Best Reverse Mortgage Companies in Orlando, FL
Finance of America Reverse
As a member of the National Reverse Mortgage Lenders Association (NRMLA), Finance of America Reverse has retailers licensed in 43 states and a wholesale division licensed in 42 states and Puerto Rico.
American Advisors Group (AAG)
American Advisors Group puts its sole focus on reverse mortgage lending, so it's focused on helping you access your home’s equity.
Magnolia Bank offers personalized service for reverse mortgages and quick closing. Magnolia Bank offers FHA-backed Home Equity Conversion Mortgage and offers various fund distribution schedules.
Ashley Thalmueller - Fairway Mortgage
Licensed local loan officer with Fairway Independent Mortgage Corporation, an FHA-approved lender offering HECMs. Most reverse mortgage loans are tax-free.
American Liberty Mortgage - Orlando, FL
Offers a full range of home loans, including HECMs and H4Ps. Committed to finding clients low rates and providing a smooth transaction. Apply online or contact a mortgage specialist.
We Are Not The Banks, WE ARE BETTER.
Direct lender. Provides a variety of home loan types, including reverse mortgages. It helps clients take advantage of their home equity while getting a great rate.
1st Florida Lending
Direct lender. One of few companies offering single-purpose reverse mortgages. Also provides investment and proprietary reverse mortgages. Multilingual staff.
ACE Lending Group , LLC
Provides HECMs. Free reverse mortgage qualifier tool and free quote tool on the website. Call or email to talk with a specialist, or apply online. Option to change disbursement method during the life of your reverse mortgage.
Streamline Mortgage Solutions
Broker founded in 2004. Offers various loan programs from multiple lenders to bring the best deals to customers. Apply online or call to talk with a broker.
Bank of England Mortgage
FHA-approved lender offering HECMs and H4Ps. Focuses on competitive prices, hassle-free service, extensive product knowledge, and a friendly attitude. Call for more information or start your application online.
Reverse Mortgage Costs in Orlando, FL
Homeowners in Florida can borrow up to $1,089,300, the 2023 HECM maximum nationwide claim amount. Orlando seniors can stretch their retirement dollars further than most; the city has a lower cost of living than the national average and is less expensive to live in than Miami or Tampa. Orlando residents should consider the following factors that can impact the cost of a reverse mortgage:
- Home value
- Home equity
- Borrower age
- Loan amount
- Interest rates
- Mortgage insurance
- Lender fees
- Disbursement method
Interest rates on reverse mortgages are typically higher than those on “forward” mortgages and other types of loans. Reverse mortgage borrowers in Orlando should expect to pay origination fees (capped at $6,000), property appraisal fees, closing costs and mortgage insurance.
Before closing, borrowers must complete a HUD-approved counseling session, which also comes with a fee.
Orlando, FL, Reverse Mortgage Eligibility Requirements
Reverse mortgage borrowers are subject to certain eligibility requirements:
- Borrower must be 62 or over
- Own the home outright or have significant equity
- Remain up-to-date on property taxes
- Maintain active homeowners and flood insurance
- Complete HUD-approved counseling with a reverse mortgage counselor
A reverse mortgage makes sense for homeowners who plan to stay in their homes as long as possible, and don’t have access to other types of home equity funding such as cash-out refi or HELOC. These traditional loans have stricter income and credit requirements, while reverse mortgages often don’t have minimum FICO or maximum debt-to-income ratios. If a homeowner qualifies for a home equity line of credit, a reverse mortgage is most likely not needed.
Orlando, FL, Reverse Mortgage Company Reviews
Ashley Thalmueller – Fairway Mortgage
Ashley Thalmueller is a local Orlando licensed loan officer for Fairway Independent Mortgage Corporation. The company offers a full suite of home loan financing, including HECMs. She works to find clients low rates and close quickly. Clients give Ashley five stars for being honest and caring and taking the time to walk them through the entire loan process. Customers enjoyed quick closing, tireless dedication and a stress-free experience.
- Live chat feature available on the website
- Email or call to get started
|Ashley Thalmueller – Fairway Mortgage|
|Address||12938 Tanja King Blvd, Orlando, FL 32828|
|Phone Number||(407) 469-5052|
American Liberty Mortgage – Orlando, FL
American Liberty Mortgage offers highly personalized service throughout the home loan process. Reverse mortgages are available as HECMs and H4Ps. Reviewers consistently gave this business five stars for client-first service, professionalism, quick closing and excellent communication. Customers especially appreciated the agents going to great lengths to ensure they understood everything and met deadlines.
- Maximum loan amounts between 48% and 70% of home value
- “Quick Quote” feature on website
|American Liberty Mortgage – Orlando, FL|
|Address||7575 Dr Phillips Blvd # 360, Orlando, FL 32819|
|Phone Number||(407) 233-4077|
We Are Not The Banks, WE’RE BETTER
We Are Not the Banks, We’re Better is a direct lender providing competitive rates and reverse mortgage products tailored to each client’s individual needs. Brad Siebert is licensed (NMLS #325832) and affiliated with Premier Mortgage Resources. Reviewers said the staff was nice, knowledgeable, and committed to service and professionalism. Customers liked that loan officers could work through setbacks and get them a great rate.
- Schedule a free consultation
- Online “purchase assistant”
|We Are Not The Banks, WE’RE BETTER|
|Address||1101 N Lake Destiny Rd Suite #310, Maitland, FL 32751|
|Phone Number||(407) 353-3750|
1st Florida Lending
1st Florida Lending is a direct lender that gets clients the lowest rates. The company works with all types of financial situations. Apply for a loan to get matched with a program that fits your qualifications with no hard credit pull. The company offers single-purpose, proprietary and investment reverse mortgages. Reviewers experienced super responsiveness and knowledgeable agents, professional services, support and counseling throughout the process, and great rates.
- Get loan options in 60 seconds using the Loan Wizard Match application
- Free credit analysis
|1st Florida Lending|
|Address||2151 Consulate Dr #8, Orlando, FL 32837|
|Phone Number||1 (800) 655-1345|
ACE Lending Group, LLC
ACE Lending Group offers reverse mortgage HECMs. Clients can choose a lump sum, monthly payments or line of credit and can change disbursement methods during the life of the loan. Use the reverse mortgage qualifier tool on the website to receive options based on your criteria and compare rates and terms. Contact a specialist for personalized and expert advice. Clients said their experiences were wonderful, with great customer service and support during the process.
- Simple reverse mortgage qualifier
- Online decision-making tools and calculators
|ACE Lending Group, LLC|
|Address||6200 Metrowest Blvd STE 103, Orlando, FL 32835|
|Phone Number||(407) 902-2262|
Streamline Mortgage Solutions
Streamline Mortgage Solutions specializes in being fast, easy, responsive and reliable. The company offers multiple loan programs from various lenders. Start your application online or contact a specialist to get started. Reviewers were impressed that brokers returned every email and phone call immediately, and gave five stars for exceptional service. Customers said the team was efficient and knowledgeable and walked them through every step of the loan process.
- Mortgage broker in business for 17 years
- A+ rating by the BBB
|Streamline Mortgage Solutions|
|Address||100 E Sybelia Ave #300, Maitland, FL 32751|
|Phone Number||(407) 898 4477|
Bank of England Mortgage
Bank of England Mortgage offers HECMs and H4Ps, along with a variety of home loan products at industry best pricing. Contact a specialist to walk you through the process and answer your questions. Reviewers recommend this company for great rates and excellent customer service. Clients said agents worked with them to find the best loan options and explained everything in detail.
- Apply online
- Comprehensive loan programs
|Bank of England Mortgage|
|Address||3920 Edgewater Dr, Orlando, FL 32804|
|Phone Number||(407) 333-7395|