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Compare Maryland State's Best Reverse Mortgages
Compare Maryland State's Best Reverse Mortgages
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Maryland State's #1 Reverse Mortgage

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ARLO

ARLO

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In your current area 100 homeowners are currently utilizing reverse mortgages to better enhance their retirement years, with 500,000 nationwide!

The amount you receive is based on your home’s value, your age, and current interest rates. Let’s start with your address so I can estimate your home value…
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If you feel this estimate is not correct you can manually change it below. If you have an existing mortgage balance, I'll need to know the amount we are going to pay off to get rid of that mortgage payment!

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If you presently have an existing mortgage balance, I'll need to know the amount we are going to pay off to get rid of that mortgage payment!
(Our calculations use estimated property values provided by Estated.com. An independent HUD-approved appraiser must complete an appraisal to finalize your loan)
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The minimum qualifying age for a reverse mortgage is 55

Don’t forget to include your spouse’s age, even if they are not yet 55, as loan proceeds are always based on the age of the youngest spouse.
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Your personalized results include the best of 2024's reverse mortgages
  • Side-by-side loan comparisons
  • Real-time interest rates
  • ARLO™ advice to help you select the right program
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From America's #1 Rated Reverse Mortgage Lender

Top Reverse Mortgage Lenders in Maryland

LenderRatingYears in BusinessStars (0-5)Good Review %ComplaintsBBB Review
All Reverse Mortgage, Inc. (ARLO)A+204.99/599.8%0Source
Advisors Mortgage GroupA+241.80/536.0%5Source
American Advisors Group (AAG)A194.70/594.0%61Source
American Pacific MortgageF281.75/535.0%13Source
Ennkar Inc.A+144.00/580.0%3Source
Fairway Independent MortgageA+284.35/587.0%38Source
Finance of America Reverse LLC (FAR)A+201.00/520.0%21Source
GoodLife Home LoansA+124.43/588.6%0Source
Guild Mortgage Company (Formerly Cherry Creek LLC)A+641.36/527.2%40Source
HighTechLending IncA+184.93/598.6%0Source
Liberty Home Equity Solutions Inc.A+211.00/520.0%3Source
Longbridge Financial LLCA+123.92/578.4%17Source
Mid America Mortgage Inc.A+653.00/560.0%0Source
MoneyhouseNRNANANA0Source
Movement Mortgage, LLCA+174.80/595.6%110Source
Mutual of Omaha MortgageA+114.71/594.2%50Source
Open Mortgage LLCA+212.60/552.0%1Source
Plaza Home Mortgage IncA+232.29/545.8%18Source
Smartfi Home LoansA+5NANA0Source
South River Mortgage, LLCA+52.62/552.4%15Source
Top 20 HECM lenders reported by https://www.rminsight.net/wp-content/uploads/2024/06/Lenders_202405.pdf. (Reviews Updated: September 15, 2024).

Maryland Reverse Mortgage Facts

StateHomeowners Age 62+Reverse Mortgages Closed Last 12 MonthsPurchase Reverse Mortgages Closed Last 12 MonthsLenders in MarylandAvg. Home Value
Maryland246,4943453467$418,269

Maryland Reverse Mortgage Lending Limits

Maryland, often called The Old Line State, is home to an estimated 6.05 million people as of 2024. Of these residents, around 378,983 are homeowners aged 62 and older, making a substantial portion of Maryland’s population potentially eligible for a reverse mortgage.

Home Values and Reverse Mortgage Options

As of January 2024, the median home value in Maryland is approximately $377,400. This value is well below the federal reverse mortgage lending limit of $1,149,825, meaning that most Maryland homeowners are eligible to benefit fully from a Home Equity Conversion Mortgage (HECM). For homeowners whose properties are valued above this limit, jumbo reverse mortgage programs offer additional access to home equity.

A Rich Historical Background

Maryland, one of the original 13 colonies, has deep historical roots that precede the United States’ founding. Established in 1632 when George Calvert, the 1st Baron Baltimore, applied for a royal charter, the Province of Maryland became the birthplace of significant American historical events. Maryland joined the Union as the seventh state on April 28, 1788, contributing to key moments such as:

  • The establishment of the Mason-Dixon Line in 1763, which helped resolve boundary disputes between Maryland and Pennsylvania.
  • Francis Scott Key penning the Star-Spangled Banner in 1814, inspired by Maryland’s role in the War of 1812.
  • The Battle of Antietam in 1862, the bloodiest single-day battle in American history.

Maryland’s Largest Cities

Maryland’s largest city, Baltimore, has a population of approximately 611,600 and is home to Johns Hopkins University and the Johns Hopkins Hospital, both world-renowned institutions. Baltimore is also known for its rich cultural heritage, serving as the setting for works by Edgar Allan Poe, Barry Levinson, and John Waters, as well as the iconic HBO series The Wire.

The state’s capital, Annapolis, located 30 miles from Washington, D.C., is known for its beautiful waterfronts and historical significance, being home to the United States Naval Academy.

Maryland’s Climate and Economy

Maryland’s climate varies due to its geographical diversity. The western parts of the state experience cooler temperatures, with an annual average of 48°F, while the southeastern regions are warmer, averaging 59°F annually. Summers are generally hot and humid, while winters can be cold with occasional snow.

The state’s economy is driven by several key sectors, including government services, healthcare, biotechnology, and hospitality. Major employers include Marriott International, Lockheed Martin, and the Social Security Administration. Maryland’s job market continues to grow, with a 1.8% increase in employment over the past year. In 2023, Forbes ranked Maryland 26th in its Best States for Business report.

Other Areas of Interest in Maryland

Baltimore Columbia Frederick Germantown Silver Spring

Maryland Approved Reverse Mortgage Counseling Agencies

NameAgency IDAddressPhoneWeb Site
CECIL COUNTY HOUSING AGENCY84087SUITE 1800
200 CHESAPEAKE BLVD
ELKTON, MD 21921-6653
(410) 996-5245https://www.ccgov.org/government/community-services/housing
DRUID HEIGHTS COMMUNITY DEVELOPMENT CORP.807632140 MCCULLOH ST
BALTIMORE, MD 21217-3529
(410) 523-1350http://Www.druidheights.com
HARFORD COUNTY, MARYLAND8033115 S MAIN ST
BEL AIR, MD 21014-8723
(410) 638-3045https://www.harfordhousing.org
MONEY MANAGEMENT INTERNATIONAL - SILVER SPRING8053215847 CRABBS BRANCH WAY
ROCKVILLE, MD 20855-2635
(866) 232-9080http://www.moneymanagement.org
SALISBURY NEIGHBORHOOD HOUSING SERVICE, INC80881560 RIVERSIDE DR STE A102
SALISBURY, MD 21801-4702
(410) 543-4626http://www.salisburynhs.org
THE CITY OF FREDERICK81056100 S MARKET ST
FREDERICK, MD 21701-5527
(301) 600-1506http://www.cityoffrederickmd.gov

Did you know? Maryland does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies, and you can conduct your required counseling from the comfort of your home.

Additional Resources:

Author Michael Branson
About the Author, Michael G. Branson | Mike@allreverse.com
Michael G. Branson CEO, All Reverse Mortgage, Inc. and moderator of ARLO™ has 45 years of experience in the mortgage banking industry. He has devoted the past 19 years to reverse mortgages exclusively.
Maryland Reverse Mortgages
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