Massachusetts' #1 Reverse Mortgage*

Reverse Mortgages in Massachusetts: A Comprehensive Guide

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

Top Reverse Mortgage Lenders in Massachusetts

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).

Massachusetts Reverse Mortgage Lending Limits

Massachusetts is the 15th most populous state in the U.S., with an estimated 7.1 to 7.2 million residents as of 2026. A significant share of the population lives in the Greater Boston metropolitan area, which drives much of the state’s housing and economic activity. Massachusetts also has a large and growing older population, with approximately 1.2 to 1.3 million residents age 62 and older. This represents a substantial portion of homeowners who meet the age requirement for a reverse mortgage, particularly in higher-value housing markets across the state.

Home Values and Reverse Mortgage Opportunities

As of January 2026, the median home value in Massachusetts is approximately $638,100. This is well within the federal reverse mortgage lending limit of $1,249,125, which applies to HECM (Home Equity Conversion Mortgage) loans. For homeowners valued above this limit, jumbo reverse mortgage programs offer the opportunity to access additional home equity.

A Deep Historical Background

Massachusetts has a long and storied history, dating back to the arrival of the Pilgrims in Plymouth in 1620. The state was named after the Massachuset tribe, and it officially became a state in 1788 as one of the original 13 colonies. Massachusetts has played a pivotal role in American history, with key events such as Paul Revere’s midnight ride, the Boston Tea Party, and the American Revolution shaping the nation’s founding.

The capital and largest city, Boston, remains a cultural and historical hub. It is home to some of the nation’s most prestigious institutions, including Harvard University and the Massachusetts Institute of Technology (MIT), located just across the Charles River in Cambridge.

Massachusetts’ Economy and Leading Industries

Massachusetts’ economy thrives on sectors such as education, biotechnology, tourism, and financial services. The state is home to several Fortune 500 companies, including General Electric and Liberty Mutual. The state’s rich political history is underscored by prominent figures such as the Kennedy family, which has left a lasting legacy on national politics.

Boston remains a hub for history, technology, and education, while Worcester, the state’s second-largest city, continues to grow with a population of over 184,000.

Massachusetts Climate

Massachusetts has a humid continental climate, experiencing cold winters and warm summers. The state is often susceptible to nor’easters, hurricanes, and tropical storms due to its coastal location. Summers are pleasant, with an average high of 81°F, while winters are colder, with an average low of 22°F. In August 1975, the state recorded its highest-ever temperature of 107°F.

Reverse Mortgage Benefits for Homeowners in Massachusetts

With a median home value of $472,500, many homes in Massachusetts fall below the federal reverse mortgage lending limit of $1,249,125, making reverse mortgages an appealing option for homeowners looking to access their home equity. For those with higher-value homes, jumbo reverse mortgage programs can offer greater borrowing potential beyond the federal limit.

Did you know? Massachusetts 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.

Additional Resources:
Reversemortgage.org NRMLA Members in Massachusetts
HUD.GOV Approved Lenders Search