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Rating by Finanso®

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Apply for a Reverse Mortgage Funding's loan



A reverse mortgage is a secured loan with a house signed as collateral. It is designed for people 62 years and older. The older you are, the larger loan amounts are available for you. You also must own a home and have enough equity on it. The equity on your house should be at least 50%. RMF allows you to take a loan to refinance your existing mortgage, so you can opt for paying the debts off first.

Additionally, you should meet the mortgage counselor of the Department of Housing and Urban Development to discuss the details of the loan and its cost.

How to apply for a loan

To get started with your mortgage quote, you need to complete the form on the RMF website. Fill in your name, state, ZIP code, address, mobile phone, email, age, property value, balance on the mortgage, the reason for a mortgage, and click Get Personalized Quote.

After the company contacts you and advises you on the details, you can proceed to the loan application. You need to provide your personal information and financial details. You will need to meet the counselor to discuss the loan details.

After your application gets approved and you sign a loan agreement, RMF will disburse the funds.


How can I use the Reverse Mortgage Funding proceeds?

You can do the proceeds however you need and want. You can refinance your existing mortgage, consolidate debts, buy a home, make renovations, or fund home health care.

What is reverse mortgage counseling?

The counseling means you will meet the U.S. Department of Housing and Urban Development (HUD) counselor to discuss the details of your loan.

What do I need to apply for Reverse Mortgage Funding?

You need to be at least 62 years old. Your home must be your principal residence, and your home should have at least 50% equity. And you must meet the Department of Housing and Urban Development counselor.

Calculate mortgage loan payments at Reverse Mortgage Funding

Reverse Mortgage Funding calculator will allow you to calculate an approximate payment schedule for the loan

RMF calculator
Interest rates are given in accordance with the rates of the Reverse Mortgage Funding in Washington, D.C. as of 25.09.2022
Loan amount

Specify the desired loan amount

50000 $
1000000 $
Loan term

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What to focus on before applying for a loan with Reverse Mortgage Funding

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Reverse Mortgage Funding and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All Reverse Mortgage Funding’s reviews by September 2022
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