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Compare Nevada's Best Reverse Mortgages

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In your current area homeowners are currently utilizing reverse mortgages to better enhance their retirement years, with nationwide!
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The minimum qualifying age for a reverse mortgage is 55. If you are within 6 months from your next birthday, I will automatically calculate you a year older.
Tip! Don’t forget to include your spouse’s age, even if they are not yet 55, as loan proceeds are always based on the age of the youngest spouse.
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 Top 10 Reverse Mortgage Lenders in Nevada

Lender Rating Experience Stars (0-5) Good Reviews Complaints BBB
American Advisors Group (AAG) A- 18 Yrs. 4.66 93% 98 Source
Cherry Creek Mortgage, LLC A+ 36 Yrs. 3.75 75% 6 Source
Fairway Independent Mortgage A+ 27 Yrs. 4.96 99% 51 Source
Finance of America Reverse LLC (FAR) A+ 19 Yrs. 1.67 33% 15 Source
Liberty Home Equity Solutions Inc. A+ 19 Yrs. 2.00 40% 2 Source
Longbridge Financial LLC A+ 10 Yrs. 3.94 78% 15 Source
Mutual of Omaha Mortgage A+ 10 Yrs. 4.85 97% 47 Source
Open Mortgage LLC A+ 20 Yrs. 2.44 48% 1 Source
Reverse Mortgage Funding LLC A+ 10 Yrs. 4.23 84% 25 Source
Reviews Updated: 5/30/2023
The BBB is one of the last review sites that does not accept monetary influence in their ratings or posted reviews.
 

 

Nevada Reverse Mortgage Facts

StateHomeowners Age 62+Reverse Mortgages Closed Last 12 MonthsPurchase Reverse Mortgages Closed Last 12 MonthsLenders in NevadaAvg. Home Value
Nevada67,61945996154$432,600 

 

Nevada Lending Limits

Nevada Facts

Nevada is the 33rd most populous state in the nation and the seventh largest in terms of land area. About 2,998,039 people called the state home in 2017, and most of them live around Las Vegas. Of the state’s total population, 496,565 were estimated to be 62 and older in 2016. About 55% of the population is a homeowner.

Multiple native tribes inhabited this land for at least 10,000 years before Europeans came. The Spanish were the first new explorers and claimed the area as part of New Spain. It later became part of Mexico when the country gained independence in 1821. The territory changed hands to the U.S. following the Mexican-American War. Nevada became the 36th state in 1864.

Las Vegas is the largest city in the state, with more than 2 million residents in its metro area. Once a desert town for ranchers and railroad workers, it quickly became known for its casinos and quick marriages and divorces in the first half of the 1900s. Today, it brings in millions of tourists every year for gambling, entertainment, and other thrills. Among those from Vegas are tennis star Andre Agassi and the rock band the Killers.

Much of Nevada is desert, and it is known as the driest state in the U.S. The average high is 90 degrees Fahrenheit and the average low is 22 degrees Fahrenheit. In the west the summers are short and hot, but the winters do not get very cold.The south has, hot, long summers, and winters are short and mild. Extreme temperatures have spiked at 120 degrees Fahrenheit and dipped to negative 50 degrees Fahrenheit.

Outside of the Las Vegas metro area, which boasts many of the biggest cities in the state, the next largest city is Reno. A literal goldmine, Nevada is one of the largest producers in the world of this precious metal. Las Vegas’ thriving tourism is the basis for many the largest companies in the state, such as MGM Resorts International and Las Vegas Sands. Johnson Electric is the third largest.

The average home value in the state is $432,600,  below the federal maximum reverse mortgage lending limit of $1,089,300 that applies to all HECM loans. For more borrowing power above the federal limit, there are jumbo reverse mortgage programs available.

 

Nevada Approved Reverse Mortgage Counseling Agencies

No agencies currently available

Did you know? Nevada 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 Nevada
HUD.GOV Approved Lenders Search

Nevada Reverse Mortgages
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