One Reverse Mortgage

time icon 6 min read update icon Sept. 20, 2019
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One Reverse Mortgage has helped seniors ages 62 and older secure brighter financial futures through reverse mortgages. 

Founded in 2001 and headquartered in San Diego, California, One Reverse Mortgage is now the second-largest retail reverse mortgage lender in the United States. The company understands that retirement should come with financial peace of mind; that’s why it strives to provide multiple options to ensure your retirement can be enjoyed the way you’ve always planned. 

A reverse mortgage can be used for many reasons, including eliminating debt, covering living expenses, building a nest egg or paying medical expenses. By implementing a simplified application process, One Reverse Mortgage makes the process of obtaining a reverse mortgage easy. Oftentimes, the entire process can be completed from the comfort of your own home.

Grandfolk Scoring
Customer support 9/10
Licensure 9/10
Online tools 10/10
Products 10/10
Third-party reviews 4/10
Local agents 10/10
Fully accredited 10/10
Cost 9/10
Cancellation 9/10
Established company 9/10
Guarantee 8/10
Ease 9/10
Customer support
How do I reach customer support?
By phone or email
Is the company licensed in all 50 states?
Online tools
Are online tools and advice provided?
Yes, including a reverse mortgage calculator
What products are offered?
Three types of home equity conversion mortgages
Third-party reviews
Does the company provide independent reviews?
No, but previous client reviews can be viewed online
Local agents
Can borrowers search for local agents?
The website provides a map with all the licensed agents in each state
Fully accredited
Is AAG accredited by the Better Business Bureau?
One Reverse Mortgage is fully accredited by the Better Business Bureau
What fees are involved?
Depends on your individual reverse mortgage
What if I am not satisfied?
You can cancel within a three-day window
Established company
How long has the company been in business?
One Reverse Mortgage was founded in 2001
Does the company provide a guarantee?
No, but almost all reverse mortgages are federally guaranteed
Is it easy to get started?
Yes, simply call the company or go online
Age Score:
50-64 Years
65-74 Years
75-84 Years

As you near retirement, you may hear the term “reverse mortgage” being used more frequently.Though not all seniors may find a reverse mortgage to be a practical resource, for the right candidate, a reverse mortgage can be used as an important financial tool. The most attractive advantage of a reverse mortgage is that no repayment is required on the loan as long as the property remains your primary residence. 

Oftentimes, seniors are discouraged to apply because they realize that living on fixed incomes from pensions, retirement accounts or Social Security, almost always guarantees a denial based on income. However, with a reverse mortgage, your income is not a qualifying factor for approval. Also, any proceeds received from the loan are not considered income, therefore, your Medicaid, Social Security benefits, Medicare or Supplemental Security Income will not be affected. 

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For your convenience, One Reverse Mortgage offers a selection of home equity conversion mortgages.The Adjustable Rate HECM is a popular option. It provides financial flexibility that can be utilized in a variety of ways. If you obtain an Adjustable Rate HECM, the loan profits can be received as a line of credit, a disbursement each month, a one-time lump sum payment or a combination of the three. The loan proceeds can be used to delay other retirement benefits and investments, which in turn can cause those benefits and investments to increase in value.

A Fixed Rate HECM is another popular option, in which funds are disbursed in a lump sum payout and the interest rate is locked in at closing. The interest rate does not change for the term of the loan. You may find this option especially attractive if you are looking to pay your living expenses, medical costs or required home repairs. Additionally, it should be noted that all of the loan options offered by One Reverse Mortgage are insured by the FHA and can be customized to fit your individual needs.


  • In 2008, Rock Holdings, owned by Quicken Loans, purchased One Reverse Mortgage.
  • One Reverse Mortgage is an approved lender of the U.S. Department of Housing and Urban Development.
  • As with all reverse mortgages offered on the market, the loan only comes due when the home no longer serves as the primary residence for the last eligible homeowner.
  • Proceeds from the loan are tax-free, and there is no debt left to the heirs or estate.
  • One Reverse Mortgage’s website contains a multitude of resources, such as information relating to financial counseling and resources to help you decide if a reverse mortgage is right for you.
  • Previous borrowers stated that the financing fees were fair and reasonably priced. 
  • One Reverse Mortgage consistently ranks in the top ten largest reverse mortgage originators.
  • The company’s advertising and commercials are tasteful and informative.


  • Upon finalization of the loan, all closing costs and other fees will be financed into the loan, reducing the actual funds received.
  • Previous customers described the process as being confusing and very time consuming due to multiple requests by the company to resubmit documents.
  • A reverse mortgage may include much higher fees than traditional mortgages. A borrower may end up paying as much as $50 thousand in fees alone, 
  • The parent company, Quicken Loans, is an Internet-based lender. Borrowers should be comfortable with completing the process primarily online and by phone.In person meetings usually only occur during the closing of the loan. 

Bottom Line:

One Reverse Mortgage was founded in 2001 and has grown to become one of the best-known brands in the industry.Its parent company, Quicken Loans, also has a stellar reputation in the financial industry. The company offers a wide range of online resources and information to help provide guidance in the decision-making process. The company has a large team of licensed professionals that are knowledgeable and qualified to work with seniors. 

The company has helped thousands of people live a better retirement with the help of a reverse mortgage. One Reverse Mortgage is a proud member of the National Reverse Mortgage Lenders Association (NRMLA). Since 2001, the company has helped thousands of seniors gain financial freedom with the help a reverse mortgage.

Frequently Asked Questions:

If the decision to obtain a reverse mortgage was made prematurely, can a borrower later reverse the loan or cancel it?

Once the application is signed, a three-day “right of rescission” period begins. During the rescission period, the applicant can cancel the application with no penalties. 

What are the obligations of the borrower?

A borrower must continue to pay all property-related expenses, including property taxes, homeowner’s or condo association dues and hazard insurance. The borrower must also maintain the property to FHA standards and conditions.To remain in compliance, the borrower is required to certify on an annual basis.

Is there help available if the borrower is struggling to meet the obligations of the reverse mortgage?

Borrowers who are not able to meet the terms of their loan are recommended to contact a financial counselor. A financial counselor will review the financial circumstances and work to refer the borrower to other resources that might be able to provide budget assistance and help the borrower to retain their home. 

More Information:

Product Details

Overview: Founded in 2001, One Reverse Mortgage is one of the largest retail reverse mortgage lenders in the country.

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Optional Accessories or Add-on Services, if any:  N/A

Additional Company Details

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Warranty: N/A

Accreditations: One Reverse Mortgage has an accredited business profile with the Better Business Bureau and maintains an A+ rating.  Company Details: One Reverse Mortgage is licensed to operate in all 50 states, and is second-largest retail reverse mortgage lender in the country.The company has over40 employees and an estimated annual revenue of $4 million.


One Reverse Mortgage
4445 Eastgate Mall
Ste 320
San Diego, CA 92121
Tel: 800-784-2536

T. Mashae Pearson - Senior Advisor

Shae is senior researcher with Grandfolk® providing in-depth product and service reviews to empower senior buying decisions.