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Homebridge Financial Services review

A multi-service financial services company with a reputable reverse mortgage solution

Our Verdict

Homebridge Financial Services has really solid customer reviews across most of the solutions in its portfolio and it has a well-designed, highly accessible and detailed reverse mortgage process that ensures you know what to expect, how much to pay and why.

For

  • Visible, well-designed website with clear information
  • A variety of financial services to expand on your investments

Against

  • Not approved by the Federal Housing Administration
  • They can be pricy

Are you looking for a reverse mortgage? We've done all the research to bring you our guide to the best reverse mortgages around. But right here you'll find our comprehensive review to Homebridge Financial Services. 

 Homebridge Financial Services: What you need to know

Homebridge Financial Services is not accredited by the Better Business Bureau (BBB) but the company has been in business for more than 25 years and has ensured that every part of the process is as transparent as possible. The company offers instant access to reverse mortgage information, costs and assessments through its dedicated reverse mortgage pages, and it includes customer reviews on the site to showcase how well it’s received by existing clients. The company does have an excellent rating on other customer review networks so its reputation is solid and its offering considered very reliable by most. 

Homebridge Financial Services: How does the reverse mortgage process work

  • Plenty of information and support 
  • Transparency into costs and processes 
Homebridge Financial Services: Key features

Application process: Online information kit, personalized application process
Interest rates: Fixed, variable and five flexible payment options
Fees: insurance, origination fee, closing costs, lending fees.  

While Homebridge Financial Services does make it a little tricky to find out how to apply for your reverse mortgage, once you’ve figured your way around the site, you’ll appreciate how much effort they’ve put into giving you information. You will immediately find a resources page with links to expected costs, how to get the process started, the paperwork you’ll need and information into why you should even consider a reverse mortgage in the first place. The company has an entire page dedicated to explaining how you can get started with the process – something a few competitors could definitely learn from (yes, we’re looking at you InterContinental Capital Group). While many of the company’s other financial products can be managed online, the reverse mortgage process is done with an advisor who will guide you through the various steps.

Your first step is to meet with a reverse mortgage loan originator who will help you figure out if this loan is the right fit for your life and style, then you will complete an application form and undergo counseling to ensure that you are ready for this commitment and understand the fine print. Once these steps have been completed, you will then undergo a home appraisal and, if your home passes this stage, the process will go into the underwriting phase and then close. You will be guided throughout the reverse mortgage application to ensure that you’re completely comfortable with the financial commitment you’re making

Homebridge Financial Services: How easy is it to use the system and find information

  • Accessible, well-designed website 
  • Plenty of information and support 

While Homebridge Financial Services doesn’t have a reverse mortgage calculator, it does constantly direct you to a Learn More button that directs you to a form that asks you to fill in your basic information. Once you’ve done so, the company will get in touch to provide you with all the information you need around interest rates, fees, costs, and eligibility. There is a very strong emphasis on the personal touch with this company as the entire reverse mortgage process involves a dedicated consultant and plenty of hands-on discussion and support.

In addition to the information form, you can find plenty of details hidden around the website. The Resources section includes insights into why reverse mortgages can benefit you, how to apply, basic interest rate information and eligibility requirements, and some of the legalities. The search function is not available so you do have to do a spot of frustrating digging to find very specific information – it’s actually easier to simply Google their services one by one as the pages are very quickly found that way. 

Homebridge Financial Services has paid attention to what people want to know before they embark on the process and have endeavored to put it all in front of you from the start.

Homebridge Financial Services: Is it transparent, accessible and usable?

  • Transparent system with plenty of hand holding 
  • Good customer reviews overall 

Homebridge Financial Services is transparent about pretty much everything. The company has made it easy to find the costs, easy to locate the fine print and it’s also made the various hiccups and concerns that often surround reverse mortgages very easy to understand.  They don’t shy away from the common concerns raised by people when it comes to reverse mortgages, instead they put the information in front of you so that you can make an informed choice. The company is licensed in all 50 sites, offers plenty of support, and has a fairly open door policy. As a non-bank lender, it’s got different requirements for loans so it’s a bit more accessible that some of the more traditional service providers.

As for customer service, Consumer Affairs gives it an impressive four stars out of five with most customers praising Homebridge Financial Services for its honesty, transparency and support. The few negative reviews on the site are about the loan terms and contractors used to fulfill specific obligations while the positive ones praise the company for its knowledgeable and helpful staff.

Homebridge Financial Services: Verdict

Homebridge Financial Services is a great option for people who want a personalized experience and who perhaps aren’t winning when it comes to the more stringent requirements of traditional banks. It’s an excellent fit for people who want a lot of information at their fingertips and who need to know exactly what they’re doing every step of the way. If you want an accredited BBB company or a standard bank, then this isn’t the right stop for you.