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Find the Best Reverse Mortgage Lenders in Baltimore, MD

If you’re a senior Baltimore homeowner who needs extra money, think about the benefits of a reverse mortgage. Borrowers get a lump sum or regular payments and don’t have to repay the loan as long as they live at home. Our partners at We researched the best reverse mortgage lenders in Baltimore to increase your cash flow during life’s golden years.

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    Compare Top Reverse Mortgage Lenders

    #1 OUR FAVORITE
    Finance of America Reverse
    Overall satisfaction rating
    • Jumbo reverse mortgages
    • NRMLA certified
    • Available in Baltimore
    • Retirement investment options

    Prepare for retirement with us!

    Learn More (218) 282-4772 Read More
    #2
    American Advisors Group (AAG)
    • BBB accredited company
    • 97% customer satisfaction
    • Available in Baltimore
    • Free info kit online

    Prepare for retirement with us!

    Learn More (855) 299-1519 Read More
    #3
    Liberty Reverse Mortgage
    Overall satisfaction rating
    • No upfront fees
    • Fixed & variable rates
    • Wholesale lending options
    • Available in Baltimore

    Liberty Reverse Mortgage, formerly known as Genworth Financial Home Equity Access, has been helping senior citizens gain financial independence and security through Home Equity Conversion Mortgages (HECMs) for almost a decade.

    Learn More (866) 268-5369 Read More
    #4
    Fidelis Mortgage
    • Veteran-owned
    • Knowledgeable reverse mortgage consultants
    • Baltimore-based
    • NRMLA member
    Location
    1809B E. Joppa Rd.
    Baltimore, MD 21234
    (410) 668-6501
    Read More
    #5
    M&T Bank
    • Home Equity Conversion Mortgages
    • Online reverse mortgage resources
    • Multiple Baltimore locations
    • Request an estimate
    Location
    329 W. Baltimore St.
    Baltimore, MD 21201
    (888) 253-0712
    Read More
    #6
    New American Funding
    • Multiple ways to receive funds
    • Online reverse mortgage resources
    • A+ Better Business Bureau rating
    • Office location in Towson
    Location
    100 West Rd., Ste. 300
    Baltimore, MD 21204
    (800) 890-1057
    Read More
    #7
    Baltimore County Employees Federal Credit Union
    • Three Baltimore locations
    • No hidden fees
    • Apply in person or online
    • Competitive rates
    Location
    8640 Ridgely's Choice Dr.
    Baltimore, MD 21236
    (410) 828-4730
    Read More

    How to choose a reverse mortgage lender in Baltimore

    Baltimore skyline

    With a reverse mortgage, the borrower trades home equity in exchange for cash from a lender. The loan isn’t repayable until the borrower moves out of the house or dies. The proceeds from a reverse mortgage in Baltimore can be used for nearly anything: paying off an existing mortgage, covering monthly expenses, lowering debt or updating a home.

    To qualify for a reverse mortgage in Baltimore, you usually need to meet these requirements:

    • Be at least 62 years old.
    • Use the property as your principal residence.
    • Own your home completely or have a low mortgage balance that can be paid off at closing with reverse mortgage funds.
    • Be able to pay ongoing expenses including taxes and insurance.

    There are different types of reverse mortgages in Baltimore. The most common is the Home Equity Conversion Mortgage (HECM) which is insured by the federal government. Some lenders may offer privately-funded proprietary reverse mortgages, usually meant for borrowers with higher-value homes.

    The amount you can borrow with a reverse mortgage is based on your age, the interest rate and the value of the home. The loan may include a fixed or variable interest rate.

    When obtaining a reverse mortgage, it’s advisable to include your spouse as a co-borrower. If one of you passes away, the other will be allowed to continue receiving payments and living in the home.

    Keep in mind that a reverse mortgage is ultimately a loan that has to be repaid once the last surviving borrower dies or no longer lives in the home. If your heirs lack the funds to pay back the lender, they may have to sell the property. That’s why it’s important to have discussions with family members before taking out a reverse mortgage in Baltimore.

    For answers to common questions about reverse mortgages, see this resource from the Consumer Financial Protection Bureau. Also, the Maryland Department of Labor, Licensing and Regulation has information for Baltimore homeowners.

    Reverse Mortgages Reviews

    Finance of America Reverse

    This top-ranking reverse mortgage lender makes it a priority to earn and keep your trust. Finance of America Reverse has plenty to offer: lump sum, tenure payment and line of credit options; an average closing time of 30 days; and award-winning customer service. According to customers in Baltimore, if you’re unsure of what something means, the team at FAR will go out of their way to explain it to you.

    Finance of America Reverse Learn More (218) 282-4772

    American Advisors Group (AAG)

    This award-winning company prides itself on a 97 percent customer satisfaction rating from in-house surveys. American Advisors Group offers HECMs and an expert staff to assist with the process every step of the way. Customers say that although sometimes the process takes longer than they had hoped, it works out in the end and is well worth the wait.

    American Advisors Group (AAG) Learn More (855) 299-1519

    Liberty Reverse Mortgage

    As one of the country’s largest reverse mortgage providers, Liberty Reverse Mortgage has worked with more than 50,000 seniors since 2003, and all of that experience has led to their reputation as industry experts. Offering HECMs and a promise to match or beat all competitors, this lender is an industry favorite. Customers say they love the responsiveness and personal attention provided by Liberty Reverse Mortgage representatives.

    Liberty Reverse Mortgage Learn More (866) 268-5369

    Fidelis Mortgage

    Baltimore-based Fidelis Mortgage is a veteran-owned reverse mortgage lender with an A+ rating from the Better Business Bureau. Mortgage professionals at this company make it their mission to treat customers with respect and review their financial situations individually to come up with the right solution. Customers say the “faithful” motto is appropriate for Fidelis Mortgage.

    Fidelis Mortgage

    M&T Bank

    M&T Bank is a regional financial services company serving customers in Buffalo and across the East Coast. Request a reverse mortgage estimate by calling to speak with a specialist or completing an online contact form. M&T Bank also has multiple branches across the Baltimore area. Reviewers in Baltimore like the personalized customer service at M&T Bank.

    M&T Bank

    New American Funding

    New American Funding, started in 2003, is a family-owned, independent mortgage lender offering reverse mortgages. Visit the company’s website to find a number of educational resources. Baltimore customers can call for more information or visit the Towson branch. New American Funding gets five-star reviews from many homeowners.

    New American Funding

    Baltimore County Employees Federal Credit Union

    Members of the Baltimore County Employees Federal Credit Union have access to reverse mortgage loans with competitive rates and no hidden fees. An experienced mortgage loan counselor will meet with you and help with application all the way through closing. Apply in person at one of three locations or through the online mortgage center. Customers say the credit union’s loan rates are among the best in Baltimore.

    Baltimore County Employees Federal Credit Union