Top Reverse Mortgage Lenders in Oklahoma
| Lender | Rating | Years in Business | Stars (0-5) | Good Review % | Complaints | BBB Review |
|---|---|---|---|---|---|---|
| Advisors Mortgage Group | A+ | 25 | 2.00/5 | 40.0% | 5 | Source |
| American Advisors Group (AAG) | A | 19 | 4.69/5 | 93.8% | 56 | 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 | 4.41/5 | 88.2% | 37 | Source |
| Finance of America Reverse LLC (FAR) | A+ | 21 | 1.00/5 | 20.0% | 22 | 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% | 39 | 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 | 3.94/5 | 78.8% | 18 | Source |
| Mid America Mortgage Inc. | A+ | 65 | 3.00/5 | 60.0% | 0 | Source |
| Moneyhouse | NR | 27 | NA | NA | 0 | Source |
| Movement Mortgage, LLC | A+ | 17 | 4.80/5 | 95.6% | 109 | Source |
| Mutual of Omaha Mortgage | A+ | 11 | 4.61/5 | 92.2% | 45 | Source |
| Open Mortgage LLC | A+ | 21 | 2.60/5 | 52.0% | 1 | Source |
| Plaza Home Mortgage Inc | A+ | 23 | 2.38/5 | 47.6% | 17 | Source |
| Smartfi Home Loans | A+ | 5 | NA | NA | 0 | Source |
| South River Mortgage, LLC | A+ | 5 | 2.62/5 | 52.4% | 15 | Source |
Oklahoma Reverse Mortgage Facts
| State | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Purchase Reverse Mortgages Closed Last 12 Months | Lenders in Oklahoma | Avg. Home Value |
|---|---|---|---|---|---|
| Oklahoma | 26,467 | 220 | 7 | 89 | $199,559 |
Oklahoma Reverse Mortgage Lending Limits
Oklahoma is the 28th most populous state in the U.S. and ranks 20th in terms of land size. As of 2024, approximately 4 million people reside in the state, with a large portion of the population centered around Oklahoma City and Tulsa. Of these residents, around 500,000 are aged 65 or older, and 68.9% of Oklahomans are homeowners.
History and Economic Overview
Oklahoma became part of the United States through the Louisiana Purchase in 1803. It served as a relocation area for various Native American tribes during the 19th century and became a hub for settlers following the Land Runs of the late 1800s. In 1907, Oklahoma was admitted as the 47th state in the Union. The Dust Bowl of the 1930s severely impacted the state, leading to widespread agricultural devastation due to drought and wind erosion.
Oklahoma City, the state’s capital and largest city, boasts a population of 631,346 within city limits and 1.3 million in the greater metro area. It was famously settled during the 1889 Land Run and is known for being the birthplace of the first parking meter and shopping cart. Oklahoma City has also produced notable figures like actor Ron Howard and chef Rick Bayless. After Oklahoma City, the next largest cities include Tulsa, Norman, and Broken Arrow.
Climate and Geography
Oklahoma experiences a mix of humid subtropical and semi-arid climates, with more humid conditions in the southern and eastern regions. The state enjoys long, hot summers with an average high of 94°F in July and mild winters, where January sees an average low of 29°F. Despite its mild winters, Oklahoma is part of Tornado Alley, making it prone to severe weather events, including tornadoes during spring and summer.
Economic Highlights
Oklahoma’s economy is diverse, with key industries including aerospace and defense, agriculture, energy, and biosciences. Major employers like Express Employment Professionals, Hobby Lobby, and Avis Budget Group drive the state’s workforce.
Home Values and Reverse Mortgage Opportunities
As of January 2024, the average home value in Oklahoma is $235,200, which is below the federal maximum reverse mortgage lending limit of $1,209,750 for Home Equity Conversion Mortgages (HECM). This makes most Oklahoma homeowners eligible to access the full benefits of a reverse mortgage. For those with homes exceeding the HECM limit, jumbo reverse mortgage programs are available to provide additional borrowing power.
Oklahoma Approved Reverse Mortgage Counseling Agencies
| Name | Agency ID | Address | Phone | Web Site |
|---|---|---|---|---|
| QUICKCERT, INC. | 84311 | 7122 S SHERIDAN RD STE 2 TULSA, OK 74133-2775 | (888) 383-8885 | http://www.quickcert.org |
Did you know? Oklahoma State 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.
Top Lender Resources in OK:
Reversemortgage.org NRMLA Members in Oklahoma
HUD.GOV Approved Lenders Search
