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Finance of America Reverse

Finance of America Reverse
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(218) 282-4772
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Overall Satisfaction Rating 4.66/5
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars
Based on 228 ratings submitted in the last year

Finance of America Reverse is one of the premiere reverse mortgage lenders in the United States. Since 2003, FAR has been providing homeowners age 62 and older with the financial independence they deserve while preparing for or during retirement. By utilizing home equity for a retirement asset, these savvy homeowners are able to strengthen and lengthen their retirement plans.

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Finance of America Reverse offers a wide selection of reverse mortgage products for standard and jumbo loans. FAR reverse mortgage specialists are knowledgeable about retirement finances and help you through the entire process.


  • Competitive fixed interest rates
  • Price-match guarantee
  • Loans up to $3 million


  • Limited to 26 states

Top Finance of America Reverse Reviews We Found

Rated with 5 stars
Verified Reviewer Verified Buyer

I wanted to free up the cash we were spending on payments to enjoy our life more and Finance of America Reverse has taken some stress out of my life. Compared to other companies, they were more straightforward and they broke down everything where I could understand it better…

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Rated with 5 stars
Verified Reviewer Verified Buyer

Everything went really well with my experience with Finance of America. Their rep was very knowledgeable about reverse mortgages… He was there and he answered any questions I had. I couldn't ask for anyone better than him. I would recommend Finance of America Reverse Mortgage.

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Finance of America Reverse Call Now Toll Free (218) 282-4772 Learn More 
Finance of America Reverse
Call Now Toll Free
(218) 282-4772

About Finance of America Reverse

Finance of America Reverse (FAR) provides financial options for retirees who want to pay off their mortgage early, cash in on their home's equity and move into a new house without dealing with a new mortgage payment. As a wholesale lender, FAR works with independent mortgage brokers to originate reverse mortgages. Finance of America Reverse wholesale loan products includes HECMs, HECM for purchase, HomeSafe and refinancing. 

Expert mortgage specialists at FAR help you select the best reverse mortgage for your financial situation. FAR reverse mortgage products can eliminate your mortgage payments and give you access to more cash each month.

How does HomeSafe work?

A FAR HomeSafe reverse mortgage loan pays off an existing mortgage, and the borrower keeps the remainder of the funds. Unlike regular reverse mortgage loans, which cap at $765,600, Finance of America jumbo reverse mortgage amounts can increase to $3 million dollars. Depending on the HomeSafe option, you can get cash in a lump sum or in payments over time. 

Like most reverse mortgage loans, a HomeSafe loan only needs to be repaid when the borrower permanently leaves the home. HomeSafe loans are non-recourse loans that do not require monthly payments. However, the borrower is responsible for paying taxes and insurance on their house. 

HomeSafe loan limits are higher than conventional HECM loans and offer many of the same protections and features. HomeSafe is available to homeowners over the age of 62 with some equity. The age of the borrower, the appraised value of the home and the type of loan selected determine HomeSafe loan amounts. Credits are allowed for HECM to HomeSafe refinances, but not for HomeSafe to HomeSafe refinances.

Finance of America Reverse HomeSafe options

Finance of America's Homesafe options let you replace your current home lown with a reverse mortgage. The company currently offers two HomeSafe options: HomeSafe Standard and HomeSafe Select. Both options have a fixed rate option, no origination fees and lender credits for closing costs.

HomeSafe Standard

HomeSafe Standard is a full-draw reverse mortgage loan with fixed rate options and no origination fee. Other HomeSafe Standard fees are comparable to HELOC and second mortgages, but borrowers can get more cash at closing since the lender credits for customary closing costs. HomeSafe Standard offers six rates and loan-to-value (LTV) ratio tiers, with purchase transactions also available.HomeSafe Standard is best for those who want to increase their cash flow without up-front out-of-pocket expenses. HomeSafe Standard is available in the following states:

  • Arizona
  • California
  • Colorado
  • Connecticut
  • District of Columbia
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Louisiana
  • Massachusetts
  • Michigan
  • Nevada
  • New Jersey
  • New York
  • North Carolina
  • Ohio
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Texas
  • Utah
  • Virginia
  • Washington

HomeSafe Select

HomeSafe Select is a loan option similar to a HELOC but with the benefits of a reverse mortgage — borrowers get access to a line of credit but don’t have to make monthly payments except for taxes, homeowners insurance and property charges. There’s no origination fee or minimum draw amount, and HomeSafe Select loans come with an adjustable rate. HomeSafe Select is best for those who want the comfort of a line of credit with the opportunity to keep building equity if they're going to make more payments. HomeSafe Second is available in the following states:

  • California
  • Colorado
  • Florida
  • Georgia
  • Hawaii
  • Texas
  • Virginia

Finance of America Reverse FAQ

How does FAR calculate funds?
Finance of America Reverse uses a proprietary reverse mortgage calculator to determine loan amounts, or principal limits, based on a borrower’s age, the type of HECM product they want, expected interest rate, closing costs and the appraised home value.
How is HomeSafe different from a traditional reverse mortgage?
HomeSafe has higher loan limits than FHA-insured HECM loans, and borrowers get more competitive fixed interest rates. Plus, condos appraised at $500,000 or more don’t require FHA approval.
Who is eligible for a FAR HomeSafe loan?
Homeowners who are 62 or older with some equity are eligible for HomeSafe reverse mortgages.
Do I have to get an appraisal to get HomeSafe?
Yes, you must pay for a home appraisal to determine the current value of your property.
Where are Finance of America Reverse locations?
Finance of America Reverse has offices located in San Diego, New York, Tulsa and Indianapolis.

Do we recommend Finance of America Reverse?

Yes. Finance of America Reverse offers a wide selection of reverse mortgages for standard and jumbo loans. FAR reverse mortgage specialists are knowledgeable about retirement finances and help through the entire process. There have been very few Finance of America complaints in the last year. Finance of America Reverse mortgage reviews points out the company's knowledgeable reverse mortgage specialists, professional customer service and reasonable terms.

Finance of America Reverse Reviews

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: April 10, 2020

Finance of America was rated the best. I had gone online and looked at companies. I also talked with several other companies but I liked the way Finance of America responded quickly. I liked the person that I was talking to. She seemed very knowledgeable and very experienced, although she was a little talky. Still, the process went very smoothly. I was happy with everything except the appraisal process. I didn’t feel the appraisal was anything close to what it should be. The guy was older than me and I'm 80. He came with his appraisal already in hand without seeing my house and staying in the neighborhood. He had gone online and took comparable sales that I knew were not comparable because I've been in the homes that he was using for comps. The comparable that he used were terrible.

A home sold for over 300,000 in my neighborhood and it was not nearly as nice as mine. It's not on the lake. It doesn’t have the fountain. It's not on the golf course. It doesn’t have the upgrades. We've redone the bath with quartz and the kitchen. We’ve done so many upgrades. But the appraisal guy came and said I'm at 260,000. He did say that my house is slightly better than many but the golf course and the lake couldn’t be take into consideration. He said “they” wouldn’t let him put that in. Who’s “they”? Also, they won’t allow those to be put in. What kind of a comp is that? It was absolutely atrocious for somebody to come out, quote and make an appraisal but they already had it done.

I probably wouldn’t have gone with it because it was upsetting but at the same time, I was not selling the house. I was just taking a loan on it and I didn’t need all the money that I am allowed to take. So I thought it really didn’t make a darn what they put on it and I think I made the right call. I'm glad I did it because my daughter got laid off yesterday after 20 years, which seems to be the normal thing that’s going on now. If I need to help my kids, I have the cash instantly available. So I'm really happy with the company.

I also liked the idea of having cash available and being able to stay in the home that I want. Now that there’s the coronavirus, I think this is a good place to be confined if we have to be. I've been in the neighborhood for 20 years. I love the house as I'm sitting here imprisoned looking at my wall and a nice little lake with a fountain and ducks. Our golf course is still open and we're really close to groceries – all the things that seniors need. So I could stay here and be as comfortable as anybody. If I have to, I can also go to a nursing home and have cash available. Then Marge could stay here.

Marge is my life partner and she's younger than I am. We're not married but we do live together and she's 75. I wondered whether I really wanted to do this. What if something happens to me long before her? But she's got a year and then she has a power of attorney. She can set the house up for sale or buy it herself. All the options are hers. If you go on the internet today, one thing says the reverse mortgage is the greatest since canned soup but the next one says not to go there under any circumstances. But I felt like the company really came through. With the way they explained things, they made me go through everything and I felt very knowledgeable.

I had gone to Quicken Loans before and it was just the opposite experience. I got a very young person with zero experience who tried to rush the thing through. The percentage was wrong. I said, “Wait a minute,” and he said, “Oh, well, I can fix that.” He went to his boss and changed things two or three times. I thought, “No, I don’t wanna do that.” At Finance of America, in comparison, the reps seemed very knowledgeable and quick. It was also funny because it was coast to coast. They are a California-based company and I'm in Florida but everything was overnight. The person that came and signed the papers was even the same person that I used twice. They allowed me to do that because somebody that really knew what they were doing didn’t take any of my time. It was completely the opposite of the appraisal guy.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 7, 2019

    I talked to Finance of America Reverse rep and I asked him about reverse mortgage. He was very good about sending me information and and he gave me all of his contact information, but I forgot. When we actually found the house, the first thing on my Google search was One Reverse Mortgage. I was originally gonna go with them and I had a very nice loan rep. We got started and before I even had the chance to fill things out, he changed to a different division. Apparently, they stopped doing some lending on the reverse because they were so busy with refinances.

    And then, the Finance of America rep re-contacted me, which was a perfect timing. As it turned out, I was so happy with them because he was so good about keeping me up to date. And by that time, we had gotten a place and I had to have it closed in 30 days, and he was able to close it in 28 days. He was very fast and I was very cooperative, and we got everything done on time. I used to sell real estate, so I really know how important it is that the consumer has to cooperate with you or you can’t get anything done.

    There was one negative though and that was because we were in a rush. I never did get the final loan papers to go over until we went in for closing, and I signed 100 pages. I didn’t really get to see what I was signing. So, if they were to make a change, they need to get that information to the closing agent before. That being said, we’re trying to get things done on time. If I were smart, I would’ve put this off a day so I can read everything. But I just thought, if you don’t sign them, you’re not getting this house, so you might as well sign them and hope that everything’s right.

    Finance of America wanted me to sign a document saying that it would be a minimum of 60 days to close the loan. And they insisted that I sign it, and I said, “No. I’m not gonna.” They said they could close it earlier, but you had to sign that in 60 days, and I just couldn’t do that. Their upfront cost was a lot and for some people, that might make a huge difference. Ultimately, I didn’t have to bring in as much as I originally thought. But it’s a great loan for seniors. You can get the house you want and as long as you have cash, you’re okay. And as long as you know it’s gonna cost you $10,000 more basically in closing fees and everyone was very clear on that. There was nobody that tried to pull the wool over my eyes. It was just it is what it is, this is what it’s gonna cost you. And so, I was happy.

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    Rated with 5 stars
    Verified Reviewer
    Original review: Oct. 5, 2019

    From the moment that Jennifer (Bunny) ** contacted me concerning my inquiry about getting a Reverse Mortgage, she has walked with me through ‘the’ entire procedure. I CAN’T THANK HER ENOUGH. First she sent me an e-mail and FedExed a hardcopy, outlining what will take place (and Yes, I read the whole thing). Next, was ‘the’ counseling session. It was estimated to take 60 – 90 minutes (over the phone). After 15 minutes, the ‘counselor’ said, “Well, it looks like you understand ‘the’ Reverse Mortgage process” and we were done.

    Following this, was ‘the’ application process. Bunny asked me to send her (Faxed) a financial statement which I composed immediately and sent it off. When she got it, we talked about what/why I was wanting a Reverse Mortgage. Her observation was, “If I didn’t have a mortgage, I wouldn’t need any supporting financial help.” (I have income from Social Security and a pension from a large aerospace company.) I replied, “Yes, you are right. However, I have 6 Grandchildren and my son’s oldest daughter is starting college this September, and I know he will need help in financing her college education”. Just a note: I don’t look at ‘this’ refinance as a Reverse Mortgage (because, I will probably never have to use ‘the line-of-credit’ or use the ‘cash out’ for myself), I look at this as a ‘Home Equity loan’ where I am borrowing from myself to help my Grandchildren.

    Next, was a list of documents needed to go through the application process. The application process went smoothly, many, many, many documents to sign. Next, the appraisal - - oops, they found a problem (with dry-rot in one of the patio post/pillars) - - need to get that corrected right away (since this is a FHA loan, everything has to be perfect and working). Next, closing, many, many, many documents to sign – again.

    The thing that I appreciated the most was, Bunny always kept me ‘Up-to-date’ on what was going to occur next or if we had just completed a mile-stone (counseling, application, appraisal or closing), what was happening - did the application get accepted, if anything was missing or omitted – what was needed to complete the task or the appraisal ‘found’ a problem - what the problem was, etc. It was wonderful working with her. It was like talking to a friend that knew the process and could answer all my questions/insecurities. If I needed to do this again, I would definitely call on Jennifer (Bunny) ** for assistance.

    Note 2: I have also told several of my friends that are/were in the same boat I was/am (they have pretty good cash flow (retired teachers), but are currently saddled with a mortgage). However – a caveat, if you are a spender, not a saver – don’t get this type of funding (Reverse/Home Equity). It will be too easy to go through your savings.

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    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Oct. 1, 2019

    I built an $800,000 house. I borrowed 200,000 from Finance of America Reverse to access the equity and to withdraw that money tax-free. I was not happy with their price. Also, there were certain requirements that the rep I worked with had no control over. The processing took too long, about five months. The application and underwriting process was simple but my rep, Julie, passed on the processing to somebody that she depends on and she would come back to me and say that the girl didn't do the job or she didn't get the information that she needed. They didn't seem to have a checklist.

    I kept telling Julie that I had a house payment coming up and that the reverse mortgage processing needed to be completed before the house payment was due. They didn't hit the deadline and I was very upset. She said, “I guarantee you, you will not have to pay the mortgage.” She called me at 4 o’clock on a Friday and said, “I’m sorry, but you need to go ahead and pay the mortgage.” I did make the payment, and then after everything was done, I got a check from my mortgage company. Despite that, Julie followed up, she checked. The problem was my wife didn't wanna do this reverse mortgage. So, Julie provided a lot of information to help me convince her. Julie handled some of my wife's concerns, so I give Julie credit for a lot of stuff. She even FedExed everything more than once. I couldn't ask for anybody to be any nicer. On following up, she wasn’t pushy.

    I just built this house and I did it on a cost plus with a guaranteed max. I had my actual cost from the builder. And so, the appraiser came out and he came back with an appraisal of 610. I got a house that was just built across the street from me that was 1.25 million. This guy came out and the only thing that he did for me was he confirmed my square-footage. But for him to put it at 610 was ludicrous. I had a heartburn on that, but FAR couldn't do anything about that. I think they were at their mercy. I had two choices and I didn’t know either one of the choices as far as the appraiser. I just picked the wrong one and I didn’t know that FAR could’ve done something on that. This guy shouldn’t be on the list to do an estimate for FAR.

    If in the future, I’m not making a payment on a $200,000 mortgage and it accumulates, I don’t really know how negative it will be, other than I think it will actually be a positive because the value of the house, if you’re looking at 610, then that’s almost 800,000. I’ve got a lot more equity in the house than what was shown with the valuation, but I think that’s a negative because the appraisal was not correct. In the end, the advantage is I don’t have a mortgage. I’m debt-free and I have no quarter payments. I was looking at reverse mortgage as just having more expendable income.

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    2 people found this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 23, 2019

    My mom has dementia and I am her guardian so, we are caring for her and I’m home right now in order to do that. Plus, in order to continue to keep her at home and provide the best care that we can instead of sending her to a nursing home, we did a reverse mortgage on her house. We started the process about a year ago. We’ve been talking about it for a long time but as it was, we were running out of resources. It was clear that in order to get through another year or more, we needed to do that. We asked around what the process was from my lawyer and we got some advice. We found Finance of America Reverse and started working with them. We expected that it would take about three months to finish everything, and it took closer to nine months. That extra six months was challenging but they did things to make it work.

    Finance of America Reverse messed up on the paperwork and I was out of the country for a while for four months, so I had to come back in order to sign the papers. When I signed the papers, it turned out they messed up one of the 200 pages. It was a ridiculous stack. They did an addendum or something at the very end and they had the wording wrong. Our lawyer caught it but they wanted me to come back to the country. I was at a very remote part of Canada and they were willing to work with us and had me sign them and download what they wanted me to sign, print it out, and then FedEx it back. I appreciated the fact that they were willing to be flexible. It was really good that I didn’t have to fly back a second time. So, in the end, I was happy with how it all worked out.

    The rep was great to work with and I was very comfortable with her. When she came back from her vacation, she helped me straighten out the things that got a little screwy when she went off on vacation. I really liked her. The process was more difficult than I was expecting going into it, but I was happy that we managed to work it all out in the end. Other than how long it took, which was hard and we definitely run out of money before getting the reverse mortgage, I’m very glad that we got it because otherwise, she would be in a nursing home now. So, we got it just in the nick of time. So, I would recommend Finance of America for someone in our situation. Working with them made it possible to keep mom at home for another year or maybe two more years, and it’s really important to me and my siblings. So, we’re really happy about that. I was overall satisfied with the process in the end.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 10, 2020

    They did a great Job. Chuck ** is the best. Chuck did what he said he would do. And did it during a pandemic. The Co. did everything he said they would do. I would recommend them to anyone looking for a reverse mortgage.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 30, 2020

    I had a reverse mortgage with Finance of America Reverse that I closed some time ago. Their service was very good the first time. When I moved and bought another property, I thought about going back to them. I talked to the same loan mortgage originator that serviced me the last time. He had all the information that I needed at his fingertips, so I did not have to start all over. It took some time to approve the loan, but we got it approved and I have no complaints.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 15, 2020

    With a reverse mortgage, I had a trust that I'm withdrawing money on it for so many years and it kept getting lower and lower. I wanted to just boost my income every month. Not all finance companies will give you that if it's a condominium, and the condo managers don't approve of the reverse mortgage. Finance of America has a way of getting around it so it's like refinancing. So it's much better. I'm very happy with Finance of America. I'm very comfortable. One thing that probably could have improved was the fact that the second notary time, the notary said he was gonna come in so late. I said, "Can you do it tomorrow?" not realizing that you have to do it on the same day. So he came the next day and I had to do it over again, which was not a problem. The second lady was faster and better anyway. She's lovely. She explained everything, and she made it very easy for me.

    2 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 13, 2020

    Recently received a reverse mortgage loan from Finance of America Reverse. I found them online. Spoke to Taylor **. He gave me a very good explanation of how a reverse mortgage works then sent me a pack thoroughly explaining all. He was always available had all the answers I needed. A very nice lady Linda ** came to my home, Took my application. Another nice lady Jennifer ** came to my home for the closing. In a few days I received the funding. Thanks to Taylor ** with Finance of America Reverse for a very good experience plus Taylor assures me he remains available if I have any questions.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 9, 2020

    Finance of America Reverse gave me the better interest and pay off, and they were very friendly. So I went with them. I talked to a girl and she helped me very much go walk through it. There wasn't too much I had to do. They took care of everything. They kept in contact with me and told me every step of the way what they were gonna do and what to expect. Everything seemed to be working all fine.

    It took a little over 30 days by the time I got some people out here to look at the house. With everything going on with this virus thing, it slowed things down a little bit. The guy came out with all the paperwork to sign and everything was quick after that. There was just one issue when they were working on taking care of that. But other than that, it went fairly smooth. They answered all my questions. They were very helpful. I got a good deal from what I heard from other ones. So hopefully, they'll settle this one little issue we have. But the rep is working on it and she's gonna take care of it for me.

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    Finance of America Reverse Company Information

    Social media:
    Company Name:
    Finance of America Reverse
    Company Type:
    Year Founded:
    Formerly Named:
    Urban Financial Group
    8023 East 63d Place, Suite 700
    Postal Code:
    United States