Branson, CEO of All Reverse Mortgage, Inc., and moderator of ARLO™, has 45 years of experience in the mortgage banking industry. He has devoted the past 20 years to reverse mortgages exclusively. (License: NMLS# 14040)

All Reverse Mortgage's editing process includes rigorous fact-checking led by industry experts to ensure all content is accurate and current. This article has been reviewed, edited, and fact-checked by Cliff Auerswald, President and co-creator of ARLO™. (License: NMLS# 14041)

By Michael G. Branson   Edited by Cliff Auerswald

Reverse Mortgages in Connecticut: A Comprehensive Guide

If you’re a Connecticut homeowner aged 62 or older, a reverse mortgage could be a valuable tool to help you unlock the equity in your home and improve your financial security during retirement. In this guide, we’ll cover everything you need to know about reverse mortgages in Connecticut, including key facts, the latest statistics, top lenders, and essential protections.

Top 20 Reverse Mortgage Lenders in Connecticut

Latest Connecticut Reverse Mortgage Statistics

Connecticut Reverse Mortgage Lending Limits

Connecticut, the southernmost state in New England, is the 29th most populous state in the U.S. As of 2024, the state has an estimated population of approximately 3.6 million residents, with the most affluent and populated areas in its western region. Around 823,529 residents are aged 62 and older, and more than 76% of those 65 and older are homeowners.

Connecticut’s Rich History and Economy

The Dutch were the first Europeans to explore the area in 1614, but the English established the first permanent settlements in the 1630s. Connecticut, one of the original 13 colonies, became the fifth state to join the Union in 1788. Due to its contributions during the Revolutionary War, the state is sometimes called the “Constitution State” or the “Provisions State.”

Bridgeport, Connecticut’s largest city, has a population of about 150,000 and was once the state’s industrial hub. It also served as the winter home for P.T. Barnum’s circus during the 19th century. Other significant cities include New Haven, home to Yale University, Stamford, and the capital, Hartford. The insurance and finance sectors dominate the state’s economy, and Connecticut boasts the highest per capita income in the nation. Nineteen Fortune 500 companies, including General Electric, Aetna, and Xerox, are headquartered here.

Climate and Lifestyle

Connecticut’s climate varies across the state. Most regions experience humid summers and cold winters, with coastal areas experiencing milder winters and hotter summers. Snow is common in winter, and summers occasionally bring thunderstorms and the indirect effects of hurricanes.

Reverse Mortgage Opportunities in Connecticut

As of January 2025, the median home value in Connecticut is $405,746, which represents a 6.3% increase over the previous year. Given this median value, many Connecticut homes fall under the federal reverse mortgage lending limit of $1,209,750, making them eligible for HECM (Home Equity Conversion Mortgage) loans. For homes valued above this limit, proprietary jumbo reverse mortgage programs are available for more borrowing power.

HUD-Approved Reverse Mortgage Counseling Agencies in Connecticut

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.

Additional Resources:
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