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Finance of America Reverse Mortgage Review


ConsumersAdvocate.org Rating: 4.4 / 5 (Excellent)
80 Customer Comments & Reviews - see all comments
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Finance of America is a leading provider of reverse mortgage solutions, offering a range of products designed to meet the diverse needs of older homeowners. With a strong reputation, extensive product offerings, and a commitment to transparency, Finance of America is a top choice for those considering a reverse mortgage. The company operates in 50 states and is headquartered in Tulsa, Oklahoma.
 
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Diverse Reverse Mortgage Products

The HomeSafe product suite gives older homeowners more choices and flexibility than typical reverse mortgages. Designed to meet the needs of homeowners 55 and older(1), it offers loans up to $4M(2) with no mortgage insurance premiums (MIPs). 

  • HomeSafe Standard provides a lump sum payout, ideal for those seeking immediate access to home equity.
  • For those who prefer flexibility, HomeSafe Select functions as a line of credit, allowing homeowners to draw funds as needed.
  • HomeSafe Second is a second lien that allows homeowners to access a portion of their home equity while preserving their current first mortgage rate and terms. 

Finance of America(3) also offers the FHA-backed Home Equity Conversion Mortgage (HECM) for homeowners aged 62 and older. The HECM for Purchase (H4P) allows seniors to use a reverse mortgage to purchase a new home, combining homeownership with financial flexibility.

Commitment to Customer Service

Finance of America holds an A+ rating with the Better Business Bureau (BBB)(4), reflecting its commitment to professionalism and ethical practices. Customers consistently praise Finance of America for their support and guidance provided throughout the reverse mortgage process. With a 92% customer satisfaction rate(5), the company’s loan officers work closely with clients to ensure they fully understand their options and make informed decisions tailored to their financial needs.

Educational Resources and Online Tools

FinanceofAmerica.com is a user-friendly online experience designed to educate homeowners and those considering tapping their home equity. 

The website includes a reverse mortgage calculator and educational articles on reverse mortgages, retirement planning, and product offerings. Additionally, the site’s inspiring customer stories show how real customers used their home equity to make the most of their retirement. These resources ensure homeowners have the information they need to make informed decisions.

A Trusted Provider

With over 20 years of experience in the reverse mortgage industry, Finance of America is an established, trusted lender. The company’s reputation is built on their commitment to transparency, customer education, and ethical practices. Consistently receiving high ratings across various review platforms, Finance of America’s dedication to customer satisfaction is evident in the positive feedback from clients who appreciate the personalized service and expert guidance throughout the reverse mortgage process.

This article is for informational purposes only and should not be considered financial advice. It is recommended to consult with a financial advisor to discuss specific situations before making any financial decisions.
  1. For certain HomeSafe products only, excluding Massachusetts, New York, and Washington, where the minimum age is 60, and North Carolina and Texas where the minimum age is 62.
  2. Loans up to $4 million available for certain HomeSafe products. The HomeSafe reverse mortgage is a proprietary product of Finance of America and is not affiliated with the Home Equity Conversion Mortgage (HECM) program. Not all HomeSafe products are available in every state. Please contact us for a complete list of availability.
  3. Finance of America is a division of Finance of America Reverse LLC. The company does not do business as Finance of America in CA, NM, NY and OK.
  4. Source: Better Business Bureau - Finance of America Reverse LLC – A+ Rating, Accredited since 5/13/2004.
  5. Source: Consumer Affairs - Finance of America Reverse 4.6 / 5 Stars ​Consumer Affairs Average 4.6 / 5 - 92% Customer Satisfaction Rating as of 6/25/2024.
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Customer Comments

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Linda S
2/1/2019
Mark Grilley was so helpful and very patient with my husband and me. Unexpected problems arose yet he hung in there and worked things out for me . Thanks for the help. Linda Spaulding
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Bob E
1/31/2019
Robert Commerford was a pleasure to work with. He was always calling, texting or e-mailing us with update info, and any loan status updates. I would recommend him and your company to any of my friends. Robert is a consummate professional. He has a gifted personality, is respectful and seems to be a man of integrity. This has been ana rewarding expierence for us. Bob Ewing
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Craiglnm
1/31/2019
I thank Wiliam Bowman for making this process go smoothly! Sincerely, Linda Craig
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Russell C
1/29/2019
Found the process to be "painless", and if there was such an award, it would be "Finance America Reverse was easy to do business with" Russ Cappellino
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Lee G
1/5/2019
Scott Zmikly was professional and knowledgeable! The oovernment requires a lot of disclosure Ann that process was grueling.
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robert m
12/18/2018
first of all i would like to say thanks . it was tuff at times but with the help of Dane Bowler all was well , i would also like to say thanks Dane Bowler,he help take the edge off. Thanks again robert m jackson Sr.
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Celeste M
11/29/2018
It is hard to write a review when you have not received any payment from your Reverse Mortgage. Necole Blaine has been exceptional in keeping me up to date on everything. Thank you Nicole for everything.
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Mark L
10/3/2018
Scott Zmikly helped and kept us informed from the beginning to closing. H answered and addressed every question and concerns we had. thank you!
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Mark L
10/3/2018
Scott Zmikly was very helpful, knowledgeable and patient. He kept us informed from beginning to closing. VERY PROFFESIONAL!!! His team that helped with the whole process were great!
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Edwin T
6/8/2018
I would like to thank Miranda Dorsey, Nicole Blane , and their associates for their prompt and thorough assistance in processing my reverse mortgage. I have a question. I have an escrow account set up to pay my property taxes and insurance. I have a Village of Horseheads Property Tax Statement of $522.62 which is due for payment by 7/2/2018. Where do I send that billing for payment? Thank you.
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Javiera M  
Official Response

Digital Marketing Manager of Finance of America Reverse Mortgage
Edwin, We appreciate your business and glad that Miranda and Nicole were helpful during the process. Someone from our team will be in touch with you to answer your questions. Thank you, FAR

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