Texas Reverse Mortgages Guide

Texas is the second most populous state in America with a population of over 25 million. Around 3.8 million Texans are 60 or older, a number that is expected to grow to over 12 million by 2050. Because many of these seniors are homeowners with significant home equity built up, the reverse mortgage market in Texas is one of the largest in the United States.

On this page, you will find information, data and statistics designed to help you make an informed decision:

  1. The Largest HECM Lenders in TX
  2. Current & Historical Interest Rates
  3. HUD Approved Housing Counselors in Texas

Want to learn more? Click here to get free information about a Texas reverse mortgage!

Top Texas Reverse Mortgage Lenders

Nearly 60,000 home equity conversion mortgage (HECM) loans have been originated in Texas, the third highest amount in the country behind California and Florida. Below, you will find the top lenders of all time and the top since 2012, when Bank of America and Wells Fargo exited the reverse mortgage business.

All Time Leaders for Texas:

Lender Loans Total Principal Limit
WELLS FARGO 11,032 1,492,381,044
AMERICAN ADVISORS GROUP 10,780 2,473,385,113
ONE REVERSE MORTGAGE LLC 4,753 765,016,917
1ST AAA REVERSE MORTGAGE INC 3,308 430,062,187
FINANCE OF AMERICA REVERSE LLC 3,024 732,485,706
FINANCIAL FREEDOM SENIOR FUNDING CORP 2,794 332,342,680
BANK OF AMERICA 1,925 299,899,029
GRIFFIN FINANCIAL MORTGAGE LLC 1,886 201,423,646
REVERSE MORTGAGE USA INC 1,376 211,950,970
LIBERTY HOME EQUITY SOLUTIONS INC 1,358 255,543,870
METLIFE BANK NATIONAL ASSOCIATION 1,275 221,097,800
MUTUAL OF OMAHA MORTGAGE INC. 1,269 459,982,218
MONTGOMERY MORTGAGE INC 1,128 149,223,146
REVERSE MORTGAGE FUNDING LLC 1,078 288,407,011
1ST AA REVERSE MORTGAGE INC 967 145,678,350
ASPIRE FINANCIAL INC 961 147,370,400
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 944 302,753,949
NETWORK FUNDING LP 927 157,620,699
JUDITH O SMITH MORTGAGE GROUP INC 912 117,584,183
GENERATION MORTGAGE COMPANY 835 132,341,205

Since 2012, the Top Reverse Mortgage Companies in Texas:

Lender Loans Total Principal Limit
AMERICAN ADVISORS GROUP 10,102 2,373,184,763
ONE REVERSE MORTGAGE LLC 2,669 478,810,020
FINANCE OF AMERICA REVERSE LLC 2,151 603,166,081
LIBERTY HOME EQUITY SOLUTIONS INC 1,273 241,922,070
MUTUAL OF OMAHA MORTGAGE INC. 1,269 459,982,218
REVERSE MORTGAGE FUNDING LLC 1,078 288,407,011
ADVISORS MORTGAGE GROUP LLC 791 209,630,290
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 777 284,321,319
REVERSE MORTGAGE SOLUTIONS INC 659 115,931,950
OPEN MORTGAGE LLC 657 167,290,591

Want to learn more? Click here to get free information about a reverse mortgage in Texas!

Interest Rates

Every month, HUD reports every Texas reverse mortgage from the HECM program that is originated in Texas. Below, you will find the average rate for fixed and adjustable rate loans over the past one year+. Since it is often difficult to find these interest rates online, we hope that this table will prove useful to you.

Current Rates

Date Fixed Rate Adjustable Rate
01/01/19 4.90% 5.11%
02/01/19 4.76% 5.05%
03/01/19 4.65% 5.02%
04/01/19 4.68% 4.82%
05/01/19 4.77% 4.80%
06/01/19 4.93% 4.74%
07/01/19 4.92% 4.60%
08/01/19 4.72% 4.29%
09/01/19 4.56% 4.19%
10/01/19 4.43% 4.37%
11/01/19 4.39% 4.36%
12/01/19 4.18% 4.24%
01/01/20 5.02% 4.18%
02/01/20 4.56% 4.19%
03/01/20 4.49% 4.08%
04/01/20 NA 3.89%
05/01/20 4.31% 3.51%
06/01/20 3.35% 3.36%
07/01/20 3.50% 3.26%
08/01/20 3.56% 3.17%
09/01/20 3.29% 3.12%
10/01/20 3.26% 3.05%
11/01/20 3.34% 2.99%
12/01/20 3.23% 2.89%
01/01/21 3.28% 2.84%
02/01/21 3.10% 2.84%
03/01/21 3.23% 2.67%
04/01/21 3.27% 2.50%
05/01/21 3.38% 2.39%
06/01/21 3.50% 2.32%
07/01/21 3.27% 2.26%
08/01/21 3.38% 2.27%
09/01/21 3.38% 2.31%
10/01/21 3.43% 2.28%
11/01/21 3.44% 2.33%
12/01/21 3.42% 2.33%
01/01/22 3.53% 2.45%
02/01/22 3.31% 2.60%
03/01/22 3.63% 2.84%
05/01/22 3.85% 3.80%
04/01/22 3.75% 3.22%
06/01/22 5.00% 4.12%
07/01/22 5.02% 4.59%
08/01/22 5.59% 5.10%
09/01/22 5.01% 5.52%
10/01/22 5.74% 5.96%
11/01/22 5.97% 6.65%
12/01/22 6.93% 6.97%
01/01/23 6.23% 7.07%
02/01/23 5.56% 7.16%
03/01/23 6.15% 7.37%
04/01/23 6.56% 7.08%
05/01/23 NA 7.10%
06/01/23 NA 7.28%
07/01/23 7.61% 7.53%
08/01/23 NA 7.74%
09/01/23 6.56% 7.75%
10/01/23 NA 7.76%
11/01/23 NA 7.80%
12/01/23 NA 7.67%
01/01/24 NA 7.58%
02/01/24 NA 7.28%
03/01/24 3.50% 7.23%

Historic Rates

Date Fixed Rate Adjustable Rate
01/01/15 4.99% 2.83%
02/01/15 5.00% 2.86%
03/01/15 5.01% 2.95%
04/01/15 5.00% 3.03%
05/01/15 4.99% 3.11%
06/01/15 5.02% 3.16%
07/01/15 4.98% 3.22%
08/01/15 4.95% 3.21%
09/01/15 4.94% 3.17%
10/01/15 5.02% 3.21%
11/01/15 4.98% 3.26%
12/01/15 4.99% 3.40%
01/01/16 4.98% 3.46%
02/01/16 4.97% 3.69%
03/01/16 4.99% 3.83%
04/01/16 5.02% 3.98%
05/01/16 4.92% 4.06%
06/01/16 5.01% 4.17%
07/01/16 5.00% 4.26%
08/01/16 4.92% 4.33%
09/01/16 5.00% 4.47%
10/01/16 4.97% 4.63%
11/01/16 4.94% 4.71%
12/01/16 4.89% 4.79%
01/01/17 5.00% 4.82%
02/01/17 4.94% 4.76%
03/01/17 5.01% 4.65%
04/01/17 5.00% 4.53%
05/01/17 5.01% 4.47%
06/01/17 5.04% 4.42%
07/01/17 4.99% 4.42%
08/01/17 5.04% 4.49%
09/01/17 4.99% 4.51%
10/01/17 5.03% 4.52%
11/01/17 5.01% 4.58%
12/01/17 5.03% 4.65%
01/01/18 4.92% 4.68%
02/01/18 4.84% 4.71%
03/01/18 4.86% 4.66%
04/01/18 4.87% 4.70%
05/01/18 4.60% 4.82%
06/01/18 4.62% 4.80%
07/01/18 4.59% 4.76%
08/01/18 4.60% 4.71%
09/01/18 4.72% 4.69%
10/01/18 4.77% 4.81%
11/01/18 4.83% 4.90%
12/01/18 4.84% 4.99%

TX Cities with Most HECM Loans Originated

Rank City Zip Total
1 DALLAS 75216 584
2 GEORGETOWN 78633 432
3 DALLAS 75241 413
4 DALLAS 75232 403
5 AUSTIN 78745 389
6 EL PASO 79936 381
7 BURLESON 76028 371
8 HOUSTON 77033 352
9 HOUSTON 77016 350
10 AMARILLO 79109 346
11 FORT WORTH 76133 342
12 EL PASO 79925 339
13 EL PASO 79912 327
14 DALLAS 75228 310
15 RICHARDSON 75080 309
16 FORT WORTH 76112 306
17 KERRVILLE 78028 305
18 AUSTIN 78723 303
19 GRAND PRAIRIE 75052 302
20 FORT WORTH 76119 300
21 GARLAND 75043 299
22 NEW BRAUNFELS 78130 296
23 EL PASO 79915 295
24 EL PASO 79924 294
25 HOUSTON 77021 291
26 MESQUITE 75150 287
27 GRANBURY 76049 281
28 CARROLLTON 75006 272
29 MESQUITE 75149 272
30 DESOTO 75115 272

Click here to get free information about a Texas reverse mortgage!

HUD Housing Counselors in Texas

Before obtaining a reverse mortgage, you’ll need to speak to a housing counselor. We’ve put together this list of options for residents of Texas.

CCCS OF GREATER DALLAS – AMARILLO
SUITE A-506
1619 S. KENTUCKY
AMARILLO,  TX  79102-2239
(806) 358-2221
http://www.cccs.net

CCCS OF GREATER DALLAS – AUSTIN
1016 LA POSADA DR.
ONE LA COSTA
AUSTIN,  TX  78752
(512) 447-0711

CCCS OF GREATER DALLAS, INC.
SUITE 200
8737 KING GEORGE DRIVE
DALLAS,  TX  75235-2222
(214) 638-2227

CREDIT COALITION
3300 LYONS AVE # 203A
HOUSTON,  TX  77020-8252
(713) 224-8100

DALLAS COUNTY HOME LOAN COUNSELING CENTER
2377 N STEMMONS FWY # 724
DALLAS,  TX  75207-2710
(214) 819-6060
http://www.dallascounty.org

HOUSING OPPORTUNITIES OF FORT WORTH
1065 W MAGNOLIA AVE STE B
FORT WORTH,  TX  76104-4477
(817) 923-9192
http://www.hud.gov

MONEY MANAGEMENT INTERNATIONAL HOUSTON/FUQUA
11550 FUQUA ST STE 350
HOUSTON,  TX  77034-4200
(866) 232-9080

MONEY MANAGEMENT INTERNATIONAL HOUSTON/GREENWAY PLAZA
3800 BUFFALO SPEEDWAY, SUITE 162
HOUSTON,  TX  77098-3706
(866) 232-9080

MONEY MANAGEMENT INTERNATIONAL HUMBLE
125 W MAIN ST
HUMBLE,  TX  77338-4391
(866) 232-9080

MONEY MANAGEMENT INTERNATIONAL INC.
14141 SOUTHWEST FWY
SUGAR LAND,  TX  77478-3493
(866) 232-9080

MONEY MANAGEMENT INTERNATIONAL LUBBOCK
2503 74TH ST STE 105
LUBBOCK,  TX  79423-1409
(866) 232-9080

NATIONAL COMMUNITY REINVESTMENT COALITION, INC.
701
AUSTIN,  TX  78702
(512) 385-1500

NAVICORE SOLUTIONS- DALLAS, TX
SUITE 134
17440 DALLAS PKWY
DALLAS,  TX  75287-7336
(972) 732-6767

NID-HCA FORT WORTH WIMBISH
6737 BRENTWOOD STAIR RD STE 112
FORT WORTH,  TX  76112-3336
(817) 507-0670

Want to learn more? Click here to get free information about reverse mortgages in Texas!