Consumer reviews on the BBB site average 3.18 out of 5 stars, but the reviews do not specifically address reverse mortgages. The Better Business Bureau gives Mutual of Omaha Mortgage an A+ rating. Mutual of Omaha Reverse Mortgage Complaints If you submit a contact form, you will provide consent to receive future marketing calls. Mutual of Omaha provides reverse mortgage calculators and videos explaining the loan options, as well. The site also lists a phone number, and there are local offices all over the country.Īll communication methods get you in touch with a specialist who can help you determine if a reverse mortgage is right for you. It’s easiest to use the mobile app or click on “Contact Us” to use the form on the website. You have a few options for getting started with a Mutual of Omaha Reverse Mortgage application.
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How to Apply for a Mutual of Omaha Reverse Mortgage We found HECM cost samples on the parent company’s site: Mutual of Omaha Reverse Mortgage doesn’t publish fees on the website. The property, state and other factors influence closing costs, but you can pay for them from the reverse mortgage proceeds. Typical reverse mortgage costs include title insurance, origination fee, mortgage insurance, financial counseling and an appraisal fee. Mortgage calculators provide a variety of calculations for HECM for Purchase and other reverse mortgages.Communicate real-time with your loan officer or real estate agent with the built-in chat.Loan milestone notifications keep you informed of your reverse mortgage loan status.Paperwork is streamlined by uploading photos and documents using the app. Use the app to learn about the reverse mortgage programs offered and start the loan application process. The app is a valuable communication tool for reverse mortgage clients, family members, financial advisors and HECM specialists.
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Mutual of Omaha Reverse Mortgage was the first in the industry to offer a free mobile app for Android and iOS. Mutual of Omaha Reverse Mortgage Mobile App Utilize home equity for a lump sum or monthly payout.Ĭash out at a higher level when your home value increases.īuy a new home to facilitate aging in place with H4P.įor high-value homes, up to a $4 million payout. Consider this loan if your home value is over $850,000 or condo value is over $500,000.
Consider a refinance to get access to more funds when the value of your home increases. Mutual of Omaha’s reverse mortgage refinance is for consumers who want to take advantage of improving housing market conditions.Borrowers receive a lump sum or monthly payment. This financial tool allows retirees to cash out on the equity in their homes. A Mutual of Omaha reverse mortgage loan is a home equity conversion mortgage (HECM) regulated and insured by the Federal Housing Administration.The exception is that the sale may be delayed as long as your spouse lives in the home. You pay off your loan with proceeds from the sale of your house when you move out. Mutual of Omaha offers four reverse mortgage solutions with no monthly payments. Mutual of Omaha Reverse Mortgage Products No reverse mortgage loan rates or fees on the website.
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