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Finance of America is a family of companies that offers reverse mortgages through Finance of America Reverse. If you’re an older homeowner, taking out a reverse mortgage can give you access to the equity in your home. We’ll help you determine whether Finance of America is a good fit for your needs.

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  • Largest Reverse Mortgage Lender in the Nation
  • 96% Customer Satisfaction Rating and A+ BBB Rating
  • Available in 49 states, 24/7 to answer your questions

  • Free quote and easy application process
  • All HECM programs available
  • A+ BBB rating and HUD approved direct lender and servicer

  • A+ rating with the BBB
  • Competitive pricing on loans due to low overhead
  • All products available - HECM adjustable, HECM fixed, & private jumbo

Best variety of reverse mortgage products

Finance of America’s primary strength is its variety of reverse mortgage products. Homeowners can choose from home equity conversion mortgages (HECMS) that are backed by the federal government, retirement mortgages, home-sharing and jumbo reverse mortgages. With this many products to choose from, it becomes easier to find one that fits your needs.

Finance of America reverse mortgages pros and cons

  • Wide variety of reverse mortgage solutions
  • All customers receive a direct line to a support agent
  • Ability to match compatible roommates to help retirees earn extra income
  • No online reverse mortgage applications
  • Recent SEC closures suggest business or financial challenges
  • No information about interest rates or terms online

This section compares the strengths and weaknesses of Finance of America as they relate to reverse mortgages. If you’re still unsure whether this financial option is right for you, you can also review our guides on reverse mortgages and reverse mortgage pros and cons.

Pros explained

Wide variety of reverse mortgage solutions

Finance of America gives older borrowers access to multiple reverse mortgage products. This includes:

  • HECMs
  • HomeSafe for Purchase
  • Jumbo reverse mortgages (for sums up to $4 million)
  • Retirement mortgages
  • Home-sharing solutions

All customers receive a direct line to a support agent

When you originate a reverse mortgage with Finance of America, you get access to its customer concierge service. As part of that service, the company will give you a phone number that directly connects you with a specific borrower care team member. This person functions as an account manager you can contact any time you need support with your current reverse mortgage. It may lead to faster service when you need it.

Ability to match compatible roommates to help retirees earn extra income

Finance of America offers home-sharing as an alternative to a reverse mortgage. If you’re retired, this proprietary product can help you bring in extra income without having to take out a new loan. The company will help you find a roommate who’s compatible with your lifestyle, preferences and interests. You may want to consult a reverse mortgage calculator as you compare this income-enhancing option to how a reverse mortgage will impact your finances.

Cons explained

No online reverse mortgage applications

Finance of America doesn’t allow you to apply for a reverse mortgage online. You can fill out a questionnaire online to begin the process, but you’ll need to wait for a specialist to contact you before proceeding. The company doesn’t say how quickly this will happen after you submit your questionnaire.

Recent SEC closures suggest challenges

Finance of America recently shut down its forward mortgage origination division. It calls the decision a strategic pivot to focus on high-growth businesses like reverse mortgages and commercial loans. That may be true, but the company also reported losses totaling $716 million in 2022. That doesn’t mean bankruptcy is imminent, but it’s something to be aware of before originating a new loan through the company. If the challenges continue, the company may be forced to shut down more services, lay off customer support agents or take other actions that could negatively impact your loan product.

No information about interest rates or terms online

Finance of America doesn’t publish its interest rates or reverse mortgage terms online. The information it provides is vague. This means you’ll likely need to contact the company for more specific information. It may be necessary to go through the reverse mortgage loan application process to determine whether Finance of America is a good fit.

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Finance of America reverse mortgage offerings

You can choose from several reverse mortgage options at Finance of America Mortgage LLC. Here’s a closer look at these offerings and how they compare.


A home equity conversion mortgage (HECM) is a type of home equity loan that’s designed for seniors and backed by the federal government. To qualify, you need to be at least 62 years old. HECMs from Finance of America can eliminate your monthly mortgage payment, convert your home equity into cash or act as a line of credit you can withdraw from on an as-needed basis. You can use the product to achieve greater financial flexibility in your retirement. It may also be an option that helps you stay in your home because you may not need to make payments on the balance until you leave your house.

HomeSafe for Purchase

You may be able to use a Finance of America HECM to purchase a new home. The process works similarly to a new mortgage origination in that you’ll still have to cover standard closing costs. The advantage is that you can use the equity in your current home to make the purchase instead of coming up with cash upfront.

HomeSafe jumbo reverse mortgage

Finance of America’s jumbo reverse mortgage offering is branded under the name HomeSafe. These are loans on high-value homes that can go as high as $4 million if you have enough equity. The company offers HomeSafe jumbo reverse mortgage options with no origination fees. It also has jumbo lines of credit and the option to select fixed interest rates.

EquityAvail retirement mortgage

Finance of America offers retirement mortgages in the form of its EquityAvail program. These are designed for retirees who want to refinance into a lower monthly payment but don’t qualify for reverse mortgages.

With this program, you can reduce your monthly mortgage payments for 10 years by paying only a portion of the interest due, freeing up extra cash in your monthly budget. The loan product also includes the option for a lump sum upfront payout, which you can use to travel, pay off bills or cover other expenses.

Once the 10 years are up, you will no longer have to make any monthly payments. The interest will continue to accrue and be added to your loan balance for the remainder of the loan term.

Silvernest home-sharing

Finally, Finance of America also offers home-sharing and roommate matching through its subsidiary Silvernest. This service helps you find roommates so you can bring in a new source of monthly income.

Silvernest guides you through the process with a compatibility rating system and simple tools for creating a customized home-sharing agreement. This product may be a good option if you don’t want to take out a reverse mortgage or can’t qualify for one.

Finance of America reverse mortgage pricing

Finance of America doesn’t publish any specific pricing guidelines on its website. You’ll likely need to contact the company directly to determine its loan fees and interest rates. However, the company does share the different categories of Finance of America prices you may incur while taking out a reverse mortgage. These include:

  • Property appraisal fees
  • Origination fees
  • Closing costs
  • Mortgage insurance premium
  • Servicing fees

The company notes you can roll many of these upfront costs into your loan. Doing so could help you minimize your out-of-pocket costs. Also consider the implications of a fixed-rate vs. adjustable-rate reverse mortgage. Your Finance of America mortgage payment will stay the same with a fixed rate but go up or down as interest rates change with an adjustable-rate loan.

Finance of America reverse mortgage financial stability

Choosing a financially stable mortgage provider reduces your likelihood of experiencing complications during your loan term. There are no signs that Finance of America is under threat of imminent bankruptcy or collapse. But there are causes for concern that merit keeping track of moving forward.

As highlighted previously, the company recently shut down its forward mortgage origination division on the back of $716 million in losses during 2022. This may impact your experience with the company, so consider the situation before proceeding with a reverse mortgage from Finance of America.

Finance of America reverse mortgage accessibility

This section considers how accessible a Finance of America mortgage is to different types of homeowners.


Qualification criteria for Finance of America’s reverse mortgage products depend on the option you choose. For example, HECMs require that you’re at least 62 years old and that your home meets minimum property standards set by the Federal Housing Authority (FHA). That said, you can qualify for a retirement mortgage through EquityAvail if you’re 55+ and the home in question is your primary residence.

The company doesn’t list any credit score or minimum home equity mortgage balance requirements on its website. You’ll need to call or fill out an online questionnaire for more specific information.

Contact information

Finance of America’s customer service phone numbers and email addresses vary for each of its reverse mortgage products. Here’s how to get in touch with agents who can help you with the one you want to learn more about.

Department Phone number Email address
HECMs (866) 654-0020 BC@reversedepartment.com
HomeSafe (800) 902-7509 Borrowercare@far.com
EquityAvail (877) 200-0160 Support@myfinancereverse.com
General support (866) 615-1257 Contact@far.com

User experience

There are pros and cons to Finance of America from a user experience perspective. The company doesn’t make it easy to learn the specifics of its reverse loan prices and terms. The only way to do so is to speak with an agent directly. This can be inconvenient and a waste of your time if you end up not being interested.

On the plus side, Finance of America has a direct phone number where you can reach a customer care representative. This can help you get the information you need about an existing loan faster.

Finance of America’s customer experience for new borrowers looking for information could use some improvement. However, once you get through the application and approval process, it seems to improve.

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Finance of America reverse mortgage customer satisfaction

Finance of America Mortgage LLC has an A+ rating with the Better Business Bureau (BBB). However, there have also been 21 Finance of America complaints filed against the company in the last three years. You can read Finance of America reverse mortgage reviews to learn more.

Finance of America reverse mortgage FAQ

What is Finance of America Reverse?

Finance of America Reverse is the reverse mortgage branch of Finance of America. It provides older adults with various options for accessing the equity in their homes, including reverse mortgages, retirement mortgages and HEMCs.

Is Finance of America Reverse legit?

Finance of America Reverse is a legitimate business. The company has existed since 2003 and is part of the broader Finance of America family, which is a business that's traded publicly on the New York Stock Exchange.

Who owns Finance of America Reverse?

Finance of America Reverse is owned by Finance of America Companies, Inc., which is based out of Plano, Texas.

Is Finance of America going out of business?

Finance of America isn't going out of business. However, it has recently shut down new mortgage originations. The reverse mortgage company says it's doing so to focus on higher-growth categories such as reverse mortgages and commercial loans.

How we evaluated Finance of America reverse mortgages

While creating this Finance of America Reverse review, we considered each of the following:

  • Product offerings: We looked at the company’s suite of reverse mortgage products and considered how they matched different types of borrowers.
  • Customer service: We considered customer support availability and contact methods.
  • Financial stability: We evaluated the company’s financial stability to assess the likelihood of future challenges for customers.
  • Transparency: We considered the company’s transparency related to pricing, terms and qualification criteria.

If you need more information to make a decision, consider reading Finance of America Reverse reviews online. You can also research Finance of America Reverse ratings from third-party services and information on other reverse mortgage companies to get a better sense of how Finance of America mortgage reviews compare.

Summary of Money’s Finance of America reverse mortgage review

Finance of America offers a wide variety of reverse mortgage products, which gives you the flexibility to choose the best option for your retirement goals. However, the company experienced financial turbulence and heavy losses in 2022, which could threaten its stability moving forward. If you’re not quite sold, you can review our guide covering the best reverse mortgages to discover more options.

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