Top Reverse Mortgage Lenders in Ohio
| Lender | Rating | Years in Business | Stars (0-5) | Good Review % | Complaints | BBB Review |
|---|---|---|---|---|---|---|
| All Reverse Mortgage, Inc. (ARLO) | A+ | 20 | 4.99/5 | 99.8% | 0 | Source |
| Advisors Mortgage Group | A+ | 24 | 1.80/5 | 36.0% | 5 | Source |
| American Advisors Group (AAG) | A | 19 | 4.70/5 | 94.0% | 61 | Source |
| American Pacific Mortgage | F | 28 | 1.75/5 | 35.0% | 13 | Source |
| Ennkar Inc. | A+ | 14 | 4.00/5 | 80.0% | 3 | Source |
| Fairway Independent Mortgage | A+ | 28 | 4.43/5 | 88.6% | 38 | Source |
| Finance of America Reverse LLC (FAR) | A+ | 20 | 1.00/5 | 20.0% | 21 | Source |
| GoodLife Home Loans | A+ | 12 | 4.43/5 | 88.6% | 0 | Source |
| Guild Mortgage Company (Formerly Cherry Creek LLC) | A+ | 64 | 1.36/5 | 27.2% | 41 | Source |
| HighTechLending Inc | A+ | 18 | 4.93/5 | 98.6% | 0 | Source |
| Liberty Home Equity Solutions Inc. | A+ | 21 | 1.00/5 | 20.0% | 3 | Source |
| Longbridge Financial LLC | A+ | 12 | 3.95/5 | 79.0% | 17 | Source |
| Mid America Mortgage Inc. | A+ | 65 | 3.00/5 | 60.0% | 0 | Source |
| Moneyhouse | NR | NA | NA | NA | 0 | Source |
| Movement Mortgage, LLC | A+ | 17 | 4.80/5 | 95.6% | 111 | Source |
| Mutual of Omaha Mortgage | A+ | 11 | 4.72/5 | 94.4 | 52 | Source |
| Open Mortgage LLC | A+ | 21 | 2.60/5 | 52.0% | 1 | Source |
| Plaza Home Mortgage Inc | A+ | 23 | 2.29/5 | 45.8% | 18 | Source |
| Smartfi Home Loans | A+ | 5 | NA | NA | 0 | Source |
| South River Mortgage, LLC | A+ | 5 | 2.43/5 | 48.6% | 15 | Source |
Ohio Reverse Mortgage Facts
| State | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Purchase Reverse Mortgages Closed Last 12 Months | Lenders in Ohio | Avg. Home Value |
|---|---|---|---|---|---|
| Ohio | 146,497 | 570 | 20 | 46 | $220,031 |
Ohio Lending Limits
Ohio, known as the Buckeye State, is home to nearly 11.7 million people. Among them, over 860,000 homeowners are aged 62 and older, making a significant portion of the population potentially eligible for a reverse mortgage.
The median home value in Ohio is $220,400, which is well below the federal maximum reverse mortgage lending limit of $1,149,825 for Home Equity Conversion Mortgages (HECM). This means that most homeowners in Ohio can take full advantage of a reverse mortgage if they choose to access the equity in their homes.
Ohio’s rich history dates back to the 17th century when the Iroquois tribe moved westward from present-day New York to the Ohio River area, which they named “Ohiyo,” meaning “the great river.” Ohio’s first European settlement was Marietta, established in 1788 by Revolutionary War veterans. Ohio became the 17th state in the Union in 1803, and Columbus, now the state capital, was incorporated in 1816 due to its central location.
Today, Columbus is Ohio’s largest city, with nearly 880,000 residents, and is home to Ohio State University, one of the largest public universities in the country. Cleveland, the second-largest city, is famous for its professional sports teams and the Rock & Roll Hall of Fame. Other major cities in Ohio include Cincinnati, Toledo, Akron, and Dayton.
Ohio’s climate is moderate, experiencing all four seasons, with an average temperature of 50.7 degrees Fahrenheit. While the state has seen extreme temperatures in the past, it typically enjoys a temperate climate throughout the year.
Ohio’s economy has seen significant improvement since 2011, with the state climbing 20 spots in Forbes Magazine’s Best States for Business rankings. Some of the largest companies in Ohio include Kroger, Macy’s, and Convergys.
Given the average home value in Ohio, which is $133,200, many homes fall well below the federal reverse mortgage lending limit. This means that most Ohio homeowners can benefit from the HECM program, and for those with higher-valued homes, jumbo reverse mortgage programs are available to provide even more borrowing power.
Other Areas of Interest in Ohio
Akron Cincinnati Cleveland Columbus Dayton Toledo
Ohio Approved Reverse Mortgage Counseling Agencies
| Name | Agency ID | Address | Phone | Web Site |
|---|---|---|---|---|
| CHN HOUSING PARTNERS | 80841 | SUITE 134 2999 PAYNE AVE STE 134 CLEVELAND, OH 44114-4436 | (216) 881-8443 | https://www.chnhousingpartners.org |
| GREENPATH FINANCIAL WELLNESS | 90157 | 2465 EXECUTIVE PARK BLVD FAIRBORN, OH 45324-6219 | (888) 860-4167 | http://www.greenpath.org |
Did you know? California does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies, and you can conduct your required counseling from the comfort of your home.
Additional Resources:
Reversemortgage.org NRMLA Members in Ohio
HUD.GOV Approved Lenders Search
