Compare top reverse lenders in Rhode Island.

Compare top reverse lenders in Rhode Island
Receive your free HECM quote today in RI. 

What is a reverse mortgage?

HECM stands for home equity conversion mortgage. Reverse mortgages allow for seniors to release a portion of the home’s equity to eliminate any existing mortgage payments. HECM’s are unique in that there are no monthly mortgage payments required – no other program has this unique feature. 

More than 600,000 seniors have taken out a reverse mortgage loan to improve their retirement, your not alone.

Compare HECM Lenders in RI for free with RMLD – Let us find you the best program.

Seniors in RI qualify for a reverse mortgage if…

  • they are 62 years of age or older
  • own their homes
  • have equity available in the property
  • can afford to pay for the home’s property taxes and insurance
  • have never defaulted on governemnt insured loans

I qualify for the HECM reverse mortgage how does this program improve my retirement?

  • improve your retirement qualify by having access to your equity today
  • no more mortgage payments while you are living in the home
  • interest rates are at all time low’s
  • ability to spend the equity as you wish – no restrictions are placed on the funds
  • no taxes are applied to the equity you release

“There is no other program which allows seniors to access their home’s equity without having payment in retirement.”

How Does the Reverse Mortgage Work in Rhode Island?

You have worked hard your entire life to build up your home’s equity, insn’t it time that your home paid you back? Well, FHA (Federal Housing Administration) insures the HECM reverse mortgage which allows you to use your home as a tool to fund your retirement.

Many seniors are still having to pay each month a mortgage payment this is seriously impacting the quality of those seniors retirement. What if you could use all the built up equity in your home to generate a new income source, this would greatly improve the quality of your retirement.

This is what the reverse mortgage program was designed for. Seniors are taking advantage of the low interest rate enviroment and the ability to qualify for a reverse mortgage loan without having income or credit scores to meet. There are no payments to be made (you are only responsible for the property taxes, insurance, and home maintanance expenses). It will cost you $0 to find our your options give us a call today.

Snapshot of Rhode Island

1.1 M

Population

$133,000

Median Home Value

60%

Home Ownership Rate

14%

Percent PopulationOver 65

Find Your City to Compare State and National Averages

LOCATION POPULATION MED. HOME VALUE HOME OWNERSHIP RATE % POPULATION OVER 65
USA 307,006,550 $119,600 66% 13%
Rhode Island 1,053,209 $133,000 60% 14%
Cranston 81,479 $122,500 67% 17%
East Providence 49,123 $117,900 59% 19%
Newport 24,409 $161,700 42% 13%
Pawtucket 72,998 $99,000 44% 15%
Providence 175,255 $101,500 35% 11%
Warwick 85,925 $111,700 73% 17%
Woonsocket 43,940 $112,800 35% 15%

Local Reverse Mortgage Lenders/Banks/Brokers in Rhode Island

A

Adamsville · Albion · Ashaway

B

Barrington · Block Island · Bradford · Bristol · Brown Station · Burrillville

C

Carolina · Central Falls · Charlestown · Chepachet · Clayville · Coventry · Cranston · Cumberland

E

East Greenwich · East Providence · Escoheag · Exeter

F

Fiskeville · Forestdale · Foster · Friar Station

G

Glendale · Greene · Greenville

H

Harmony · Harrisville · Hope · Hope Valley · Hopkinton

J

Jamestown · Johnston

K

Kenyon · Kingston

L

Lincoln · Little Compton

M

Manville · Mapleville · Middletown

N

Narragansett · New Shoreham · Newport · North Kingstown · North Providence · North Scituate · North Smithfield

O

Oakland

P

Pascoag · Pawtucket · Peace Dale · Point Judith · Portsmouth · Providence · Prudence Island

R

Richmond · Riverside · Rockville · Rumford

S

Saunderstown · Scituate · Shannock · Slatersville · Slocum · Smithfield · South Kingstown

T

Tiverton

W

Wakefield · Warren · Warwick · West Greenwich · West Kingston · West Warwick · Westerly · Wood River Junction · Woonsocket · Wyoming

HUD’s list of approved HECM Counselors in Rhode Island.
Counseling is mandatory in all states for those who wish to get a HECM loan.

HECM Counseling Agency Roster as of 06/05/2013
(2 records were selected, 2 records displayed.)
Name Agency ID Address Phone Web Site
MONEY MANAGEMENT INTERNATIONAL WARWICK 80665 501 CENTERVILLE RD FL 2
WARWICK,  RI  02886-4367
(866) 232-9080 http://www.moneymanagement.org
NEIGHBORWORKS BLACKSTONE RIVER VALLEY 84015 719 FRONT ST UNIT 103
WOONSOCKET,  RI  02895-5278
(401) 762-0074  ext 208 https://www.neighborworksbrv.org
COASTWAY COMMUNITY BANK
1 COASTWAY PLZ
CRANSTON, RI 02910
PROVIDENCE County
Title II
Approval Date: Jul 20, 1994 [81 Areas Approved for Business]
HECM: Yes Originates 203K: Yes
Telephone: (401) 330-1668 FAX Number: (401) 330-1669
E-Mail Address: sfry@coastway.com
Anchor
LIBERTY HOME EQUITY SOLUTIONS INC
8 RED CROSS AVE
NEWPORT, RI 02840
NEWPORT County
Title II
Approval Date: Feb 01, 2012 [81 Areas Approved for Business]
HECM: Yes Originates 203K: No
Telephone: (800) 218-1415 FAX Number: (866) 409-3840
E-Mail Address: reverseinfo@Libertyhomeequity.com
Anchor
SEMPER HOME LOANS INC
225 DUPONT DR
PROVIDENCE, RI 02907
PROVIDENCE County
Title II
Approval Date: Mar 22, 2007 [81 Areas Approved for Business]
HECM: Yes Originates 203K: Yes
Telephone: (401) 632-0330 FAX Number: (401) 632-0883
E-Mail Address: msecuro@semperhomeloans.com
Anchor
SHAMROCK FINANCIAL CORPORATION
75 NEWMAN AVE
RUMFORD, RI 02916
PROVIDENCE County
Title II
Approval Date: Jan 22, 1999 [81 Areas Approved for Business]
HECM: Yes Originates 203K: Yes
Telephone: (401) 228-9591 FAX Number: (401) 228-9592
E-Mail Address: trish.HARRINGTON@SHAMROCKFINANCIAL.COM
Anchor
SIERRA PACIFIC MORTGAGE
2733 POST RD
WARWICK, RI 02886
KENT County
Title II
Approval Date: Jun 02, 2011 [81 Areas Approved for Business]
HECM: Yes Originates 203K: No
Telephone: (401) 384-6970 FAX Number: (401) 384-6972
E-Mail Address: sal.petrilli@spm1.com
Anchor
STEARNS LENDING INC
931 JEFFERSON BLVD STE 1002
WARWICK, RI 02886
KENT County
Title II
Approval Date: Feb 18, 2010 [81 Areas Approved for Business]
HECM: Yes Originates 203K: No
Telephone: (877) 361-4466 FAX Number: (877) 364-4466
E-Mail Address: cviera@fpfwholesale.com