Compare Maine's Best Reverse Mortgages!
Compare Maine's Best Reverse Mortgages!
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The minimum age for most reverse mortgages is 55

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Top Reverse Mortgage Lenders in Maine

Lender Rating Experience Stars (0-5) Good Reviews Complaints BBB
All Reverse Mortgage, Inc. (ARLO) A+ 19 Yrs. 4.9 99% 0 Source
Advisors Mortgage Group A+ 24 Yrs. 1.6 33% 6 Source
American Advisors Group (AAG) A- 19 Yrs. 4.6 93% 88 Source
American Pacific Mortgage F 27 Yrs. 1.0 20% 15 Source
Ennkar Inc. A+ 13 Yrs. 3.6 73% 3 Source
Fairway Independent Mortgage A+ 27 Yrs. 4.9 98% 43 Source
Finance of America Reverse LLC (FAR) A+ 20 Yrs. 1.5 31% 15 Source
GoodLife Home Loans A+ 11 Yrs. 4.4 88% 1 Source
Guild Mortgage Company (Formerly Cherry Creek LLC) A+ 63 Yrs. 1.3 26% 59 Source
HighTechLending Inc NR 15 Yrs. 3.0 60% 1 Source
Liberty Home Equity Solutions Inc. A+ 20 Yrs. 1.00 20% 3 Source
Longbridge Financial LLC A+ 11 Yrs. 3.9 79% 17 Source
Mid America Mortgage Inc. NR 64 Yrs. 3.0 60% 0 Source
Moneyhouse A+ NA NA NA 0 Source
Movement Mortgage, LLC A+ 16 4.7 95% 109 Source
Mutual of Omaha Mortgage A+ 10 Yrs. 4.8 96% 51 Source
Open Mortgage LLC A+ 20 Yrs. 2.7 54% 1 Source
Plaza Home Mortgage Inc A+ 22 Yrs. 1.7 35% 5 Source
Smartfi Home Loans A+ 4 Yrs. NA NA 0 Source
South River Mortgage, LLC A+ 4 Yrs. 2.3 46% 15 Source
Reviews Updated: 11/29/2023
The BBB is one of the last review sites that does not accept monetary influence in their ratings or posted reviews.

Maine Reverse Mortgage Facts

StateHomeowners Age 62+Reverse Mortgages Closed Last 12 MonthsPurchase Reverse Mortgages Closed Last 12 MonthsLenders in MaineAvg. Home Value

Maine Lending Limits

Maine lending limits

Maine is the 42nd most populous state in the United States and is the 39th largest in terms of area. As of 2017, approximately 1,335,907 people lived in the state, with more than half of the population residing around Portland. About 265,845 residents in the state are age 65 and older, and about 71% of people in the state are homeowners.

The largest state in the New England region, Maine’s first English colony was briefly established in the early 1600s. About 20 years later, the first sawmills were set up in the state, and lumber would continue to be an important of Maine’s economy long into the future. The French and English continued to fight over the land for many years until the American Revolution. Maine entered the United States as a free state in 1820. It was the 23rd state.

Portland is the largest city in Maine, with almost half of the state’s population residing in its metro area. Approximately 67,067 residents live in its city limits. Over the years, Portland has been rebuilt after fires and war destroyed its buildings and structures. Both poet Henry Wadsworth Longfellow and author Stephen King were born in Portland. It is also home to the first chewing gum factory.

After Portland, the next largest cities are Lewiston and Bangor. A few of Maine’s leading industries are healthcare, retail, and tourism. Maine was ranked 46 on Forbes’ list of ‘Best Places to Do Business’, and it’s largest companies in terms of number of employees are MaineHealth, Unum, and L.L. Bean

Characterized as having a humid continental climate, Maine’s location on the Atlantic Ocean means that temperatures inland are warmer in the summer and colder in the winter than along the coast. In the summer, the average high in July is 79 degrees Fahrenheit, and in the winter the average low in January is 11 degrees Fahrenheit. Inland receives more snow than coastal areas, but the state is subject to the occasional nor’easter.

The average home value in the state is $339,200, below the federal maximum reverse mortgage lending limit of $1,149,825 that applies to all HECM loans. For more borrowing power above the federal limit, there are jumbo reverse mortgage programs available.

Top Lender Resources in ME:
Reversemortgage.org NRMLA Members in Maine
HUD.GOV Lenders

Maine State References: 65 and over | Maine History (Source 1, Source 2)

Maine Approved Reverse Mortgage Counseling Agencies

Agency NamePhoneAgency IDAddressLanguagesWebsite
COASTAL ENTERPRISES, INCORPORATED207-504-59008098530 Federal Street
Suite 100
BRUNSWICK, Maine 04011-1510

Did you know? Maine 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.

Maine Reverse Mortgages
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