Mutual of Omaha Reverse Mortgage Reviews
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About Mutual of Omaha Reverse Mortgage
Mutual of Omaha has been helping customers since 1909. Inspired by hometown values and committed to being responsible and caring for each other, we exist for the benefit of our customers.
And, like our customers, we thrive on relationships and building genuine, enduring connections. As a mutual company, our focus isn't on increasing share prices. It's helping customers reach their financial goals.
- Resources and calculators online
- Options for many borrowers
- In-person advice from loan officers
- Other mortgage options in-house
- No online information about rates
About Mutual of Omaha Reverse Mortgage
Mutual of Omaha is a lending company that offers several types of mortgage products, including reverse mortgages. The company offers Home Equity Conversion Mortgage (HECM), HECM for Purchase loans and jumbo reverse mortgages.
To help you understand your options, Mutual of Omaha provides educational resources and online calculators, including the following:
- HECM for Purchase calculator
- Social Security benefits calculator
- Portfolio without mortgage payment calculator
- Retirement projections with and without HECM monthly draw calculator
- Social Security benefits retirement estimator
- Detailed Social Security calculator
Mutual of Omaha is a member of the National Reverse Mortgage Lenders Association. The company is licensed and does business in 48 states — it's unavailable in New York and West Virginia. It offers a mobile app that enables clients to manage their mortgages and to stay in touch with loan offers and real estate agents.
Mutual of Omaha Reverse Mortgage requirements and application
To qualify for a reverse mortgage from Mutual of Omaha, applicants must fit the federal eligibility requirements and meet minimum credit score requirements. Mutual of Omaha doesn’t specifically mention what the credit score requirements are, so you should discuss your situation with a local agent.
Mutual of Omaha lets clients submit their reverse mortgage applications online. They can upload documents and track their application via the mobile app. Clients who require assistance before submitting an application can get in touch with a loan officer.
You can submit your contact information on the company’s website by selecting the type of loan you want and filling out a form. A loan officer will call you back to discuss the procedure for the loan application. Clients who apply for a home equity loan usually wait 30 to 45 days to complete the entire process.
Mutual of Omaha Reverse Mortgages rates
Mutual of Omaha’s reverse mortgage rates vary depending on your home, your age and your credit score, but you can talk to a representative to get an estimate.
Apart from the interest, borrowers who take out a reverse mortgage from Mutual of Omaha will have to pay lender fees, closing costs and upfront mortgage insurance. In total, Mutual of Omaha estimates these fees to range from $11,000 to $21,000, depending on the value of the home.
Every client’s situation is different, and yours will ultimately determine your rates and fees.
Mutual of Omaha Reverse Mortgage FAQ
Where are Mutual of Omaha reverse mortgages available?
Mutual of Omaha’s headquarters are in San Diego, California, but it is licensed in all states except New York and West Virginia.
Does Mutual of Omaha offer other types of mortgages?
Yes, in addition to reverse mortgages, Mutual of Omaha also offers conventional, FA, VHA, adjustable-rate and jumbo home loans.
Does Mutual of Omaha do loan refinancing?
Yes, borrowers can take out VA, FHA, investment property and home equity refinancing loans.
Still have questions?
Are Mutual of Omaha reverse mortgages good?
If you need a reverse mortgage, Mutual of Omaha is a good choice. Backed by the financial stability of its other services, its reverse mortgages are trusty and solid. The company offers HECMs, HECMs for Purchase and jumbo reverse mortgages, and it and provides online resources and a handful of calculators to help you decide which options are best for you. To get personalized advice, contact a local representative.
Mutual of Omaha Reverse Mortgage Reviews
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- 4,887,913 reviews on ConsumerAffairs are verified.
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- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
Mutual of Omaha Reverse Mortgage Company Information
- Company Name:
- Mutual of Omaha Reverse Mortgage
- Address:
- 3131 Camino Del Rio N 1100
- City:
- San Diego
- State/Province:
- CA
- Postal Code:
- 92108
- Country:
- United States
- Website:
- mutualreverse.com



