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Compare New Mexico's Best Reverse Mortgages
Compare New Mexico's Best Reverse Mortgages
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New Mexico's #1 Reverse Mortgage

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In your current area 100 homeowners are currently utilizing reverse mortgages to better enhance their retirement years, with 500,000 nationwide!

The amount you receive is based on your home’s value, your age, and current interest rates. Let’s start with your address so I can estimate your home value…
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If you feel this estimate is not correct you can manually change it below. If you have an existing mortgage balance, I'll need to know the amount we are going to pay off to get rid of that mortgage payment!

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If you presently have an existing mortgage balance, I'll need to know the amount we are going to pay off to get rid of that mortgage payment!
(Our calculations use estimated property values provided by Estated.com. An independent HUD-approved appraiser must complete an appraisal to finalize your loan)
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The minimum qualifying age for a reverse mortgage is 55

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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Your personalized results include the best of 2024's reverse mortgages
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  • Real-time interest rates
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2021 BBB Torch Award Finalist
Best Reverse Mortgage Lender
Best Reverse Mortgage Website
Best Reverse Mortgage Website

 Top Reverse Mortgage Lenders in New Mexico

LenderRatingYears in BusinessStars (0-5)Good Review %ComplaintsBBB Review
Advisors Mortgage GroupA+252.00/540.0%5Source
American Advisors Group (AAG)A194.69/593.8%56Source
American Pacific MortgageF281.75/535.0%13Source
Ennkar Inc.A+144.00/580.0%3Source
Fairway Independent MortgageA+284.41/588.2%37Source
Finance of America Reverse LLC (FAR)A+211.00/520.0%22Source
GoodLife Home LoansA+124.43/588.6%0Source
Guild Mortgage Company (Formerly Cherry Creek LLC)A+641.36/527.2%39Source
HighTechLending IncA+184.93/598.6%0Source
Liberty Home Equity Solutions Inc.A+211.00/520.0%3Source
Longbridge Financial LLCA+123.94/578.8%18Source
Mid America Mortgage Inc.A+653.00/560.0%0Source
MoneyhouseNR27NANA0Source
Movement Mortgage, LLCA+174.80/595.6%109Source
Mutual of Omaha MortgageA+114.61/592.2%45Source
Open Mortgage LLCA+212.60/552.0%1Source
Plaza Home Mortgage IncA+232.38/547.6%17Source
Smartfi Home LoansA+5NANA0Source
South River Mortgage, LLCA+52.62/552.4%15Source
This chart compares the top 20 reverse mortgage lenders in the U.S. based on national rankings, displaying key metrics such as their BBB (Better Business Bureau) rating, years in business, average star rating, percentage of positive reviews, number of complaints, and sources of reviews. Top 20 HECM lenders reported by https://www.rminsight.net/wp-content/uploads/2024/06/Lenders_202405.pdf. (Reviews Updated: October 22, 2024).

New Mexico Reverse Mortgage Facts

StateHomeowners Age 62+Reverse Mortgages Closed Last 12 MonthsPurchase Reverse Mortgages Closed Last 12 MonthsLenders in New MexicoAvg. Home Value
New Mexico34,659 1821765$293,540

New Mexico Reverse Mortgage Lending Limits

New Mexico is the 36th most populous state in the U.S. and the 5th largest in terms of land size. As of 2024, approximately 2.1 million people reside in the state, with around 352,883 residents being aged 65 and older. About 66.6% of New Mexicans are homeowners, creating a large potential population that could benefit from reverse mortgage opportunities.

Historical and Cultural Overview

New Mexico is known for its rich Native American heritage, with archaeological evidence showing habitation dating back to 9200 BC. The Pueblo people were well-established in the region by the time Spanish explorers arrived in the late 1500s. Over the next 200 years, the area changed hands from Spain to Mexico and eventually to the United States following the Mexican-American War. New Mexico became the 47th state in 1912.

Key Cities and Economic Overview

Albuquerque, the largest city in the state, boasts a population of 555,400 as of 2024. Known for its famous International Balloon Fiesta, the city is situated along the Rio Grande River and was originally founded as a Spanish outpost in the early 1700s. The city has seen significant growth since the 1960s, bolstered by its proximity to Route 66 and atomic research laboratories. Microsoft even got its start here in the 1970s, and the city gained international recognition as the filming location for Breaking Bad.

Other major cities include Las Cruces, Rio Rancho, and Santa Fe, the state’s capital and a haven for artists. Santa Fe is the oldest state capital in the U.S., founded in 1608. Nearby, Los Alamos is known as the birthplace of the atomic bomb, while Roswell is famed for its connection to UFO sightings. New Mexico’s economy thrives on oil and gas production, tourism, film, and retail, with federal government employers such as Sandia National Laboratories and the military playing significant roles. The largest employers in the state include Los Alamos National Security LLC, University of New Mexico, and New Mexico State University.

Climate and Lifestyle

New Mexico’s climate is a blend of arid and semi-arid continental, with wide-ranging terrain from mountains to deserts. Weather can vary significantly across the state. Some areas receive less than 10 inches of rainfall annually, while others get over 20 inches. Snowfall can range from three inches to over 100 inches depending on the location. The state experiences hot summers, with an average high of 86°F in July, and cold winters, with an average low of 17°F in January.

Reverse Mortgage Opportunities in New Mexico

As of January 2024, the average home value in New Mexico is $186,600, and home prices are expected to increase by another 2% in the coming year. Many homes in New Mexico fall under the federal maximum reverse mortgage lending limit of $1,149,825, making most properties eligible for HECM (Home Equity Conversion Mortgage) loans. For homeowners with higher-value homes, jumbo reverse mortgage programs are available, allowing for increased borrowing power beyond the federal limit.

New Mexico Approved Reverse Mortgage Counseling Agencies

NameAgency IDAddressPhoneWeb Site
MONEY MANAGEMENT INTERNATIONAL - ALBUQUERQUE, NM - CENTRAL82684SUITE 107
2727 SAN PEDRO DR NE
ALBUQUERQUE, NM 87110-3368
(866) 232-9080http://www.moneymanagement.org
SANTA FE COMMUNITY HOUSING TRUST82669STE 101
6005 JAGUAR DR
SANTA FE, NM 87507-1719
(505) 412-2888http://www.housingtrustonline.org

Did you know? New Mexico 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 New Mexico
HUD.GOV Approved Lenders Search

Author Michael Branson
About the Author, Michael G. Branson | Mike@allreverse.com
Michael G. Branson CEO, All Reverse Mortgage, Inc. and moderator of ARLO™ has 45 years of experience in the mortgage banking industry. He has devoted the past 19 years to reverse mortgages exclusively.
New Mexico Reverse Mortgages
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