Reverse Mortgages in Delaware: A Comprehensive Guide

If you’re a Delaware 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 Delaware, including key facts, the latest statistics, top lenders, and essential protections.

Top 20 Reverse Mortgage Lenders in Delaware

LenderBBB RatingYears in BusinessCustomer Rating (0–5)% Positive ReviewsComplaintsSource
Atlantic Avenue Mortgage LLCA+24.94/598.8%2Source
American Pacific MortgageF281.75/535.0%8Source
Cross Country MortgageF221.46/529.2%300Source
Fairway Independent MortgageB+294.48/589.6%28Source
Finance of America Reverse LLC (FAR)A+211.00/520.0%37Source
GMFS MortgageA+262.5/550.0%18Source
Goodlife Home LoansA+135.0/5100%0Source
Guild Mortgage Company (Formerly Cherry Creek LLC)A+641.36/527.2%25Source
HighTechLending IncA+194.93/598.6%1Source
Liberty Home Equity Solutions Inc.A+211.00/520.0%1Source
Longbridge Financial LLCA+123.81/576.2%25Source
Mid America Mortgage Inc.A+66NANANASource
MoneyhouseNR27NANA0Source
Movement Mortgage, LLCA+174.83/596.2%95Source
Mutual of Omaha MortgageA+121.49/529.8%55Source
Open Mortgage LLCA+223.67/573.4%1Source
Plaza Home Mortgage IncA+243.44/568.8%7Source
Smartfi Home LoansA+61.00/529.0%0Source
South River Mortgage, LLCA+63.55/571.0%12Source
Source: Data compiled from https://www.rminsight.net/wp-content/uploads/2025/05/Lenders_202504.pdf RMInsight (Top 20 HECM Lenders, July 2025 and Better Business Bureau reviews updated as of July 7, 2025.

Latest Delaware Reverse Mortgage Statistics

StateHomeowners Age 62+Reverse Mortgages Closed Last 12 MonthsLenders in DelawareAvg. Home Value
Delaware64,0008511$382,867
HECM Data source: https://entp.hud.gov/sfnw/public/
Loan Type: HECM Standard Loans Originated in Delaware
Performance Period: Loans endorsed between January 1, 2024, and December 31, 2024
Note: Includes all HECM Standard cases within the specified endorsement period.

Delaware Reverse Mortgage Overview

Delaware, known as “The First State” due to its early ratification of the U.S. Constitution, is home to approximately 1 million residents. Many of these residents are homeowners aged 62 and older, making them eligible for a reverse mortgage to help supplement their retirement.

Delaware’s Home Values and Lending Limits

As of January 2024, the median home value in Delaware is $335,000, well below the federal maximum reverse mortgage lending limit of $1,209,750 for Home Equity Conversion Mortgages (HECM). This allows most Delaware homeowners to benefit fully from a reverse mortgage, enabling them to tap into their home’s equity while continuing to live in it.

Delaware’s History and Economy

Delaware’s rich history began with its founding in 1638 by Swedish settlers, and it became the first state to join the Union in 1787. Delaware has significant historical importance despite its small size, particularly in Wilmington, the state’s largest city. Wilmington is a hub for commerce and financial services, housing major institutions such as Chase, DuPont, and AstraZeneca.

Dover, the state capital, is known for its historical significance and the annual Dover International Speedway races, which attract visitors from across the country. The state also offers a favorable tax climate, making it a popular retirement destination for seniors.

Climate and Lifestyle

Delaware experiences all four seasons, with mild winters and warm summers. Temperatures range from an average low of 32°F in January to a high of 85°F in July. Its proximity can bring humidity and occasional coastal storms, but retirees consider the overall climate temperate and comfortable.

Reverse Mortgage Options in Delaware

Given Delaware’s median home value of $382,867, most homes fall within the HECM lending limit, making reverse mortgages an accessible option for many. For homeowners with higher-value properties, jumbo reverse mortgage programs provide additional flexibility and greater borrowing power.

Delaware Approved Reverse Mortgage Counseling Agencies (NO AGENCIES FOUND]

NO RECORDS MATCHED YOUR SELECTION CRITERIA

Did you know? Delaware 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.

Top Lender Resources in DE:
Reversemortgage.org NRMLA Members in Delaware
HUD.GOV Approved Lenders Search