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Compare Maryland's Best Reverse Mortgages

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The minimum qualifying age for a reverse mortgage is 62. If you are within 6 months from your next birthday, I will automatically calculate you a year older.
Tip! Don’t forget to include your spouse’s age, even if they are not yet 62, as loan proceeds are always based on the age of the youngest spouse.
Your Age
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From America's #1 Rated Reverse Mortgage Lender

 Maryland Reverse Mortgage Lenders

Lender Name Years in Business Rating Stars (0-5.0) Positive Reviews Complaints BBB Reviews
Longbridge Financial, LLC 6 A+ 3.5 70% 2 Source
American Advisors Group (AAG) 14 A- 4.1 82% 53 Source
Reverse Mortgage Funding LLC 6 A+ 3.0 50% 8 Source
One Reverse Mortgage, LLC (QUICKEN)
11 A+ 3.0 50% 3 Source
Liberty Home Equity Solutions, Inc. (OCWEN) 15 A+ 2.1 42% 2 Source
Retirement Funding Solutions (RFS) 9 A+ (N/A) (N/A) 1 Source
Fairway Independent Mortgage 23 A+ 2.1 42% 21 Source
HighTech Lending Inc. 13 A- 2.0 60% 2 Source
Finance of America Reverse LLC (FAR) 15 A+ 1.0 20% 2 Source
*Source: Lender Ratings as of 04/12/2020

 

Maryland Reverse Mortgage Facts

StateHomeowners Age 62+Reverse Mortgages Closed Last 12 MonthsPurchase Reverse Mortgages Closed Last 12 MonthsLenders in MarylandAvg. Home Value
Maryland246,4944973467$312,500

 

 

Maryland Lending Limits

The Old Line state has a population of 6,042,718 and 378,983 of those people are homeowners age 62 and older, which means more than three hundred and fifty thousand people may be eligible for a reverse mortgage.

The median home value in Maryland is $312,500, which is much lower than the HECM reverse mortgage lending limit of $765,600.

One of the original 13 colonies, the state of Maryland’s history predates the United States. The state’s earliest seeds go back to 1632, when George Calvert, 1st Baron Baltimore, applied for a royal charter to create the Province of Maryland. The region was granted statehood on April 28, 1788, thus beginning a long and storied portion of American history.

Among the more notable early chapters in Maryland’s history, pre- and post-statehood, include the 1763 creation of the Mason-Dixon Line, the Maryland-inspired penning of the Star-Spangled Banner in 1814, the Battle of Antietam in 1862, and the flight training exercises by Wilbur Wright that helped create the world’s oldest continually operating airport.

Today, with approximately 611,600 residents, Baltimore is Maryland’s largest city and home to the groundbreaking Johns Hopkins University and the Johns Hopkins Hospital. In popular culture, the city is the proud home of Edgar Allan Poe and now known for the films of Barry Levinson and John Waters and the HBO television show The Wire. The capital of Maryland is Annapolis, located about 30 miles east of Washington, D.C.

With a variety of geographical forces at play, Maryland’s climate is rather diverse. Though the state on a whole ranks 20th in the U.S. in average temperature, individual sections of the state range from an annual average of 48 degrees in the western portion to 59 in the southeast.

Along with Baltimore and Columbia, the largest cities and census-designated places in Maryland are Germantown, Silver Spring and Waldorf. The state’s economy improved nominally in 2017, with job growth up 1.8%. Forbes ranked the state 26th in its Best States for Business rankings. Maryland still provides workers with opportunities at some of the country’s most successful businesses; Marriott International, Lockheed Martin and the Social Security Administration are all based in Maryland.

Reference:
Maryland population
Maryland home values

Other Areas of Interest in Maryland

Maryland Reverse Mortgage Counseling Agencies

Agency NamePhoneAddressWebsiteAgency IDLanguages
DRUID HEIGHTS COMMUNITY DEVELOPMENT CORP.410-523-13502140 McCulloh St
Baltimore, Maryland 21217-3529
www.druidheights.com80763English
GUIDEWELL FINANCIAL SOLUTIONS, INC443-451-1689757 Frederick Rd
2nd Floor
Baltimore, Maryland 21228-4500
www.guidewellfs.org90302English
Spanish
SOUTHEAST COMMUNITY DEVELOPMENT CORPORATION410-342-32343323 Eastern Ave
Suite 200
Baltimore, Maryland 21224-4109
www.southeastcdc.org81066English
Spanish
HARFORD COUNTY HOUSING AGENCY410-638-304515 S Main St Ste 106
Bel Air, Maryland 21014-8723
www.southeastcdc.org80331English
Spanish
CECIL COUNTY HOUSING AGENCY410-996-8216200 Chesapeake Blvd Ste 1800
Elkton, Maryland 21921-6682
www.harfordhousing.org84087English
Spanish
FREDERICK COMMUNITY ACTION AGENCY301-600-1506100 S Market St
FREDERICK, Maryland 21701-5527
www.ccgov.org/dept_housing/index.cfm81056English
Spanish
WASHINGTON COUNTY COMMUNITY ACTION COUNCIL (WCCAC)301-797-4161117 Summit Ave
Hagerstown, Maryland 21740-5508
www.cityoffrederick.com/fcaa81797English
HOUSING INITIATIVE PARTNERSHIP, INC. (HIP)301-699-38356525 Belcrest Road
Suite 555
HYATTSVILLE, Maryland 20782-2003
www.wccac.org81843English
Spanish
ASIAN -AMERICAN HOMEOWNERSHIP COUNSELING INC.301-760-763612320 Parklawn Drive
ROCKVILLE, Maryland 20852-1726
www.aa-hc.org80375Chinese Mandarin
English
Hindi
Korean
Spanish

 

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

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