Financial Freedom is the largest reverse mortgage lender with about 56% of the market.
You can go to them direct or go with a mortgage broker that does reverse mortgages, most likely with Financial Freedom.
Over 95% of reverse mortgages are the FHA HECM loan product. Financial Freedom has their own Cash Account reverse mortgage product which is for very expensive homes.
Basically you are looking for the best loan officer out there, that will spend the time with you to answer all your questions and help you get the loan.
The small firm is most likely the better source to get your reverse mortgage. The terms are the same anyway. Its just a question of service.
July 29th, 2010 at 10:56 pm
Financial Freedom is the largest reverse mortgage lender with about 56% of the market.
You can go to them direct or go with a mortgage broker that does reverse mortgages, most likely with Financial Freedom.
Over 95% of reverse mortgages are the FHA HECM loan product. Financial Freedom has their own Cash Account reverse mortgage product which is for very expensive homes.
Basically you are looking for the best loan officer out there, that will spend the time with you to answer all your questions and help you get the loan.
The small firm is most likely the better source to get your reverse mortgage. The terms are the same anyway. Its just a question of service.
References :
http://www.mtgmortgages.com/reverse_mortgages/reverse_mortgage_resources.htm