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.
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.
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.
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.
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.
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.
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.