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Home / Lenders / Reverse Mortgage Lenders, Michigan

Compare Michigan's Best Reverse Mortgages

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From America's #1 Rated Reverse Mortgage Lender

 Top 10 Reverse Mortgage Lenders in Michigan

Lender NameCompany Start Date Lender Rating Review Stars (0-5.0)% of Positive Reviews# of Complaints Last 3 Yrs.BBB Reviews
All Reverse Mortgage, Inc. 05/27/2004A+5.0100%2Review Source
American Advisors Group (AAG)10/29/2004A- 4.182%41Review Source
Reverse Mortgage Funding LLC09/25/2012A+ 3.264%3Review Source
Live Well Financial, Inc.08/28/2008 A+2.117%9Review Source
One Reverse Mortgage, LLC07/12/2001A+ 3.260%5Review Source
Liberty Home Equity Solutions, Inc.09/05/2003A+ 2.740%5Review Source
HighTechLending Inc06/06/2006C+ 2.30%2Review Source
Reverse Mortgage Solutions, Inc.02/21/2007F 1.051%86Review Source
Synergy One Lending, Inc. (Retirement Funding Solutions)01/09/2013 A+N/AN/A1Review Source
Finance of America Reverse LLC10/15/2003A+ N/AN/A3Review Source
*Source: BBB Lender Ratings as of 12-23-2018

All Reverse Mortgage® is proud to be Michigan'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 Michigan.

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 MI 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

Michigan Reverse Mortgage Facts

StateHomeowners Age 62+Reverse Mortgages Closed Last 12 MonthsPurchase Reverse Mortgages Closed Last 12 MonthsLenders in MichiganAvg. Home Value
Michigan37,65421719112$144,600

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.
 

All Reverse Mortgage® originates in Michigan and offers several reverse mortgage options. In some instances, borrowers are looking to pay off their existing loan and eliminate their monthly mortgage payment. Or, if they already have paid off their mortgage, a reverse loan can help borrowers utilize their equity for other purposes. In some cases, borrowers can do both. They also may use a specific type of reverse mortgage to purchase a new home.

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.

Michigan Lending Limits

Michigan facts
Michigan is the tenth-most populous state in the nation and the 11th largest in terms of land size. Overall, an estimated 9,962,311 people live in the state, with about half of the state’s population residing in the Detroit metro area. As of 2017, Michigan was home to 1,687,274 residents aged 62 and older, and 72.9% of the population owned their own home.

After being occupied by native tribes for thousands of years, French explorers settled the area in the late seventeenth century as part of New France. Over the next couple centuries, the area fell under British control, became an incorporated territory of the U.S., and finally was established as the 26th state in 1837. Seventeen years later, the first Republican party meeting was held in Jackson, Mi.

The state’s biggest city is Detroit, with it metropolitan area home to about 4.275 million residents as of 2015. Once an important shipping and fur trading post, “Motor City” went on to become the birthplace of America’s automobile industry and Motown Records. It also ranks first in the country for potato chip consumption per capita.  

The “Great Lakes State” is made up of two peninsulas: the upper peninsula and the mitten-shaped lower peninsula. It’s no surprise that water activities, like boating and fishing, are popular in Michigan. The state touches four out of five great lakes and is home to 11,000 inland lakes and 36,000 miles of rivers and streams.

Outside of the Detroit area, the biggest cities in the state are Grand Rapids, Lansing, and Ann Arbor. The state’s economy has improved steadily over the last ten years, and the state’s manufacturing, tourism, and agriculture industries lead the economy. Not surprisingly, the three largest companies in Michigan are vehicle related: General Motors, Ford, and Enstrom Helicopter.

Michigan enjoys all four seasons and its climate is described as temperate. Its average high temperature in July is 82 degrees Fahrenheit and its average low temperature is 30 degrees Fahrenheit in January. Far northern areas see the most snow in winter and heavy thunderstorms are typical in the southern part of the lower peninsula.

The average home value in the state is $144,600, and prices are expected to rise an additional 9.6% 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 Michigan, 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.

Michigan Approved Reverse Mortgage Counseling Agencies

Agency NamePhoneAgency IDAddressLanguagesWebsite
GREENPATH, INC.888-860-41678487136500 Corporate Drive
FARMINGTON HILLS, Michigan 48331-3553
English
Spanish
www.greenpath.org
METRO COMMUNITY DEVELOPMENT, INC.810-767-462280990503 S Saginaw St Ste 804
Flint, Michigan 48502-1807
English
www.metro-community.org
GREENPATH FINANCIAL WELLNESS888-860-4167806073501 Lake Eastbrook Blvd SE
Suite 222
Grand Rapids, Michigan 49546-5938
English
Spanish
www.greenpath.org
HOME REPAIR SERVICES OF KENT COUNTY616-241-2601824561100 Division Ave S
Grand Rapids, Michigan 49507-1024
English
Spanish
www.homerepairservices.org
CENTER FOR FINANCIAL HEALTH517-708-2550836053815 W Saint Joseph St Ste C200
Lansing, Michigan 48917-3671
English
www.centerforfinancialhealth.org
GREENPATH FINANCIAL WELLNESS888-860-416782302250 Elizabeth Lake Rd Ste 1900
Pontiac, Michigan 48341-1035
English
Spanish
www.greenpath.org
OAKLAND COUNTY HOUSING COUNSELING248-858-118980711250 Elizabeth Lake Rd Ste 1900
Pontiac, Michigan 48341-1035
English
www.oakgov.com/chi
GREENPATH FINANCIAL WELLNESS888-860-4167820073210 Racquet Club Dr
Suite A
Traverse City, Michigan 49684-4704
English
Spanish
www.greenpath.org

Did you know? Michigan 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:
Top 10 Lender Reviews & Ratings
Reversemortgage.org NRMLA Members in Michigan
HUD.GOV Approved Lenders Search

Our Exclusive Programs Designed to Fit Your Needs.

All Reverse Mortgage© has consistently brought exclusive offers to our valued Michigan 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
*Complete form above to receive a comparison of all available programs. Excludes state taxes when applicable. Min loan amount for $0 origination fee is $40,000. *APR ran at $185,000 loan amount / 60% or less PLF utilization. Lifetime rate cap on all adjustable rate plans just 5% over the start rate.

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

It may surprise you but those "celebrities" you see all over TV have some of the worst independent consumer ratings in the industry. Compare us and you will see the crystal-clear difference, from customer service to loan terms we never compromise.

HUD approved direct lender.

Working with a local Michigan 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!"

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Michigan Reverse Mortgages
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