Massachusetts Top-Rated Reverse Mortgage Lenders

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
Advisors Mortgage Group	A+	25	1.00/5	20.0%	6	Source
Atlantic Avenue Mortgage LLC	B+	2	4.94/5	98.8%	2	Source
American Pacific Mortgage	F	28	2.00/5	40.0%	11	Source
Ennkar Inc.	A+	14	4.00/5	80.0%	2	Source
Fairway Independent Mortgage	A+	28	4.39/5	87.8%	31	Source
Finance of America Reverse LLC (FAR)	A+	21	1.00/5	20.0%	34	Source
GoodLife Home Loans	A+	12	5.0/5	88.6%	0	Source
Guild Mortgage Company (Formerly Cherry Creek LLC)	A+	64	1.36/5	27.2%	31	Source
HighTechLending Inc	A+	18	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	3.67/5	73.4%	21	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%	102	Source
Mutual of Omaha Mortgage	A+	11	1.48/5	29.6%	47	Source
Open Mortgage LLC	A+	22	3.0/5	60.0%	1	Source
Plaza Home Mortgage Inc	A+	24	3.2/5	64.0%	12	Source
Smartfi Home Loans	A+	5	NA	NA	0	Source
South River Mortgage, LLC	A+	5	3.53/5	70.6%	11	Source

Notes:
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. Reviews updated as of March 13, 2025.
Guild Mortgage Company: Formerly Cherry Creek LLC.

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

HECM Data source: https://entp.hud.gov/sfnw/public/
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

The information presented in this table was obtained from the U.S. Department of Housing and Urban Development (HUD) at https://answers.hud.gov/housingcounseling as of February 23rd, 2025.

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

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