Top Reverse Mortgage Lenders in Missouri
| Lender | Rating | Years in Business | Stars (0-5) | Good Review % | Complaints | BBB Review |
|---|---|---|---|---|---|---|
| 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% | 13 | Source |
| Ennkar Inc. | A+ | 14 | 4.00/5 | 80.0% | 2 | Source |
| Fairway Independent Mortgage | A+ | 28 | 4.4355 | 87.0% | 35 | Source |
| Finance of America Reverse LLC (FAR) | A+ | 21 | 1.00/5 | 20.0% | 30 | Source |
| GoodLife Home Loans | A+ | 12 | 4.43/5 | 88.6% | 0 | Source |
| Guild Mortgage Company (Formerly Cherry Creek LLC) | A+ | 64 | 1.36/5 | 27.2% | 34 | Source |
| HighTechLending Inc | A+ | 18 | 4.93/5 | 98.6% | 0 | Source |
| Liberty Home Equity Solutions Inc. | A+ | 21 | 1.00/5 | 20.0% | 2 | Source |
| Longbridge Financial LLC | A+ | 12 | 3.78/5 | 75.6% | 19 | Source |
| Mid America Mortgage Inc. | A+ | 66 | NA | NA | NA | Source |
| Moneyhouse | NR | 27 | NA | NA | 0 | Source |
| Movement Mortgage, LLC | A+ | 17 | 4.80/5 | 95.6% | 109 | Source |
| Mutual of Omaha Mortgage | A+ | 11 | 3.92/5 | 78.4% | 45 | Source |
| Open Mortgage LLC | A+ | 21 | 2.60/5 | 52.0% | 1 | Source |
| Plaza Home Mortgage Inc | A+ | 24 | 2.47/5 | 49.4% | 13 | Source |
| Smartfi Home Loans | A+ | 5 | NA | NA | 0 | Source |
| South River Mortgage, LLC | A+ | 5 | 3.16/5 | 63.2% | 15 | Source |
Missouri Reverse Mortgage Facts
| State | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Purchase Reverse Mortgages Closed Last 12 Months | Lenders in Missouri | Avg. Home Value |
|---|---|---|---|---|---|
| Missouri | 57,643 | 726 | 64 | 74 | $240,129 |
Missouri Reverse Mortgage Lending Limits
Missouri is the 18th most populous state in the United States and the 21st largest by land area. As of 2024, the state is home to around 6.17 million people, with the highest populations concentrated around the St. Louis and Kansas City metropolitan areas. Missouri has approximately 1.24 million residents aged 62 or older, many of whom may be eligible for a reverse mortgage. Homeownership remains strong, with around 66.1% of the state’s population owning their homes.
Historical and Cultural Significance
Missouri has a rich history, first inhabited by indigenous tribes for thousands of years. French settlers claimed the area in the 1600s, establishing it as part of New France. After a brief period of Spanish control in the late 1700s, the territory was sold back to France before becoming part of the Louisiana Purchase in 1803. Missouri joined the United States as the 24th state in 1821.
Missouri’s political landscape has often been divided, especially during the Civil War, when the state supported both the Union and Confederacy, contributing to its reputation as a “purple” state in modern politics.
Key Cities and Economic Drivers
Kansas City, Missouri’s most populous city, is home to approximately 509,297 people (2024). Its metro area includes 2.17 million residents. The city is known for its cultural and culinary significance, particularly for having more barbecue restaurants per capita than any other U.S. city. St. Louis, with a metro population of 2.8 million, is famous for its Gateway Arch, the tallest manmade monument in the U.S., and is the headquarters of Anheuser-Busch, one of the nation’s largest brewing companies.
Other major cities include Springfield and Columbia. Missouri’s economy thrives on industries like transportation equipment, beer and beverage production, and defense and aerospace technology. Several Fortune 500 companies are based here, including Express Scripts, Centene, and Emerson Electric.
Missouri’s Climate
Missouri experiences four distinct seasons, classified as a continental climate. Summers can be hot and humid, with average highs of 88°F in July, while winters are cold, with average lows of 21°F in January. Thunderstorms and tornadoes are common in the spring and early summer, especially in the state’s southern regions.
Reverse Mortgage Opportunities in Missouri
As of January 2024, the average home value in Missouri is $239,700, well below the federal reverse mortgage lending limit of $1,209,750. This means many Missouri homeowners are eligible to access a HECM (Home Equity Conversion Mortgage) loan. For homeowners with higher-valued properties, jumbo reverse mortgage programs allow them to borrow above the federal limit.
Missouri Approved Reverse Mortgage Counseling Agencies
| Name | Agency ID | Address | Phone | Web Site |
|---|---|---|---|---|
| CREDIT & HOMEOWNERSHIP EMPOWERMENT SERVICES, INC. | 80676 | 3125 GILLHAM PLAZA KANSAS CITY, MO 64109-1711 | (816) 533-7417 | www.chesinc.org |
| HOUSING OPTIONS PROVIDED FOR THE ELDERLY (H.O.P.E) | 80342 | SUITE 100 7300 DARTMOUTH AVE UNIVERSITY CITY, MO 63130-2904 | (844) 432-6467 | http://HECMHOPE.org |
| HOUSING OPTIONS PROVIDED FOR THE ELDERLY(HOPE) | 90300 | 7300 DARTMOUTH AVE STE 100 UNIVERSITY CITY, MO 63130-2904 | (314) 776-0155 | http://HECMHOPE.org |
Did you know? Missouri 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 Missouri
HUD.GOV Approved Lenders Search
