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.

The Good

  • Professional Mortgage Specialists Provided
  • Competitive Fees Compared to Other Reverse Mortgage Lenders
  • Wide Range of Reverse Mortgage Products
  • Silvernest Platform

Professional Mortgage Specialists Provided

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.

Competitive Fees Compared to Other Reverse Mortgage Lenders

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.

Wide Range of Reverse Mortgage Products

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.

HECM

  • Pay off an existing mortgage loan
  • Government insured by the Federal Housing Administration
  • Never owe more than you home is worth
  • Diversify retirement strategy
  • Cover medical expenses
  • Renovate your home
  • Help your grandchildren pay for college
  • Purchase homeowners insurance

Silvernest

  • Earn extra income
  • Pairs aging homeowners with qualified housemates
  • Share expenses with housemates
  • Stay connected
  • Live in your primary residence

HomeSafe Select

  • Loan won't add to monthly payments
  • Equity conversion
  • Use equity funds however you want
  • Accommodates higher valued properties up to $10 million
  • Offers similar protection to the HECM
  • Borrower not held responsible if the loan value ends up exceeding the value of the home
  • Still be responsible for property taxes, homeowners insurance, and other home-related fees

Reverse for Purchase

  • Useful if you are looking to purchase a new home
  • Offers increased buying power and eliminates monthly mortgage payments
  • You choose the size of the home to fit your needs
  • Finance a portion of the total sale price of the home personally
  • Finance the rest of the balance with a reverse mortgage
  • Live in your new home without a monthly mortgage payment
  • Don’t pay off the loan until you leave

Silvernest Platform

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.

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The Bad

  • Poor Customer Service
  • Limited Product Availability

Poor Customer Service

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.

Limited Product Availability

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.

The Bottom Line

Finance of America Reverse is a viable option to consider among other reverse mortgage lenders. The company is well established with over 16 years of experience and hundreds of branch officers across the United States.

FAR offers long-term care at any stage of your retirement process. Whether you are just starting to create a strategy or you are looking for more ways to improve your retirement situation with a reverse mortgage loan, Finance of America Reverse will help you find the mortgage loan that fits your needs.
For more information on FAR, read the Finance of America Reverse reviews below from real FAR customers.

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Call our recommended rep over at Finance of America Reverse below.

1-(888) 641-8581

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User Reviews

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Roger
February 20th, 2019 Middleton, ID DETAILS
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When the notary came to our house, he was ready to help us sign all the papers and was knowledgeable about it. It was fairly easy to get the person I was working with. If I didn't get to them right away, he would get back to me. They are very upfront with their terms and conditions and prices. Other companies I was looking at did not disclose anything to me.

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Anonymous
February 20th, 2019 Kannapolis, NC DETAILS
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Every person I dealt with was professional and excellent. They do what they say they are going to do and are help you understand whether you are making a good decision. I like the way they responded to me from the first time that I called, it was a wonderful experience. The most important thig was they explained it to me so that I totally understood it.

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V.R
February 20th, 2019 Solana Beach, CA DETAILS
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I had wonderful service. The agent was wonderful and knowledgeable, he always answered my phone calls. It was easy to get a loan with them, they were prompt. They just a really stellar company as far as I know. I would recommend them to anyone.

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Tim
February 20th, 2019 Gillette, WY DETAILS
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At first there were a lot of apps and it takes me a while to comprehend some of that stuff. But, she was very patient and explained things the best she could. Some of it I had to go back and research on my own though. I'm glad I chose them.

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M.F
February 20th, 2019 Los Angeles, CA DETAILS
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The only thing I do not like is the dollar amount changes. When it was all said and done it was about $70,000 less. But, the lady I was working with was on top of everything and kept doing follow up calls to see if everything was okay.

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Nathalia
February 20th, 2019 Denver, CO DETAILS
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I had a problem with getting the contractors to sign off work already done. But, customer support was friendly and informative. The lady I was working with was extremely experienced and definitely knew what she was doing.