Compare Nebraska's Best Reverse Mortgages
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Top 10 Reverse Mortgage Lenders in Nebraska
|Lender Name||Years in Business||Rating||Stars (0-5.0)||Positive Reviews||Complaints||BBB Reviews|
|All Reverse Mortgage, Inc. (ARLO)||15||A+||4.9||99%||1||Source|
|American Advisors Group (AAG)||14||A-||4.1||82%||53||Source|
|Longbridge Financial, LLC||6||A+||3.5||70%||2||Source|
|Reverse Mortgage Funding LLC||6||A+||3.0||50%||8||Source|
|One Reverse Mortgage, LLC (QUICKEN)
|Liberty Home Equity Solutions, Inc. (OCWEN)||15||A+||2.1||42%||2||Source|
|Retirement Funding Solutions (RFS)||9||A+||(N/A)||(N/A)||1||Source|
|Fairway Independent Mortgage||23||A+||2.1||42%||21||Source|
|HighTech Lending Inc.||13||A-||2.0||60%||2||Source|
|Finance of America Reverse LLC (FAR)||15||A+||1.0||20%||2||Source|
Nebraska Reverse Mortgage Facts
|State||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Nebraska||Avg. Home Value|
Nebraska Lending Limits
Nebraska is the 37th most populous state in the United States and the 16th largest in terms of land size. As of 2017, approximately 1,920,076 people lived in the state, with most of the population residing in a few of the state’s largest cities. About 295,691 residents in the state are age 65 and older, and about 66.1% of people in the state are homeowners.
Nebraska was home to a variety of native tribes when Europeans began to explore the land in the 1500s and 1600s. Even after the land changed hands from the French to the U.S. as part of the Louisiana Purchase, it was still used as Indian Territory where the U.S. government relocated many of the tribes. The state did not see major white settlement until the Oregon Trail and Gold Rush brought people westward in the 1850s. Nebraska became the 37th state in 1867.
Omaha is the largest city in the state with 466,893 residents. Before its establishment as a city, it was a fur trading post during the War of 1812. The city is home to multiple Fortune 500 companies and is the birthplace to famous natives like actors Marlon Brando and Fred Astaire, as well as investor Warren Buffett. It is also the birthplace of cake mix and tv dinners. Further west in Hastings, Kool-Aid was invented in 1927.
After Omaha, the largest cities in the state are its capital Lincoln and Bellevue. With a diversified economy, a few of Nebraska’s main industries are agriculture, finance and insurance, and transportation. Nebraska was ranked 4 on Forbes list of ‘Best Places to Do Business’, and it has multiple companies on the Fortune 500 list, including Berkshire Hathaway, Union Pacific, and Mutual of Omaha.
With a continental climate classification, Nebraska has four distinct seasons with large variances in temperature. The state has hot summers with an average high in July of 88 degrees Fahrenheit and very cold winters with an average low in January of 12 degrees Fahrenheit. The state is also prone to blizzards, droughts, and windstorms.
The average home value in the state is $161,200 and prices are expected to rise an additional 1.7% in the next year. Given this average, many homes fall below the federal maximum reverse mortgage lending limit of $765,600 that applies to all HECM loans. For more borrowing power above the federal limit, there are jumbo reverse mortgage programs available.
Nebraska Approved Reverse Mortgage Counseling Agencies
|Agency Name||Phone||Agency ID||Address||Languages||Website|
|HIGH PLAINS COMMUNITY DEVELOPMENT CORPORATION||308-432-4346||81530||803 E 3rd St Ste 4|
Chadron, Nebraska 69337-2855
|CREDIT ADVISORS FOUNDATION||402-393-3100||82478||1818 S. 72nd Street|
OMAHA, Nebraska 68124-1704
Did you know? Nebraska 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.