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Michael G. Branson, CEO of All Reverse Mortgage, Inc., and moderator of ARLOâ„¢, has 45 years of experience in the mortgage banking industry. He has devoted the past 20 years to reverse mortgages exclusively. (License: NMLS# 14040) |
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All Reverse Mortgage's editing process includes rigorous fact-checking led by industry experts to ensure all content is accurate and current. This article has been reviewed, edited, and fact-checked by Cliff Auerswald, President and co-creator of ARLOâ„¢. (License: NMLS# 14041) |
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Michael G. Branson, CEO of All Reverse Mortgage, Inc., and moderator of ARLOâ„¢, has 45 years of experience in the mortgage banking industry. He has devoted the past 20 years to reverse mortgages exclusively. (License: NMLS# 14040) |
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All Reverse Mortgage's editing process includes rigorous fact-checking led by industry experts to ensure all content is accurate and current. This article has been reviewed, edited, and fact-checked by Cliff Auerswald, President and co-creator of ARLOâ„¢. (License: NMLS# 14041) |
Michael G. Branson
Cliff AuerswaldReverse Mortgages in Tennessee: A Comprehensive Guide
If you’re a Tennessee homeowner aged 62 or older, a reverse mortgage could be a valuable tool to help you unlock the equity in your home and improve your financial security during retirement. In this guide, we’ll cover everything you need to know about reverse mortgages in Tennessee, including key facts, the latest statistics, top lenders, and essential protections.
Top Reverse Mortgage Lenders in Tennessee
| Lender | Rating | Years in Business | Stars (0-5) | Good Review % | Complaints | Source |
|---|---|---|---|---|---|---|
| Advisors Mortgage Group | A+ | 25 | 1.00/5 | 20.0% | 6 | Source |
| Atlantic Avenue Mortgage LLC | B+ | 2 | 4.94/5 | 98.8% | 2 | Source |
| American Pacific Mortgage | F | 28 | 2.00/5 | 40.0% | 13 | Source |
| Ennkar Inc. | A+ | 14 | 4.00/5 | 80.0% | 2 | Source |
| Fairway Independent Mortgage | A+ | 28 | 4.39/5 | 87.8% | 33 | Source |
| Finance of America Reverse LLC (FAR) | A+ | 21 | 1.00/5 | 20.0% | 34 | Source |
| GoodLife Home Loans | A+ | 12 | 5.0/5 | 88.6% | 0 | Source |
| Guild Mortgage Company (Formerly Cherry Creek LLC) | A+ | 64 | 1.36/5 | 27.2% | 33 | Source |
| HighTechLending Inc | A+ | 18 | 4.93/5 | 98.6% | 1 | Source |
| Liberty Home Equity Solutions Inc. | A+ | 21 | 1.00/5 | 20.0% | 2 | Source |
| Longbridge Financial LLC | A+ | 12 | 3.69/5 | 73.8% | 21 | Source |
| Mid America Mortgage Inc. | A+ | 66 | NA | NA | NA | Source |
| Moneyhouse | NR | 27 | NA | NA | 0 | Source |
| Movement Mortgage, LLC | A+ | 17 | 4.81/5 | 96.2% | 107 | Source |
| Mutual of Omaha Mortgage | A+ | 11 | 1.48/5 | 29.6% | 46 | Source |
| Open Mortgage LLC | A+ | 22 | 3.0/5 | 60.0% | 1 | Source |
| Plaza Home Mortgage Inc | A+ | 24 | 2.69/5 | 53.8% | 13 | Source |
| Smartfi Home Loans | A+ | 5 | NA | NA | 0 | Source |
| South River Mortgage, LLC | A+ | 5 | 3.49/5 | 69.8% | 13 | Source |
Latest Tennessee Reverse Mortgage Statistics
| State | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Lenders in Tennessee | Avg. Home Value |
|---|---|---|---|---|
| Tennessee | 1.32 million | 675 | 33 | $316,335 |
Loan Type: HECM Standard Loans Originated in Tennessee
Performance Period: Loans endorsed between January 1, 2024, and December 31, 2024
Note: Includes all HECM Standard cases within the specified endorsement period.
Tennessee Reverse Mortgage Lending Limits
Tennessee, part of the Southeastern United States, ranks as the 16th most populous state and the 36th largest by geography. As of 2024, the state’s population is approximately 6.9 million, with over 614,000 residents aged 62 or older who are homeowners, making them potential candidates for reverse mortgages.
History and Economic Overview
Known as “The Volunteer State”, Tennessee earned its nickname during both the War of 1812 and the Mexican-American War, when large numbers of volunteers from the state enlisted to serve. Tennessee has played an essential role in U.S. history and is home to rich cultural and musical heritage, particularly in Nashville, often referred to as “Music City.”
Tennessee’s economy is driven by healthcare, automotive manufacturing, and tourism. Major employers in the state include FedEx, Nissan, and Vanderbilt University Medical Center.
Climate and Geography
Most of Tennessee enjoys a humid subtropical climate, which appeals to many retirees, including “snowbirds” who flock to the state for its mild winters. Clingmans Dome, located on the eastern border along the Appalachian Trail, is the highest point in the state at 6,643 feet, and the highest peak east of the Mississippi River.
Tennessee’s lack of a state income tax is another key factor that attracts many to the state, especially retirees.
Largest Cities
Tennessee’s largest cities include:
- Memphis: Known for its role in blues music and its rich cultural heritage.
- Nashville: Home to the country music industry and a vibrant economy.
- Knoxville, Chattanooga, and Clarksville are also significant urban areas within the state.
Home Values and Reverse Mortgage Opportunities
As of January 2025, the average home value in Tennessee is $316,335, well within the federal reverse mortgage lending limit of $1,209,750 for Home Equity Conversion Mortgages (HECM). This means most homeowners in Tennessee are eligible to tap into their home’s equity through a reverse mortgage. For higher-valued properties, jumbo reverse mortgage programs offer additional borrowing power.
Tennessee Reverse Mortgage Counseling Agencies
| Name | Agency ID | Address | Phone | Web Site |
|---|---|---|---|---|
| AAA RESIDENTIAL RESOURCES, INC. | 81524 | 604 GALLATIN AVE STE 103 NASHVILLE, TN 37206-3475 | (615) 650-9779 | http://604 Gallatin Ave Suite 103 |
| CCCS OF ROCHESTER-CHATTANOOGA | 90681 | SUITE C-26 5600 BRAINERD RD CHATTANOOGA, TN 37411-5310 | (423) 490-5620 | N/A |
| TENNESSEE HOUSING DEVELOPMENT AGENCY - DIRECT COUNSELING | 90555 | 502 DEADERICK ST NASHVILLE, TN 37243-0200 | (615) 815-2100 | http://www.thda.org |
