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One Reverse Mortgage Review


ConsumersAdvocate.org Rating: 4.6 / 5 (Excellent)
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One Reverse Mortgage is headquartered in California and is a subsidiary of Quicken Loans, the largest mortgage lender in the country. The company is licensed in all 50 states and has a sales presence in 47 states. One Reverse Mortgage is a member of NRMLA, approved by the Federal Housing Administration, and insured by the U.S Department of Housing and Urban Development.
 
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How is One Reverse Mortgage rated?

Breakdown

5.0/5
Transparency & Reputation
5.0/5
Loan Options
3.8/5
Availability

Overall Rating: 4.6 / 5 (Excellent)

One Reverse Mortgage is a member of the US Department of Housing and Urban Development, the Nation Reverse Mortgage Lenders Association, and is insured by the Federal Housing Administration and Approved by Equal Housing Opportunity. These accreditations, combined with an A+ rating on BBB and an Excellent score on Trust Pilot contributed to high marks from us. In terms of loans, the company offers adjustable rate Home Equity Conversion Mortgage (HECM), fixed rate HECM, and HECM for purchase. They also provide three different forms of loan disbursement: lump sum payments, monthly payments, and establishing a line of credit. These varied loan types and different loan disbursement options provide the consumer with the flexibility to choose a plan that best fits their reverse mortgage goals.

Transparency & Reputation

Lender Type
Lender
Nationwide Mortgage Licensing System ID
2052
Nationwide Mortgage Regulatory Actions
1

Transparency & Reputation - 5 / 5

One Reverse has a strongly positive rating from both the BBB and Trustpilot. This is unusual for any company in the financial services industry. Most of the comments praise the company's customer service, excellent communication with its clients, and step-by-step guidance through the reverse mortgage process.

One Reverse Mortgage Loans

Loan Types
HECM Traditional
HECM for Purchase
Payout Options
Lump Sum Payment
Monthly Payments
Line of Credit
Maximum Loan Size
$636,150

Loan Options - 5 / 5

One Reverse Mortgage offers four mortgage products: 1) an adjustable-rate reverse mortgage; 2) a fixed-rate reverse mortgage; 3) a reverse mortgage for purchase of another home; and 4) a HELO reverse mortgage for people who are unable to get a conventional FHA reverse mortgage. 

One Reverse Mortgage Availability

Site Features & Mobile App
Home Equity Calculator
BBB Rating
A+
Date Collected
2019-06-24

Availability - 3.8 / 5

Contact & Additional Info

Homepage URL
https://www.onereversemortgage.com/
Company Phone
(800) 784-2536
Headquarters Address
4445 Eastgate Mall #320, San Diego, CA, 92121
Year Founded
1985

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Customer Comments & Reviews

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D
Deanna G
1/14/2017
I am in the process of getting a reverse mortgage. My husband passed away in August 2016. I maintained my financial obligations until the remainder of my husband's small life insurance that I had after burial expenses was exhausted. I found it impossible to maintain these with less than 1/2 of the income we received while he was alive. I thought I was going to have to file bankruptcy but was advised by my attorney to look into reverse mortgage. I applied for a regular mortgage loan with Howard Bank. My loan officers said I had to maintain paying 100% of my creditors until the loan came to a close in a few months. I found this to be impossible. That is when I contacted OneReverseMortgage... Read More

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