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Best Reverse Mortgage Lenders in Indianapolis, IN

July 12, 2019, 4:37 p.m.

With home values rising nationwide and more baby boomers entering retirement years, a reverse mortgage can be a good option for senior homeowners to supplement fixed incomes. Our partners at ConsumerAffairs reviewed the best reverse mortgage lenders in Indianapolis to help you decide if a reverse mortgage is an option for you.

Everyone deserves to make thoughtful, informed purchase decisions. The local guides provided on this website are free for consumers. RTV6 may receive compensation from our partners. Learn more.

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#1
MOST POPULAR
American Advisors Group (AAG)

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(855) 299-1519
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#1 MOST POPULAR
American Advisors Group (AAG)
American Advisors Group (AAG)
Features
  • BBB accredited company
  • 97% customer satisfaction
  • Available in Indianapolis
  • Free info kit online
Read More
VISIT WEBSITE
CALL AMERICAN ADVISORS GROUP
(855) 299-1519
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#2
Finance of America Reverse
Finance of America Reverse
Features
  • Jumbo reverse mortgages
  • NRMLA certified
  • Available in Indianapolis
  • Retirement investment options
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VISIT WEBSITE
CALL FINANCE OF AMERICA REVERSE
(855) 622-6838
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#3
Liberty Home Equity Solutions
Liberty Home Equity Solutions
Features
  • No upfront fees
  • Fixed & variable rates
  • Wholesale lending options
  • Available in Indianapolis
Read More
VISIT WEBSITE
CALL LIBERTY HOME EQUITY SOLUTIONS
(866) 268-5369
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Meridian Mortgage Solutions
Meridian Mortgage Solutions
Features
  • M-Th: 8:30am - 7pm
  • Fri: 8:30am - 5pm
  • Sa-Su: 8:30am - 7pm
  • meridianmortgagesolutions.net
Location
8500 Keystone Crossing, Ste. 350
Indianapolis, IN 46240
(317) 968-9500
Grandview Lending
Grandview Lending
Features
  • M-F: 9am - 5:30pm
  • Sat: 9am - 1pm
  • Closed Sunday
  • grandviewlending.com
Location
8445 Keystone Crossing Blvd
Indianapolis, IN 46240
(317) 255-0062

How to choose a reverse mortgage lender in Indianapolis

Indianapolis Skyline

In Indianapolis, where about 11 percent of the population is 65 or older and home values are rising, senior homeowners living in neighborhoods like Carmel, Meridian Hills and Warren Park may find that a reverse mortgage makes sense. Reverse mortgages allow senior homeowners to tap into the equity in their homes and receive payments directly from lenders. These funds can generally be used for a number of different purposes, including paying monthly bills, buying a second home or financially assisting other family members.

The most common type of reverse mortgage is known as a Home Equity Conversion Mortgage (HECM). In order to qualify for an HECM in Indianapolis, you must:

  • Be 62 or older
  • Own or be close to owning the property outright
  • Occupy the property as a principal residence
  • Not be late on any federal debt
  • Be able to pay property taxes, insurance, fees, etc.
  • Participate in a government-approved HECM counseling session

With an HECM in Indianapolis, the borrower has the option to receive funds in a lump sum, in monthly payments, as a line of credit or in a combination of monthly payments and a line of credit. Another common type of reverse mortgage, known as a proprietary reverse mortgage, is privately funded and may be more suitable for Indianapolis homeowners with higher-valued homes.

Keep in mind that a reverse mortgage in Indianapolis is a loan that eventually will have to be repaid. Usually, reverse mortgages are repaid once the borrower dies or the home is sold.

When considering a reverse mortgage company in Indianapolis, compare fees and costs from all lenders, taking into account origination and closing costs, interest rates and closing fees. Be certain you can use the money from the loan for the purpose you desire.

American Advisors Group (AAG)

American Advisors Group (AAG)

CALL AMERICAN ADVISORS GROUP

(855) 299-1519 VISIT AMERICAN ADVISORS GROUP

This award-winning company prides itself on a 97 percent customer satisfaction rating from in-house surveys. American Advisors Group offers HECMs and an expert staff to assist with the process every step of the way. Customers say that although sometimes the process takes longer than they had hoped, it works out in the end and is well worth the wait.

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Finance of America Reverse

Finance of America Reverse

CALL FINANCE OF AMERICA REVERSE

(855) 622-6838 VISIT FINANCE OF AMERICA REVERSE

This top-ranking reverse mortgage lender makes it a priority to earn and keep your trust. Finance of America Reverse has plenty to offer: lump sum, tenure payment and line of credit options; an average closing time of 30 days; and award-winning customer service. According to customers in Indianapolis, if you’re unsure of what something means, the team at FAR will go out of their way to explain it to you.

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Liberty Home Equity Solutions

Liberty Home Equity Solutions

CALL LIBERTY HOME EQUITY SOLUTIONS

(866) 268-5369 VISIT LIBERTY HOME EQUITY SOLUTIONS

As one of the country’s largest reverse mortgage providers, Liberty Home Equity Solutions has worked with more than 50,000 seniors since 2003, and all of that experience has led to their reputation as industry experts. Offering HECMs and a promise to match or beat all competitors, this lender is an industry favorite. Customers say they love the responsiveness and personal attention provided by Liberty Home Equity Solutions representatives.

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Our partners independently research and analyze the companies mentioned in our guides and work with subject matter experts to add valuable information that helps consumers make smart purchase decisions. Our partners will not include companies on these guides that do not meet specific quality standards. The compensation we receive from our partners may impact how and where companies appear on our site, including the order in which they appear.

Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.