Choosing the Right Louisiana Reverse Mortgage

Picking the right reverse mortgage lender in Louisiana is the first step you need to take when embarking on a journey that could improve your life and reduce your stress levels regarding money. Reverse mortgages are continuing to grow in popularity as more and more people decide that they want to have a happier and less stressful retirement. If you are 62 years of age or older, and own your home with little or nothing left on your original mortgage, then this loan can unlock the equity in your home to give you the freedom to do the things you have always wanted to do.

Find out how a reverse mortgage loan can be part of a comfortable retirement. Click here for free information.

Louisiana Reverse Mortgages Make Payments to You

Most Americans spend decades making a monthly payment to their mortgage company as they work to pay off their home. This process often involves a lot of sacrifices and hard work. Once you have paid off your LA home, or have most of it paid off, a reverse mortgage lets you take advantage of all of that hard work. Instead of having to sell your home to unlock the money in it, with a reverse mortgage you keep your home and can still get access to a good portion of the equity in it. For many Louisiana seniors, it is the best of both worlds.

Different Lenders Will Offer You Different Amounts of Access to The Equity in Your Home

One important thing to remember is that different reverse mortgage companies will offer you different levels of access to the amount of equity in your home. While they tend to be similar, a small difference can really make a huge impact on your life. This is your home, you have worked hard your entire life to pay for it, so make sure that you get the most out of it that you can. Does this mean that you have to draw out the maximum amount of cash? No, of course not. However, why wouldn’t you want to have access to as much money as possible? More money means more options, which means that you will have more options on how you want to spend your retirement.

How Can You Be Sure That You Are Choosing the Right Lender?

Getting a reverse mortgage is a big deal. It’s a loan that involves your home, and it will affect how any heirs you may have been awarded their inheritance. It will also give you access to the equity locked up in your home, potentially opening up a level of financial freedom for you that you have never had before. In other words, it’s very important that you make smart decisions. Paramount among those is choosing the right reverse mortgage lender. How exactly do you do that? You do it by taking your time and making an informed decision. You don’t rush into anything, and you take the time to compare offers before making a final decision. Above all else, pay attention to your instincts and be wary of any deal that doesn’t feel right to you.

Interested in a Louisiana reverse mortgage? Click here for a free information kit!

Leading Lousiana Reverse Mortgage Companies

Lender Loans Total Principal Limit
AMERICAN ADVISORS GROUP 1,755 319,073,550
ONE REVERSE MORTGAGE LLC 949 147,597,790
WELLS FARGO 884 138,267,772
CAPITAL ONE NA 878 92,787,659
GMFS LLC 588 107,816,030
URBAN HOUSING MORTGAGE & REALTY GROUP L 553 96,472,650
BANK OF NEW ORLEANS 539 93,624,174
URBAN HOUSING MORTGAGE AND REALTY GROUP 427 58,232,000
WHITNEY NATIONAL BANK 421 65,990,144
STANDARD MORTGAGE CORPORATION 380 52,860,040
AMERICA'S MORTGAGE RESOURCE INC 375 88,863,507
FINANCE OF AMERICA REVERSE LLC 322 59,768,366
HOME MORTGAGEE CORP 261 21,269,955
GULF COAST BANK AND TRUST COMPANY 255 57,266,597
FINANCIAL FREEDOM SENIOR FUNDING CORP 229 28,791,732
REVERSE MORTGAGE SOLUTIONS INC 198 35,646,800
LIBERTY HOME EQUITY SOLUTIONS INC 193 32,380,500
METLIFE BANK NATIONAL ASSOCIATION 191 33,718,200
GENERATION MORTGAGE COMPANY 187 32,671,489
1ST AAA REVERSE MORTGAGE INC 139 20,734,320

Since 2012

Lender Loans Total Principal Limit
AMERICAN ADVISORS GROUP 1,535 287,479,750
ONE REVERSE MORTGAGE LLC 567 95,142,190
AMERICA'S MORTGAGE RESOURCE INC 367 87,620,607
URBAN HOUSING MORTGAGE & REALTY GROUP L 366 70,774,650
FINANCE OF AMERICA REVERSE LLC 183 39,234,400
LIBERTY HOME EQUITY SOLUTIONS INC 181 30,554,500
GMFS LLC 179 32,927,630
REVERSE MORTGAGE SOLUTIONS INC 160 28,299,400
GULF COAST BANK AND TRUST COMPANY 142 33,703,824
LIVE WELL FINANCIAL INC 121 22,649,700

Interested in a Louisiana reverse mortgage? Click here for a free information kit!

Monthly Reverse Mortgage Rates for Louisiana

Current Rates

Date Fixed Rate Adjustable Rate
2019-01-01 NA 5.14%
2019-02-01 4.92% 5.10%
2019-03-01 4.93% 5.00%
2019-04-01 NA 4.91%
2019-05-01 NA 5.03%
2019-06-01 NA 4.79%
2019-07-01 4.81% 4.62%
2019-08-01 NA 4.61%
2019-09-01 NA 4.48%
2019-10-01 NA 4.33%
2019-11-01 NA 4.29%
2019-12-01 NA 4.29%
2020-01-01 NA 4.35%
2020-02-01 NA 4.14%
2020-03-01 NA 4.08%
2020-04-01 NA 3.73%
2020-05-01 NA 3.66%
2020-06-01 NA 3.26%
2020-07-01 3.43% 3.39%
2020-08-01 3.56% 3.21%
2020-09-01 NA 3.24%
2020-10-01 NA 3.01%
2020-11-01 NA 2.75%
2020-12-01 NA 3.05%
2021-01-01 NA 2.99%
2021-02-01 NA 2.63%
2021-03-01 NA 2.70%
2021-04-01 NA 2.47%
2021-05-01 3.44% 2.49%
2021-06-01 NA 2.41%
2021-07-01 3.62% 2.23%
2021-08-01 3.06% 2.33%
2021-09-01 3.68% 2.15%
2021-10-01 NA 2.22%
2021-11-01 3.53% 2.09%
2021-12-01 3.31% 2.46%
2022-01-01 3.81% 2.66%
2022-02-01 NA 2.76%
2022-03-01 NA 3.19%
2022-05-01 NA 4.03%
2022-04-01 NA 3.45%
2022-06-01 NA 4.14%
2022-07-01 NA 4.42%

Historic Rates

Date Fixed Rate Adjustable Rate
2016-01-01 5.06% 3.61%
2016-02-01 4.96% 3.78%
2016-03-01 5.06% 3.81%
2016-04-01 5.06% 3.90%
2016-05-01 5.06% 3.93%
2016-06-01 5.06% 4.08%
2016-07-01 5.04% 4.16%
2016-08-01 5.06% 4.25%
2016-09-01 4.94% 4.43%
2016-10-01 4.79% 4.60%
2016-11-01 5.06% 4.52%
2016-12-01 5.06% 4.80%
2017-01-01 5.06% 4.70%
2017-02-01 5.06% 4.71%
2017-03-01 5.06% 4.60%
2017-04-01 5.06% 4.55%
2017-05-01 4.92% 4.46%
2017-06-01 5.06% 4.39%
2017-07-01 5.06% 4.45%
2017-08-01 5.06% 4.51%
2017-09-01 5.06% 4.47%
2017-10-01 5.06% 4.52%
2017-11-01 5.06% 4.60%
2017-12-01 4.96% 4.66%
2018-01-01 5.02% 4.61%
2018-02-01 4.90% 4.72%
2018-03-01 4.79% 4.64%
2018-04-01 4.82% 4.76%
2018-05-01 4.56% 4.81%
2018-06-01 4.78% 4.79%
2018-07-01 4.55% 4.85%
2018-08-01 4.79% 4.78%
2018-09-01 4.56% 4.93%
2018-10-01 4.71% 4.81%
2018-11-01 4.62% 4.86%
2018-12-01 NA 4.92%

Top Cities in Louisiana by Total HECM Loans Originated

Rank City Zip Total
1 NEW ORLEANS 70117 2,281
2 BATON ROUGE 70806 1,144
3 METAIRIE 70005 937
4 SHREVEPORT 71118 632
5 LAFAYETTE 70506 415
6 KENNER 70065 367
7 SLIDELL 70458 352
8 MARRERO 70072 330
9 LAKE CHARLES 70601 307
10 COVINGTON 70433 286
11 HOUMA 70364 235
12 GRETNA 70053 223
13 MONROE 71203 185
14 DENHAM SPRINGS 70726 182
15 MANDEVILLE 70448 179
16 WEST MONROE 71291 174
17 ALEXANDRIA 71303 166
18 BOSSIER CITY 71112 164
19 HARVEY 70058 159
20 NEW IBERIA 70560 118
21 LA PLACE 70068 116
22 HAMMOND 70401 114
23 PINEVILLE 71360 111
24 RIVER RIDGE 70123 110
25 WESTWEGO 70094 99
26 THIBODAUX 70301 99
27 CHALMETTE 70043 95
28 PONCHATOULA 70454 94
29 JEFFERSON 70121 93
30 BAKER 70714 89

HECM Housing Counselors

MONEY MANAGEMENT INTERNATIONAL METAIRIE
4051 VETRNS MEML BLVD STE 226
METAIRIE, LA 70002-5528
(866) 232-9080
http://www.moneymanagement.org

MONEY MANAGEMENT INTERNATIONAL – NEW ORLEANS
1215 PRYTANIA ST STE 336
NEW ORLEANS, LA 70130-4483
(866) 232-9080

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