Compare Ohio's Best Reverse Mortgages
Top 10 Reverse Mortgage Lenders in Ohio
|Lender Name||Company Start Date||Lender Rating||Review Stars (0-5.0)||% of Positive Reviews||# of Complaints Last 3 Yrs.|
|All Reverse Mortgage, Inc.||15||A+||5.0||99%||2|
|American Advisors Group (AAG)||14||A-||4.1||82%||50|
|Longbridge Financial, LLC||6||A+||3.5||70%||2|
|Reverse Mortgage Funding LLC||6||A+||3.0||60%||8|
|One Reverse Mortgage, LLC (Quicken Loans Inc.)
|Liberty Home Equity Solutions, Inc.||15||A+||2.1||42%||2|
|Synergy One Lending, Inc. (Retirement Funding Solutions)||9||A+||(N/A)||(N/A)||1|
|Fairway Independent Mortgage Corporation||23||A+||2.1||42%||21|
|Finance of America Reverse LLC||15||A+||1.0||20%||2|
All Reverse Mortgage® is proud to be Ohio's #1 Rated Reverse Mortgage Lender by the BBB with a Perfect 5.0 Stars and A+ Exemplary Rating. We currently lend in 16 states and our headquarters are right here in southern California.
All Reverse Mortgage was incorporated November 2004 and as the name implies, the only loan product that All Reverse Mortgage® originates is in fact, the reverse mortgage.
We’re committed to be your lender because you deserve the best rate at the lowest price possible.
We’re a HUD Approved direct lender lending the national HECM programs and offer a suit of Non-FHA & Jumbo Reverse Mortgages to better suit homeowners in OH with higher value homes over the national 2019 lending limit of $726,525.
We welcome you to compare our reviews and our lower rates and closing costs to any other major lender. The difference is clear, and we can’t wait to show you!
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|
HUD Approved Direct Lender
All Reverse Mortgage® is approved with the Department of Housing and Urban Development (HUD) to originate, underwrite and close the HUD Home Equity Conversion Mortgage (HECM, or “Heck-um”). The HECM is HUD’s acronym for their reverse mortgage loan.
All Reverse Mortgage® originates in Ohio and offers refinance loans, where borrowers already own their home and are looking to either pay off their existing loan and have no more monthly mortgage payment; or can help borrowers utilize their equity for other purposes if they have no existing loan or possibly a combination of both.
About All Reverse Mortgage®
The owners and management of All Reverse were part of the team that wrote and sold the first fixed rate jumbo reverse mortgage in 2008 and as such, have extensive experience in jumbo or proprietary loan programs as well. We are always looking for new products to offer to borrowers of high valued homes in the higher home priced markets that the HUD HECM may just not serve as well. Jumbo or proprietary programs typically offer lower Principal Limits as they relate to home values, though, so not all borrowers are best served with the jumbo programs available.
A seasoned originator can readily inform borrowers which program will best suit their needs and the positives and negatives of each so that the borrower can make an informed decision. It is no longer uncommon anywhere in the country for a market to be a solid HUD HECM market and then within just a short distance for a niche jumbo market to be located where there is a need for a jumbo program.
Therefore, homeowners aged 62 and above in all markets have seen that the reverse mortgage can be a very solid financial tool and many are now seeking the reverse mortgage to augment their retirement plans and not so much the mortgage of last resort. Everything from the elimination of existing mortgage payments to the line of credit that grows make reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably in their family home, but to plan for the future as well.
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 $726,525.
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
If you reside in Ohio, All Reverse Mortgage® is here to answer your questions. Call Toll Free (800) 565-1722 – Or try ARLO™ our revolutionary reverse mortgage calculator that offers side-by-side program comparisons, real-time interest rates and expert recommendations.
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.