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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) |
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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) |
Michael G. Branson
Edited by 
Cliff Auerswald
Reverse Mortgages in Maine: A Comprehensive Guide
If you’re a Maine 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 Maine, including key facts, the latest statistics, top lenders, and essential protections.
Top Reverse Mortgage Lenders in Maine
| Lender | BBB Rating | Accredited | Years in Business | Customer Rating (0–5) | % Positive Reviews | Complaints | Source |
|---|---|---|---|---|---|---|---|
| American Pacific Mortgage | F | NO | 28 | 1.75/5 | 35.0% | 6 | Source |
| CrossCountry Mortgage, LLC. | F | YES | 22 | 1.43/5 | 29.0% | 303 | Source |
| Fairway Independent Mortgage | A+ | YES | 29 | 4.51/5 | 90.0% | 26 | Source |
| Finance of America Reverse LLC (FAR) | A+ | YES | 22 | 3.71/5 | 74.0% | 36 | Source |
| Goodlife Home Loans | A+ | YES | 13 | N/A (Not enough reviews) | N/A (Not enough reviews) | 1 | Source |
| Guaranteed Rate | A+ | YES | 26 | 2.25/5 | 450% | 45 | Source |
| Guild Mortgage Company LLC | A+ | NO | 65 | 1.55/5 | 31.0% | 73 | Source |
| HighTechLending Inc | A+ | YES | 19 | 4.94/5 | 99.0% | 1 | Source |
| Liberty Home Equity Solutions Inc. | A+ | NO | 22 | 1.00/5 | 20.0% | 1 | Source |
| Longbridge Financial LLC | A+ | YES | 13 | 3.77/5 | 75.0% | 34 | Source |
| Luminate Bank | NR | NO | 84 | NA | NA | NA | Source |
| MCM Holdings | A+ | YES | 27 | NA | NA | NA | Source |
| The Money House | NR | NO | 28 | NA | NA | 0 | Source |
| Movement Mortgage, LLC | A+ | NO | 18 | 4.43/5 | 89.0% | 92 | Source |
| Mutual of Omaha Mortgage | A+ | YES | 12 | 3.31/5 | 66.0% | 65 | Source |
| New American Funding | A+ | YES | 26 | 4.65/5 | 93.0% | 147 | Source |
| Plaza Home Mortgage Inc | A+ | YES | 24 | 2.67/5 | 53.0% | 6 | Source |
| Smartfi Home Loans | A+ | YES | 6 | N/A (Not enough reviews) | N/A (Not enough reviews) | 0 | Source |
| South River Mortgage, LLC | A+ | NO | 6 | 3.79/5 | 76.0% | 14 | Source |
Maine Reverse Mortgage Statistics (2026 Update)
| State | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Lenders in Maine | Avg. Home Value |
|---|---|---|---|---|
| Maine | 700,000 | 147 | 12 | $387,400 |
How this data was derived: Reverse mortgage counts reflect FHA-insured HECM loans endorsed over a rolling 12-month period (Dec 2024–Nov 2025) using HUD HECM Snapshot data. Active lenders represent unique FHA sponsor numbers with at least one endorsed loan during this period. Estimated homeowners age 62+ are based on U.S. Census ACS 5-year owner-occupied households age 65+ as a conservative proxy. Home values are sourced from Zillow’s Home Value Index (latest available).
Maine Reverse Mortgage Lending Limits (2026)
Maine is the 42nd most populous state in the U.S., with an estimated population of approximately 1.4 million residents in 2026. While the state is smaller in size, it has a disproportionately older homeowner base. About 700,000 Maine homeowners are age 62 or older, making Maine one of the strongest states in the country for reverse mortgage eligibility on a per-capita basis.
Homeownership in Maine remains high, particularly among older households, creating a large population of equity-rich homeowners who may benefit from a reverse mortgage as part of their retirement planning.
Maine Cities, Economy, and Homeownership Trends
Portland is Maine’s largest city and economic center, followed by Lewiston and Bangor. While population growth is modest, homeownership rates remain strong across both urban and rural areas. Maine’s economy is anchored by healthcare, education, tourism, and regional employers such as L.L. Bean, Unum, and MaineHealth.
For older homeowners, long-term property ownership combined with steady home value appreciation has resulted in meaningful home equity, even in modestly priced markets.
Reverse Mortgage Opportunities in Maine
With an average home value of $387,400, most Maine properties fall well below the national HECM lending limit of $1,249,125, allowing many homeowners to fully utilize the federally insured Home Equity Conversion Mortgage program.
Key advantages for Maine homeowners include:
- No required monthly mortgage payments
- Ability to remain in the home for life
- Multiple payout options including lump sum, monthly income, or line of credit
- FHA protections that cap repayment at the home’s value
For homeowners with higher-valued properties, jumbo reverse mortgage programs are also available, offering expanded borrowing limits beyond FHA caps.
HUD-Approved Reverse Mortgage Counseling Agencies in Maine
| Name | Agency ID | Address | Phone | Web Site |
|---|---|---|---|---|
| COASTAL ENTERPRISES, INCORPORATED | 80985 | 30 Federal Street, BRUNSWICK, Maine, 04011-1510 | (207) 504-5900 | ceimaine.org |
Did you know? Maine 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 ME:
Reversemortgage.org NRMLA Members in Maine
HUD.GOV Lenders
