Compare Massachusetts's Best Reverse Mortgages
Top 10 Reverse Mortgage Lenders in Massachusetts
|Lender Name||Company Start Date||Lender Rating||Review Stars (0-5.0)||% of Positive Reviews||# of Complaints Last 3 Yrs.||BBB Reviews|
|All Reverse Mortgage, Inc.||05/27/2004||A+||5.0||100%||2||Review Source|
|American Advisors Group (AAG)||10/29/2004||A-||4.1||82%||46||Review Source|
|Reverse Mortgage Funding LLC||09/25/2012||A+||3.0||60%||7||Review Source|
|Live Well Financial, Inc.||08/28/2008||A+||2.1||17%||9||Review Source|
|One Reverse Mortgage, LLC (Quicken Loans Inc.)||07/12/2001||A+||4.0||80%||4||Review Source|
|Liberty Home Equity Solutions, Inc.||09/05/2003||A+||2.1||42%||2||Review Source|
|HighTechLending Inc||06/06/2006||B+||3.0||60%||2||Review Source|
|Reverse Mortgage Solutions, Inc.||02/21/2007||F||1.05||1%||86||Review Source|
|Synergy One Lending, Inc. (Retirement Funding Solutions)||01/09/2013||A+||N/A||N/A||1||Review Source|
|Finance of America Reverse LLC||10/15/2003||A+||N/A||N/A||3||Review Source|
All Reverse Mortgage® is proud to be Massachusetts's #1 Rated Reverse Mortgage Lender by the BBB with a Perfect 5.0 Stars and A+ Exemplary Rating. We currently lend in 16 states and all throughout Massachusetts.
All Reverse Mortgage was incorporated in November 2004 and as the name implies, the only loan product that All Reverse Mortgage® originates is in fact, the reverse mortgage.
We’re committed to be your lender because you deserve the best rate at the lowest price possible.
We’re a HUD Approved direct lender lending the national HECM programs and offer a suit of Non-FHA & Jumbo Reverse Mortgages to better suit homeowners in MA with higher value homes over the national 2019 lending limit of $726,525.
We welcome you to compare our reviews and our lower rates and closing costs to any other major lender! The difference is clear, and we can’t wait to show you
Massachusetts Reverse Mortgage Facts
|State||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Massachusetts||Avg. Home Value|
HUD Approved Direct Lender
HUD Approved Direct Lender
All Reverse Mortgage® is approved with the Department of Housing and Urban Development (HUD) to originate, underwrite and close the HUD Home Equity Conversion Mortgage (HECM, or “Heck-um”). The HECM is HUD’s acronym for the reverse mortgage program it administers for seniors who are 62 and older.
About All Reverse Mortgage®
The owners and management of All Reverse were part of the team that wrote and sold the first fixed rate jumbo reverse mortgage in 2008 and as such, have extensive experience in jumbo or proprietary loan programs as well. We are always looking for new products to offer to borrowers of high valued homes in the higher home priced markets that the HUD HECM may just not serve as well. Jumbo or proprietary programs typically offer lower Principal Limits as they relate to home values, though, so not all borrowers are best served with the jumbo programs available.
A seasoned originator can readily inform borrowers which program will best suit their needs and the positives and negatives of each so that the borrower can make an informed decision. It is no longer uncommon anywhere in the country for a market to be a solid HUD HECM market and then within just a short distance for a niche jumbo market to be located where there is a need for a jumbo program.
Therefore, homeowners aged 62 and above in all markets have seen that the reverse mortgage can be a very solid financial tool and many are now seeking the reverse mortgage to augment their retirement plans and not so much the mortgage of last resort. Everything from the elimination of existing mortgage payments to the line of credit that grows make reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably in their family home, but to plan for the future as well.
Massachusetts Lending Limits
Massachusetts is the 15th most populous state and is the 44th largest in terms of land size. As of 2017, the state had 6,859,819 estimated residents, and more than 80% of this population lives in the Boston metropolitan area. In 2010, Massachusetts had 1,116,677 residents over the age of 62, and the homeownership rate is at 62%.
Named for the native word “Massachuset” that means “by the range of hills”, colonization of the area took off when the Pilgrims landed in Plymouth in 1620. One of the original 13 colonies, it officially became a state in 1788.
Founded in 1630, the state’s largest city and its capital, Boston, has played heavily in American history, with events such as the ride of Paul Revere and the famous Tea Party happening there. Located just across the Charles River in Cambridge is the nation’s oldest institute of higher learning, Harvard University.
Both basketball and volleyball were invented in western Massachusetts towns in the last 1800s. The state has a long political history and is famously home to the politically prominent Kennedy family. The state also claims the world’s first chocolate chip cookie, made at the Toll House Restaurant in Whitman.
Massachusetts climate is classified as humid continental with cold winters and warm summers. Because of its location on the Atlantic, the state is susceptible to nor’easters, hurricanes, and tropical storms. The hottest day ever recorded was a toasty 107 degrees Fahrenheit on August 2, 1975, but the average high is 81 degrees Fahrenheit, and the average low is 22 degrees Fahrenheit.
After Boston, the next biggest city is Worcester, with a population of 184,542. The state’s leading industries are education, biotechnology, tourism, and financial services. As of 2018, 12 Massachusetts companies are on the national Fortune 500, including General Electric and Liberty Mutual.
The average home value in the state is $399,600, and prices are expected to rise an additional 8.7% in the next year. Given this average, many homes fall below the federal maximum reverse mortgage lending limit of $726,525 that applies to all HECM loans. For more borrowing power above the federal limit, there are jumbo reverse mortgage programs available.
If you reside in Massachusetts, All Reverse Mortgage® is here to answer your questions. Call Toll Free (800) 565-1722 – Or try ARLO™ reverse mortgage calculator that offers side-by-side program comparisons, real-time interest rates and expert recommendations.
Massachusetts Approved Reverse Mortgage Counseling Agencies
|Agency Name||Phone, Toll-Free,
|CAMBRIDGE CREDIT COUNSELING CORPORATION||Phone: 800-757-1788
Agency ID: 81323
|67 Hunt Street
AGAWAM, Massachusetts 01001-1920
|HOMEFREE - U S A|
|AMERICAN CONSUMER CREDIT COUNSELING||Phone: 800-769-3571
Agency ID: 82426
|130 Rumford Ave Ste 202
Auburndale, Massachusetts 02466-1370
||NATIONAL FOUNDATION FOR CREDIT COUNSELING, INC.|
|HOMEOWNER OPTIONS FOR MASSACHUSETTS ELDERS||Phone: 978-970-0012
Agency ID: 81073
|87 Hale Street
LOWELL, Massachusetts 01851-3340
||MON VALLEY INITIATIVE|
|PLYMOUTH REDEVELOPMENT AUTHORITY||Phone: 508-747-1620-147
Agency ID: 81840
|26 Court Street, 3rd Floor
PLYMOUTH, Massachusetts 02360-3365
|NEIGHBORHOOD HOUSING SERVICES OF THE SOUTH SHORE AKA NEIGHBORWORKS SOUTHERN MASS||Phone: 617-770-2227
Agency ID: 82309
|422 Washington St
Quincy, Massachusetts 02169-5715
|NEIGHBORHOOD REINVESTMENT CORP. DBA NEIGHBORWORKS AMERICA|
|QUINCY COMMUNITY ACTION PROGRAMS, INC.||Phone: 617-479-8181
Agency ID: 81002
|1509 Hancock St
Quincy, Massachusetts 02169-5241
|- Chinese Mandarin
|CITIZENS' HOUSING AND PLANNING ASSOCIATION, INC.|
|NUESTRA COMUNIDAD DEVELOPMENT CORPORATION||Phone: 617-989-9900
Agency ID: 81177
|56 Warren St Ste 200
Roxbury, Massachusetts 02119-3236
|NEIGHBORHOOD REINVESTMENT CORP. DBA NEIGHBORWORKS AMERICA|
|COMMUNITY SERVICE NETWORK, INC.||Phone: 781-438-5981
Agency ID: 81850
|136 Elm Street
STONEHAM, Massachusetts 02180-3426
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.
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently brought exclusive offers to our valued Massachusetts homeowners. Because of our unique process we're able to offer a better federally-insured reverse mortgage with no compromise.
Take a look at some of our program benefits that you won't find elsewhere:
|Exclusive 4.25% (5.95% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 2.98% with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Plans|
|ZERO Financed Closing Cost Plans|
|ZERO Monthly Servicing Fees on ALL programs|
How can we offer you more favorable terms?We are a direct lender approved by FHA (Federal Housing Administration) The HECM is literally all we do. All Reverse Mortgage is not just a name for us. We have a very low (almost non-existent) staff turnover and our people are experts. We don't work with Brokers, allowing us to pass the savings on to you. We don't hire "celebrity" spokespersons as we don't believe you should have to pay for a lender's expensive marketing budget with higher loan costs. We Charge Less! Check out our competition and our customer ratings. We never forget that this loan is about you and your needs and we put you first with superior service and lower costs.
All Reverse vs. the others
HUD approved direct lender.
Working with a local Massachusetts lender saves you time and money.
As an award-winning direct lender our goal remains simple; to offer you the very best terms accompanied by extraordinary customer service.
What Our Customers Are Saying
|"There was no car salesman type of protracted negotiation. All reverse got right down to a good quote without a series of incremental steps."|
|"I was surprised how easy it was to deal with an out of state company. Actually it was much easier than my previous dealings with local banks and brokers"|
|"It is a wonderful feeling to have no mortgage and extra cash in our pocket. We are very happy."|
|"Thank you to All Reverse for handling everything in an efficient and smooth way. Thoroughly appreciate everything you have done to make things easy for me."|
|"This was the smoothest mortgage process I have ever experienced! And so fast!"|