 |
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) |
 |
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 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
| Lender | BBB Rating | Years in Business | Star Rating (0–5) | Good Review % | Complaints | Source |
|---|---|---|---|---|---|---|
| Atlantic Avenue Mortgage LLC | B+ | 2 | 4.94/5 | 98.8% | 2 | Source |
| American Pacific Mortgage | F | 28 | 1.75/5 | 35.0% | 8 | Source |
| Cross Country Mortgage | F | 21 | 1.47/5 | 29.4% | 294 | Source |
| Fairway Independent Mortgage | A+ | 29 | 4.48/5 | 89.6% | 29 | Source |
| Finance of America Reverse LLC (FAR) | A+ | 21 | 1.00/5 | 20.0% | 36 | Source |
| GMFS Mortgage | A+ | 26 | 2.5/5 | 50.0% | 17 | Source |
| Goodlife Home Loans | A+ | 12 | 5.0/5 | 100% | 0 | Source |
| Guild Mortgage Company (Formerly Cherry Creek LLC) | A+ | 64 | 1.36/5 | 27.2% | 28 | Source |
| HighTechLending Inc | A+ | 19 | 4.93/5 | 98.6% | 1 | Source |
| Liberty Home Equity Solutions Inc. | A+ | 21 | 1.00/5 | 20.0% | 2 | Source |
| Longbridge Financial LLC | A+ | 12 | 3.77/5 | 75.4% | 24 | Source |
| Mid America Mortgage Inc. | A+ | 66 | NA | NA | NA | Source |
| Moneyhouse | NR | 27 | NA | NA | 0 | Source |
| Movement Mortgage, LLC | A+ | 17 | 4.81/5 | 96.2% | 98 | Source |
| Mutual of Omaha Mortgage | A+ | 12 | 1.49/5 | 29.8% | 49 | Source |
| Open Mortgage LLC | A+ | 22 | 3.0/5 | 60.0% | 1 | Source |
| Plaza Home Mortgage Inc | A+ | 24 | 3.2/5 | 64.0% | 7 | Source |
| Smartfi Home Loans | A+ | 6 | NA | NA | 0 | Source |
| South River Mortgage, LLC | A+ | 6 | 3.55/5 | 71.0% | 12 | Source |
BBB Rating: Better Business Bureau rating (A+ to F; NR = Not Rated).
Star Rating: Average customer rating out of 5 stars.
Good Review %: Percentage of reviews classified as positive.
Source: Data compiled from national rankings of top 20 HECM (Home Equity Conversion Mortgage) lenders by RMInsight (https://www.rminsight.net/wp-content/uploads/2025/05/Lenders_202504.pdf). BBB Reviews updated as of May 28, 2025.
Latest Massachusetts Reverse Mortgage StatisticsState Stats
| State | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Lenders in Massachusetts | Avg. Home Value |
|---|---|---|---|---|
| Massachusetts | 933,400 | 525 | 20 | $399,600 |
Loan Type: HECM Standard Loans Originated in California
Performance Period: Loans endorsed between January 1, 2024, and December 31, 2024
Note: Includes all HECM Standard cases within the specified endorsement period.
Massachusetts Reverse Mortgage Lending Limits
Massachusetts, the 15th most populous state in the U.S., is home to approximately 7 million people as of 2024, with the majority of residents living in the Boston metropolitan area. About 1.2 million residents are aged 62 and older, making a substantial portion of the population eligible for a reverse mortgage.
Home Values and Reverse Mortgage Opportunities
As of January 2025, the median home value in Massachusetts is approximately $419,321. This is well within the federal reverse mortgage lending limit of $1,209,750, 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 $1,209,750, 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.
HUD-Approved Reverse Mortgage Counseling Agencies in Massachusetts
| Name | Agency ID | Address | Phone | Web Site |
|---|---|---|---|---|
| AMERICAN CONSUMER CREDIT COUNSELING | 82426 | 130 RUMFORD AVE STE 202 AUBURNDALE, MA 02466-1370 | (800) 769-3571 | http://www.consumercredit.com |
| CAMBRIDGE CREDIT COUNSELING CORPORATION | 81323 | 67 HUNT ST AGAWAM, MA 01001-1920 | (800) 757-1788 | https://www.cambridge-credit.org/ |
| COMMUNITY SERVICE NETWORK, INC. | 81850 | 136 ELM ST STONEHAM, MA 02180-3426 | (781) 438-9254 | https://communityservicenetwork.godaddysites.com/ |
| HOUSING ASSISTANCE CORP. | 81407 | 460 W MAIN ST HYANNIS, MA 02601-3855 | (508) 771-5400 | http://www.haconcapecod.org |
| NEIGHBORHOOD HOUSING SERVICES OF THE SOUTH SHORE DBA NEIGHBORWORKS HOUSING SOLUTIONS | 82309 | 422 WASHINGTON ST QUINCY, MA 02169-5715 | (617) 770-2227 | http://www.nhsmass.org |
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
