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Compare Ohio's Best Reverse Mortgages

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The minimum qualifying age for a reverse mortgage is 62. 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 62, as loan proceeds are always based on the age of the youngest spouse.
Your Age
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 Top 10 Reverse Mortgage Lenders in Ohio

Lender Name Years in Business Rating Stars (0-5.0) Positive Reviews Complaints BBB Reviews
Longbridge Financial, LLC 6 A+ 3.5 70% 2 Source
American Advisors Group (AAG) 14 A- 4.1 82% 53 Source
Reverse Mortgage Funding LLC 6 A+ 3.0 50% 8 Source
One Reverse Mortgage, LLC (QUICKEN)
11 A+ 3.0 50% 3 Source
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
*Source: Lender Ratings as of 04/12/2020

 

Ohio Reverse Mortgage Facts

StateHomeowners Age 62+Reverse Mortgages Closed Last 12 MonthsPurchase Reverse Mortgages Closed Last 12 MonthsLenders in OhioAvg. Home Value
Ohio146,4973582046$144,200

 

Ohio Lending Limits

The Buckeye state has a population of 11,689,442 and 863,528 of those people are homeowners age 62 and older, which means almost one million people may be eligible for a reverse mortgage.

The median home value in Ohio is $144,200, which is much lower than the HECM reverse mortgage lending limit of $765,600.

The 17th century brought the Iroquois tribe west from what is now New York to the present-day Ohio near the Ohio River, named from the Iroquois word “Ohiyo,” translated as “the great river.” In 1788, Revolution War veterans led by Rufus Putnam established Marietta, Ohio’s first European settlement, the oldest white settlement in the U.S. Fifteen years later, in 1803, Ohio became the 17th state of the Union.

In 1816, the state legislature incorporated the city of Columbus and named it the state’s capital due to its centralized location and proximity to transportation. Today, with nearly 880,000 residents, Columbus is Ohio’s largest city and home to Ohio State University, the third largest public university in the United States. The second largest city in Ohio is Cleveland, known today for its professional sports teams, the Rock & Roll Hall of Fame and pop culture hits Major League, The Drew Carey Show and Bone Thugs-N-Harmony

Similar to its politics and location in the country, Ohio’s climate is dead center in the U.S. Its average temperature is 50.7 degrees Fahrenheit, ranking 26th of 50 states. Though the state’s record temperatures were -39 degrees (in 1899) and a scorching 113 (in 1934), the state typically sees a temperate climate even while experiencing all four seasons.

Along with Columbus and Cleveland, the largest cities in Ohio are Cincinnati, Toledo, Akron and Dayton. The state’s economy improved significantly since 2011, up 20 spots in Forbes Magazine’s Best States for Business rankings. Fast food giant Arby’s was founded in Ohio, and the state’s largest companies today are Kroger, Macy’s and Convergys.

The average home value in the state is $133,200, and prices are expected to rise an additional 6.4% in the next year. Given this average, many homes fall below the federal maximum reverse mortgage lending limit of $636,150 that applies to all HECM loans. For

 

Ohio Reverse Mortgage Counseling Agencies

Agency NamePhoneAddressWebsiteAgency IDLanguages
COLUMBUS HOUSING PARTNERSHIP, INC, DBA HOMEPORT614-221-88893443 Agler Rd
Columbus, Ohio 43219-3385
www.homeportohio.org80842English
Spanish
COUNTYCORP937-853-1600130 W 2nd St Ste 1420
Dayton, Ohio 45402-1502
www.homeownershipdayton.org81033English
APPRISEN - CCCS OF CENTRAL OHIO, INC.614-552-2222690 Taylor Rd Ste 150
Gahanna, Ohio 43230-3521
www.apprisen.com80937English
Spanish

Did you know? California state does not mandate in-person counsleing. 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 Ohio
HUD.GOV Approved Lenders Search

 

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Ohio Reverse Mortgages
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