Maryland’s total population is nearly 6 million. There are over 1 million seniors in the state, making up over 18% of the population. By 2030, this number is expected to grow to over 25%. In 2010, there were nearly 95,000 who were 80-84, which is expected to grow to nearly 219,255. Over half of the seniors who live in Maryland reside in Baltimore and nearby counties.
Want to learn more? Click here to get free information about a reverse mortgage!
Among seniors living in MD, there is a growing interest in the Department of Housing and Urban Development’s HECM program. This program, better known as a reverse mortgage, provides a way for individuals who are 62 or older to tap into their home equity while remaining in their houses. We put this page together to provide important information related to this market in Maryland, and we’ve included other relevant senior housing resources that we hope you will find useful:
- The biggest reverse mortgage companies in Maryland
- Recent and historic reverse interest rates
- HECM housing counselors near you in MD
Top Maryland Reverse Mortgage Lenders
To date, over 30,000 of these loans have been originated in MD. Until recently, the top lenders were large banks such as Wells Fargo, as you can see from the table below.
All Time:
| Lender | Loans | Total Principal Limit |
| WELLS FARGO | 3,919 | 1,024,326,057 |
| ACADEMY MORTGAGE LLC | 1,770 | 422,059,859 |
| AMERICAN ADVISORS GROUP | 1,599 | 483,033,282 |
| NET EQUITY FINANCIAL INC | 1,296 | 310,453,370 |
| FINANCIAL FREEDOM SENIOR FUNDING CORP | 1,268 | 303,558,025 |
| M AND T BANK | 1,257 | 312,348,404 |
| BANK OF AMERICA | 864 | 231,589,949 |
| FIRST MARINER BANK | 836 | 207,981,439 |
| HARVARD HOME MORTGAGE INC | 724 | 180,434,926 |
| ONE REVERSE MORTGAGE LLC | 666 | 173,556,753 |
| MAS ASSOCIATES | 574 | 122,653,815 |
| COOPER AND SHEIN LLC | 572 | 127,478,966 |
| FIDELIS MORTGAGE LLC | 524 | 162,494,009 |
| 1ST MARYLAND MORTGAGE CORPORATION | 510 | 113,863,350 |
| AMERICAN HOME LOAN INC | 503 | 117,321,011 |
| METLIFE BANK NATIONAL ASSOCIATION | 494 | 148,669,804 |
| REVERSE MORTGAGE ANSWERS LLC | 451 | 152,129,950 |
| NFM INC | 446 | 96,012,810 |
| SEATTLE MORTGAGE COMPANY | 431 | 112,729,649 |
| SAVINGS FIRST MORTGAGE LLC | 401 | 90,685,939 |
Since 2012
| Lender | Loans | Total Principal Limit |
| AMERICAN ADVISORS GROUP | 1,479 | 453,787,762 |
| REVERSE MORTGAGE ANSWERS LLC | 440 | 149,385,950 |
| ONE REVERSE MORTGAGE LLC | 430 | 117,265,158 |
| NET EQUITY FINANCIAL INC | 393 | 106,072,670 |
| M AND T BANK | 356 | 97,660,842 |
| FINANCE OF AMERICA REVERSE LLC | 322 | 112,775,390 |
| REVERSE MORTGAGE FUNDING LLC | 267 | 108,525,290 |
| MUTUAL OF OMAHA MORTGAGE INC. | 223 | 94,895,363 |
| LIBERTY HOME EQUITY SOLUTIONS INC | 185 | 52,398,337 |
| FRANK J. WEAVER INC. | 183 | 58,414,580 |
Want to learn more? Click here to get free information about a reverse mortgage!
Maryland Reverse Mortgage Rates
Here are average interest rates on HECM fixed and adjustable rate loans in MD since 2014. This table was compiled using data published monthly by HUD, with a two month delay. It is useful for getting a feel for what kind of interest rates might be out there when you’re start shopping for a loan.
Current Rates
| Date | Fixed Rate | Adjustable Rate |
| 2019-01-01 | 4.60% | 5.19% |
| 2019-02-01 | 5.04% | 4.95% |
| 2019-03-01 | NA | 4.91% |
| 2019-04-01 | NA | 4.72% |
| 2019-05-01 | NA | 4.70% |
| 2019-06-01 | 5.06% | 4.64% |
| 2019-07-01 | NA | 4.49% |
| 2019-08-01 | 4.93% | 4.37% |
| 2019-09-01 | 5.06% | 4.02% |
| 2019-10-01 | 3.99% | 4.25% |
| 2019-11-01 | NA | 4.13% |
| 2019-12-01 | NA | 4.13% |
| 2020-01-01 | NA | 4.09% |
| 2020-02-01 | NA | 4.02% |
| 2020-03-01 | NA | 3.94% |
| 2020-04-01 | NA | 3.54% |
| 2020-05-01 | 4.15% | 3.43% |
| 2020-06-01 | NA | 3.09% |
| 2020-07-01 | NA | 3.17% |
| 2020-08-01 | NA | 3.08% |
| 2020-09-01 | NA | 3.06% |
| 2020-10-01 | 2.98% | 2.91% |
| 2020-11-01 | 3.43% | 3.12% |
| 2020-12-01 | NA | 2.97% |
| 2021-01-01 | 3.20% | 2.73% |
| 2021-02-01 | 3.35% | 2.78% |
| 2021-03-01 | 3.43% | 2.58% |
| 2021-04-01 | 3.56% | 2.55% |
| 2021-05-01 | 3.39% | 2.47% |
| 2021-06-01 | 3.31% | 2.23% |
| 2021-07-01 | 3.29% | 2.18% |
| 2021-08-01 | 3.56% | 2.26% |
| 2021-09-01 | NA | 2.30% |
| 2021-10-01 | 3.43% | 2.12% |
| 2021-11-01 | 3.25% | 2.34% |
| 2021-12-01 | 3.28% | 2.15% |
| 2022-01-01 | 3.31% | 2.41% |
| 2022-02-01 | 3.62% | 2.52% |
| 2022-03-01 | 3.31% | 2.92% |
| 2022-05-01 | 3.56% | 3.79% |
| 2022-04-01 | NA | 3.14% |
| 2022-06-01 | NA | 4.05% |
| 2022-07-01 | 3.31% | 4.58% |
| 2022-08-01 | NA | 5.18% |
| 2022-09-01 | NA | 5.42% |
| 2022-10-01 | NA | 6.23% |
| 2022-11-01 | NA | 6.81% |
| 2022-12-01 | NA | 7.23% |
| 2023-01-01 | NA | 7.09% |
| 2023-02-01 | NA | 7.02% |
| 2023-03-01 | NA | 7.22% |
| 2023-04-01 | NA | 7.18% |
| 2023-05-01 | NA | 7.17% |
| 2023-06-01 | NA | 7.24% |
| 2023-07-01 | NA | 7.45% |
| 2023-08-01 | NA | 7.74% |
| 2023-09-01 | NA | 7.69% |
| 2023-10-01 | NA | 7.73% |
| 2023-11-01 | NA | 7.78% |
| 2023-12-01 | 7.99% | 7.75% |
| 2024-01-01 | NA | 7.56% |
| 2024-02-01 | NA | 7.36% |
| 2024-03-01 | NA | 7.26% |
| 2024-04-01 | NA | 7.41% |
| 2024-05-01 | NA | 7.55% |
| 2024-06-01 | NA | 7.47% |
| 2024-07-01 | NA | 7.45% |
Historic Rates
| Date | Fixed Rate | Adjustable Rate |
| 2014-01-01 | 5.05% | 2.60% |
| 2014-02-01 | 5.04% | 2.58% |
| 2014-03-01 | 5.02% | 2.73% |
| 2014-04-01 | 5.00% | 2.70% |
| 2014-05-01 | 5.07% | 2.73% |
| 2014-06-01 | 5.01% | 2.64% |
| 2014-07-01 | 4.98% | 2.68% |
| 2014-08-01 | 5.05% | 2.77% |
| 2014-09-01 | 5.00% | 2.68% |
| 2014-10-01 | 5.03% | 2.71% |
| 2014-11-01 | 4.95% | 2.75% |
| 2014-12-01 | 4.81% | 2.79% |
| 2015-01-01 | 5.02% | 2.80% |
| 2015-02-01 | 5.02% | 2.88% |
| 2015-03-01 | 5.03% | 2.96% |
| 2015-04-01 | 4.93% | 3.06% |
| 2015-05-01 | 5.02% | 3.10% |
| 2015-06-01 | 4.99% | 3.13% |
| 2015-07-01 | 5.06% | 3.21% |
| 2015-08-01 | 4.95% | 3.26% |
| 2015-09-01 | 4.96% | 3.22% |
| 2015-10-01 | 5.04% | 3.34% |
| 2015-11-01 | 5.06% | 3.25% |
| 2015-12-01 | 4.84% | 3.43% |
| 2016-01-01 | 5.06% | 3.58% |
| 2016-02-01 | 5.06% | 3.70% |
| 2016-03-01 | 4.95% | 3.77% |
| 2016-04-01 | 5.06% | 3.87% |
| 2016-05-01 | 5.06% | 4.02% |
| 2016-06-01 | 4.45% | 4.09% |
| 2016-07-01 | 5.05% | 4.21% |
| 2016-08-01 | 4.97% | 4.29% |
| 2016-09-01 | 5.04% | 4.56% |
| 2016-10-01 | 5.06% | 4.58% |
| 2016-11-01 | 4.90% | 4.58% |
| 2016-12-01 | 4.95% | 4.57% |
| 2017-01-01 | 4.99% | 4.66% |
| 2017-02-01 | 4.95% | 4.61% |
| 2017-03-01 | 4.72% | 4.56% |
| 2017-04-01 | 5.06% | 4.55% |
| 2017-05-01 | 5.08% | 4.38% |
| 2017-06-01 | 4.96% | 4.38% |
| 2017-07-01 | 5.05% | 4.38% |
| 2017-08-01 | 4.98% | 4.44% |
| 2017-09-01 | 4.99% | 4.46% |
| 2017-10-01 | 5.05% | 4.49% |
| 2017-11-01 | 4.91% | 4.59% |
| 2017-12-01 | 4.97% | 4.58% |
| 2018-01-01 | 4.97% | 4.58% |
| 2018-02-01 | 4.96% | 4.63% |
| 2018-03-01 | 4.75% | 4.65% |
| 2018-04-01 | 4.96% | 4.62% |
| 2018-05-01 | 4.65% | 4.78% |
| 2018-06-01 | 4.67% | 4.80% |
| 2018-07-01 | 4.39% | 4.81% |
| 2018-08-01 | 4.77% | 4.86% |
| 2018-09-01 | 4.62% | 4.79% |
| 2018-10-01 | 4.25% | 4.89% |
| 2018-11-01 | 4.76% | 4.94% |
| 2018-12-01 | 4.65% | 5.31% |
Leading MD Cities by Reverse Mortgage Origination
| Rank | City | Zip | Total |
| 1 | BALTIMORE | 21215 | 1,109 |
| 2 | BALTIMORE | 21229 | 742 |
| 3 | BALTIMORE | 21207 | 569 |
| 4 | BALTIMORE | 21216 | 543 |
| 5 | PASADENA | 21122 | 541 |
| 6 | CAPITOL HEIGHTS | 20743 | 525 |
| 7 | BALTIMORE | 21218 | 525 |
| 8 | FORT WASHINGTON | 20744 | 378 |
| 9 | ANNAPOLIS | 21401 | 366 |
| 10 | GLEN BURNIE | 21061 | 354 |
| 11 | BALTIMORE | 21222 | 353 |
| 12 | TEMPLE HILLS | 20748 | 344 |
| 13 | BALTIMORE | 21213 | 343 |
| 14 | SILVER SPRING | 20906 | 342 |
| 15 | BALTIMORE | 21212 | 334 |
| 16 | BALTIMORE | 21239 | 328 |
| 17 | BALTIMORE | 21206 | 324 |
| 18 | BALTIMORE | 21224 | 320 |
| 19 | UPPER MARLBORO | 20774 | 313 |
| 20 | GLEN BURNIE | 21060 | 312 |
| 21 | BALTIMORE | 21234 | 308 |
| 22 | RANDALLSTOWN | 21133 | 271 |
| 23 | HAGERSTOWN | 21740 | 270 |
| 24 | BERLIN | 21811 | 265 |
| 25 | BALTIMORE | 21217 | 263 |
| 26 | LANHAM | 20706 | 258 |
| 27 | ANNAPOLIS | 21403 | 251 |
| 28 | CLINTON | 20735 | 237 |
| 29 | DISTRICT HEIGHTS | 20747 | 223 |
| 30 | SALISBURY | 21804 | 218 |
Maryland Housing Counselors
If you’re serious about pursuing a reverse mortgage, you’ll eventually need to complete counseling mandated by the Federal Housing Administration. You can complete this with a counselor on the telephone, or you can find a convenient office near you and meet in person. You’ll find a directory of HECM counselors below, and you can also consult with your lender to see if there are additional options.
CCCS OF MARYLAND AND DELAWARE
757 FREDERICK RD FL 2
BALTIMORE, MD 21228-4500
(410) 747-2050
http://www.cccs-inc.org
CECIL COUNTY HOUSING AGENCY
200 CHESAPEAKE BLVD STE 1800
ELKTON, MD 21921-6682
(410) 996-8215
http://www.ccgov.org/dept_housing/index.cfm
CLEARPOINT CREDIT COUNSELING SOLUTIONS – LANHAN BRANCH
SUITE 236
10104 SENATE DR
LANHAM, MD 20706-4392
(877) 877-1995
http://www.clearpointccs.org
DRUID HEIGHTS COMMUNITY DEVELOPMENT CORP.
2140 MCCULLOH ST
BALTIMORE, MD 21217-3529
(410) 523-1350
http://www.druidheights.com
FREDERICK COMMUNITY ACTION AGENCY
100 S MARKET ST
FREDERICK, MD 21701-5527
(301) 600-1506
www.cityoffrederick.com/fcaa
HARFORD COUNTY HOUSING AGENCY
15 S MAIN ST STE 106
BEL AIR, MD 21014-8723
(410) 638-3045
http://www.harfordhousing.org
HOMEFREE – U S A
6200 BALTIMORE AVENUE
RIVERDALE, MD 20737-1054
(301) 891-8400
https://HomeFreeUSA.org
HOWARD COUNTY OFFICE ON AGING
6751 COLUMBIA GATEWAY DR
COLUMBIA, MD 21046-2164
(410) 313-5980
SOUTHEAST COMMUNITY DEVELOPMENT CORPORATION
3323 EASTERN AVE
BALTIMORE, MD 21224-4109
(410) 342-3234
http://www.southeastcdc.org
WASHINGTON COUNTY COMMUNITY ACTION COUNCIL
101 SUMMIT AVE
HAGERSTOWN, MD 21740-5508
(301) 797-4161
http://www.wccac.org
More Resources
Maryland Department on Aging
Foreclosure Assistance
Discrimination Complaints
Community Services Locator
