Compare Ohio's Best Reverse Mortgages
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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)
|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|
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 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 Name||Phone||Address||Website||Agency ID||Languages|
|COLUMBUS HOUSING PARTNERSHIP, INC, DBA HOMEPORT||614-221-8889||3443 Agler Rd|
Columbus, Ohio 43219-3385
|COUNTYCORP||937-853-1600||130 W 2nd St Ste 1420|
Dayton, Ohio 45402-1502
|APPRISEN - CCCS OF CENTRAL OHIO, INC.||614-552-2222||690 Taylor Rd Ste 150|
Gahanna, Ohio 43230-3521
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.