Finance of America

Finance of America, reverse mortgage specialist for homeowners aged 55 and older

Finance of America is a U.S. financial institution focused on home equity access products, with particular emphasis on reverse mortgages. The company states that it has spent more than twenty years offering homeowners aged 55 and older a way to access cash without adding monthly mortgage payments.

Its offering is built around a suite of home equity products and calculation tools designed to let interested borrowers estimate their borrowing capacity before starting any application.

Home equity products

The company's lineup includes several types of home-secured loans and lines of credit:

• HomeSafe: loans and lines of credit that provide access to home equity in amounts up to $4 million.
• HomeSafe Second: a product that lets borrowers tap part of their home equity while keeping their existing mortgage, with no need to refinance it.
• HECM: a traditional reverse mortgage, regulated under the corresponding federal program, for homeowners who meet the age and equity requirements.

The company notes that these products do not require monthly mortgage payments, although the borrower must meet the loan obligations, live in the home as their principal residence, and cover property taxes, insurance, and maintenance costs.

Reverse mortgage requirements and how it works

According to the information published, to qualify for a reverse mortgage you must own a home and generally be 62 or older. However, Finance of America offers in several states its own range of products that accept minimum ages as low as 55. In addition to age, applicants must have roughly 50% equity in the home and pass a financial assessment to determine their ability to meet the loan terms.

The company explains that the loan becomes due when the last borrower passes away or moves out of the home. At that point, the principal and accrued interest must be repaid, either by selling the property or with other funds. Because it is a non-recourse loan, if the balance exceeds the home's value, neither the borrower nor their heirs are personally liable for the difference.

Protections and costs

Finance of America emphasizes that reverse mortgages are strictly regulated by the U.S. government and come with specific consumer protections. These include maximum claim limits, the requirement for a financial assessment, and mandatory counseling with an independent, HUD-certified counselor.

As for costs, the company notes that, aside from the mandatory counseling fee and FHA insurance on certain loans, the fees are similar to those of a traditional mortgage. Most of these costs are added to the loan balance, so the upfront out-of-pocket expense is low.

Tools and resources for applicants

The company's website offers a reverse mortgage calculator that lets interested parties estimate their borrowing capacity without providing personal information, as well as a resource center with guides, articles, and answers to frequently asked questions. It also provides state-specific information on reverse mortgage requirements and rules.

The company has a phone support service and a form to request a no-obligation estimate. It also offers separate access points for new customers, current customers, and partners, the latter through the Xcelerate platform for managing pipelines and running calculations.

Recognition and ratings

Finance of America states that it has an A+ rating and Better Business Bureau accreditation since 2004, and that it has been included in Time's America's Best Companies 2026 list. The company also cites reviews from verified customers and distinctions such as Best Reverse Mortgage Lender 2026, according to its own presentation.

Location and contact

Phone: (800) 820-1715 · Email: customerrelations@financeofamerica.com · Hours: Mon-Fri 9 AM-10 PM ET, Sat 9 AM-3 PM ET