Top 10 Reverse Mortgage Lenders in Missouri
*Source: BBB Lender Ratings as of 12-23-2018
|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%||41||Review Source
|Reverse Mortgage Funding LLC||09/25/2012||A+ ||3.2||64%||3||Review Source
|Live Well Financial, Inc.||08/28/2008 ||A+||2.1||17%||9||Review Source
|One Reverse Mortgage, LLC||07/12/2001||A+ ||3.2||60%||5||Review Source
|Liberty Home Equity Solutions, Inc.||09/05/2003||A+ ||2.7||40%||5||Review Source
|HighTechLending Inc||06/06/2006||C+ ||2.3||0%||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 Missouri'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 Missouri.
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 MO 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
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
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 Missouri 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.
Missouri Lending Limits
Missouri is the 18th most populous state in the country and the 21st largest in terms of land area. As of 2017, approximately 6,113,532 residents lived in the state, with the biggest populations settled around the St. Louis and Kansas City metropolitan areas. About 1,234,289 people in Missouri were aged 62 or older in 2017, and 66.1% of the state’s residents are homeowners.
Indigenous tribes inhabited this area for thousands of years before before the French came in the 1600s, setting up the land as New France. Although it was briefly under Spanish control in the late 1700s, it was back under French power when it was sold to the U.S. as part of the Louisiana Purchase in 1803. Missouri became the 24th state in the nation in 1821.
Still largely considered a purple state politically, Missouri’s political divide began years ago, with the state supporting both the Union and Confederacy in the Civil War.
Kansas City is the most populous city in Missouri, with 488,943 residents in the city and 2,159,159 in the metropolitan area as of 2017. The city boasts more barbeque restaurants per capita than anywhere else in the U.S. St. Louis’ metro area is even larger with 2,807,338 people. Known as the “Gateway to the West”, St. Louis is home to Anheuser Busch brewing company, and the Gateway Arch, which is the tallest manmade monument in the country. Famous residents of Missouri include Mark Twain, Mad Men star Jon Hamm, and rapper Nelly.
Very defined seasons are a hallmark of Missouri and the state’s climate is classified as continental. Summers are hot and humid, and winters are cold, with occasional snow. Summers bring thunderstorms and with tornado season from spring to early summer. The average high is 88 degrees Fahrenheit in July and the average low is 21 degrees Fahrenheit in January.
Outside of Kansas City and St. Louis, the biggest cities are Springfield and Columbia. The state is a leading producer of transportation equipment, beer and beverages, and defense and aerospace technology. The state’s Fortune 500 companies include Express Scripts, Centene, and Emerson Electric.
The average home value in the state is $153,800, and prices are expected to rise an additional 5.3% 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 Missouri, 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.