Finance of America Reverse (FAR) is a reverse mortgage lender that offers a variety of reverse mortgages and equity solutions, such as commercial loan options, student loan refinancing services, home loan options, reverse mortgage solutions, equity solutions, and equity conversion.
FAR emphasizes the personal aspect of a reverse mortgage loan in addition to the business transaction numbers. FAR’s motto is “Customer First, Last, and Always.” For the past eight years, FAR has been the number one wholesale reverse mortgage lender against other reverse mortgage companies and is ranked number two on the top 100 HECM lenders list.
Reverse Financing is only available to senior homeowners or seniors who have considerable equity in their home real estate. The homeowner must be over the age of 62. A reverse mortgage offers the flexibility to receive compensation from your reverse mortgage loan in a lump sum or in payments over time. For more information on reverse mortgages, check out this guide to the pros and cons of reverse mortgages.
Finance of America Reverse offers professional retirement assistance through financial advisors, real estate professionals, and mortgage brokers for the borrower. These guides ensure that you understand the process and that you feel supported every step of the way. The company will assist you in reviewing equity solutions to help you live your best retirement.
If needed, Real Estate Brokers through FAR can also offer assistance in purchasing a second home through a reverse mortgage loan. Using The Home Equity Conversion Mortgage (HECM), older generations can increase their buying power.
FAR recently dropped its origination fee. The company offers lender credits on closing costs on certain products for eligible buyers.
A borrower can receive compensation from equity conversion for up to $10 million.
Finance of America Reverse offers a selection of products to assist borrowers in planning for retirement. Each product offers a variety of solutions to fit your retirement needs.
Reverse for Purchase
Home Sweet Shared Home™ gives baby boomers and empty nesters a platform for finding housemates to stay in their homes, earning them additional income. Borrowers who choose Finance of America Reverse for their reverse mortgage loan get a free one-year subscription for the company’s Silvernest home sharing service as well as costs waived for matching with a housemate.
While FAR offers free brochures, a loan calculator, and a retirement quiz some consumers have found customer service a hassle to work with. Reports have been made of rocky transitions, lack of communication, and delayed response time. Read what real Finance of America Reverse consumers had to say about their experience in the Finance of America Reverse Reviews.
When using the loan calculator, customers will find that some mortgage loan options are not available in their state where their primary residence is located. When considering Finance of America Reverse, make sure the plan you need is offered in your area. Other reverse mortgage lenders are available in more states.
Call our recommended rep over at Finance of America Reverse below.
Mikel & Sheir Lowden
The person we worked with was very helpful. She answered all our questions and made the process very easy.
They kind and very helpful
John P Franklin
Speed up the process! They were very hard to contact, it seems the only way to get them to call back was to threaten them with scrapping the whole thing. The person we worked with always talked right over us.
I loved working with the agent but I believe they told me some stuff that wasn't true
Gary from Florida
They were very friendly and everything they said turned out to be true. It was a good experience.
I currently have just an escrow account which pays my property taxes and insurance. I hope to upgrade to a full reverse mortgage in the future to enable me to pay off credit card debt. Customer Service representative Miranda Dorsey has been very helpful in resolving some concerns and problems.
I first contacted AIG for a Reverse Mortgage. After numerous requests for documents and 90 days later, they would only approve the loan if I put $90K into an escrow account for payment of property taxes. I didn't have the money to put into escrow so I called the 800 number for Finance of America Reverse. I was fortunate to work with Nicole Blane. Within 30 days my loan funded WITHOUT escrow money for property taxes. And I saved $6K on the loan origination fee.
Betty Ann Davis Derbigny
The staff at Finance of America/Reverse is very professional,efficient,and caring.Mr.Matthew A,my loan officer,is one of the best,in my opinion.He and his team went over and beyond to make my experience,navigating the reverse mortgage process,most productive and successful.I can never thank him and his team enough,for being such wonderful professionals.----- I have no complaints about Finance of America/Reverse.
By keeping the closing date as accurate as possible. don't tell clients by the end of this week and in actuality it is 3 weeks later.
Everyone with whom I talked to was extremely helpful and courteous.
Answers all questions quickly
The process was pretty easy, customer service is nice n kind.. definitely be bak for future loan.
Wayne P. Nelson
Easy to talk with and discuss the reverse mortgage process.
I liked working with them because I was always kept informed about the progress my loan was making. Also, I was encouraged to call at anytime if I had any questions. I don't know how it could be improved but, it takes a long time from start to finish. I guess when you are working with the government it's always slow.
Flexibility and wiling to create customer satisfaction.
The only good thing I have to say about any of the people that I dealt with was that they in general were polite. How to improve? They need to learn how to do their job.
RESPONSIVE AND KNOWLEDGEABLE
Too much paperwork. Paperwork not written for the average person, leagal documents can be written so an most people can understand. Bet I signed my name 100 times.
Katie M, the loan officer, was WONDERFUL!
They made the whole thing easy and send a report every month
Loved working with my agent, Randy H. He stayed right on top of everything & always answered my questions.
I really don;t know much about the company or my loan, very little to no communication with me... I don't know where my loan stands at this point and what my options are...
Kept me informed but very slow otherwise
My agent Jennifer R made the whole process work for me.
ERNIE WAS VERY HELPFUL, BY STAYING INVOLVED. I LIKED HIM. IF I HAD TO DO OVER, I'D GO TO HIM. GOOD GUY.
The Representative was very personable and followed-up every step of the way. If I had concerns or frustrations, he was there to answer all my questions. He walked with me hand and hand, even right up to the closing. They were wonderful. My only regrets....they were not here in Mobile, Al.
Wish they had a secure customer web portal and an app. Communicating with them is totally antiquated.
The guy I worked with was great in the beginning, but he got caught up in a new job and customer service went down hill.
The man Tobin was very helpful and addressed all my concerns
John & Roberta
We liked having one person of contact to work with. There were many people involved in the process, but only one point of contact that we had to deal with. He was very up to date and informative.
Joel Z. Olivarez
They answered all my questions and it all came true. From the first time I talked to their Agent it took two months to closing. Great Company to work with on a Reverse Mortgage.
Follow up with documents was very poor!! I still do not have a complete record of my transactions. In my opinion they are in violation of federal law. Don't do business with them!!
They were great to work with and closed quickly.
I had just one agent that was personable, knowledgeable, and patient, as I had many questions.
Have customer service reps who have more experience, know what they are talking about, and don't lie or make things up as they go along if they don't know the answer
There were a couple a things we had to correct but that was just was lack of understanding of the procedure.
The young lady that I work with carried me through the whole process and without any problem.
They were supposed to pay my full year of real estate taxes and they only paid one quarter.
They did everything they said they were going to do. My agent did an excellent job.
The person that helped me was a very very nice person and explained everything.
The customer service is always there and they take care of any problems.
The very nice salesmen helped me through all of the little things.
The customer service representatives worked with me very well.
The agent I worked with was very knowledgeable and he did everything to get it through. They were very helpful. There were a few bumps in the road, but a very good outcome.
The agent was such a pleasure to work with. She's just like family. I just really love her. She was social and just helped me a lot. Everything was just done really well.
I found that the gentleman that worked with me was completely honest and he was just up front with me. They did everything they said they were going to do.
The customer service has worked everything out with us real good. They've advanced money anytime we've asked for it. They've been good people to work with.
The customer representatives are very courteous and very prompt. They're very responsive to my questions and their processes run very smoothly.
I liked the people I was dealing with. They seemed to give me some straight answers. It took a little longer than I felt that it should.
They seem like they take care of it and so far they have. When I call them, they answer. They always do what they said they would do.