Longbridge Financial is one of the fastest-growing names in the reverse mortgage market. Unlike banks that dabble in multiple products, Longbridge focuses almost entirely on reverse mortgages, which gives it a more specialized and personal feel. For families helping a parent navigate their options, the company’s reputation for patience and clear explanations stands out. Still, there are trade-offs, and it’s essential to consider both the strengths and the frustrations that sometimes arise in customer stories.
How Longbridge Reverse Mortgages Work
The application steps are similar to those of other lenders, including HUD counseling, a formal application, a home appraisal, underwriting, and closing. Most loans finish in about six weeks. That’s not the fastest turnaround in the industry, but Longbridge earns positive marks for making sure borrowers understand each stage.
Reddit discussions echo this theme. Some families describe Longbridge as one of the more supportive lenders, with underwriting that feels easier to navigate than that of its competitors. Others, however, have shared frustration about redundant paperwork requests or communication missteps that slowed their closing. These mixed stories underscore the importance of staying organized and maintaining accurate records of all submitted materials.
Strengths and Weaknesses
Strengths
- Reputation for patience and clear communication
- No monthly servicing fee, unlike some competitors
- Strong ratings with BBB and Trustpilot
Weaknesses
- The closing process can stretch longer than average
- Occasional communication gaps or redundant document requests
- All-digital service may feel less approachable for seniors who prefer in-person interactions.
Longbridge Reverse Mortgages
- Free quote and easy application process
- All HECM programs available
- A+ rating with the BBB and HUD approved direct lender and servicer
- 4.9 out of 5 Trustpilot rating
- Longbridge Reverse Mortgage Review
Longbridge has built a reputation for patience and clarity, helping seniors feel comfortable throughout the reverse mortgage process. Borrowers appreciate the step-by-step explanations and the absence of monthly servicing fees, which can result in significant savings over time.
- Pros: Clear communication, no monthly servicing fees, strong BBB and Trustpilot ratings
- Cons: Slightly slower closings, all-digital model may not suit everyone
Company Background
Founded in 2012, Longbridge is a direct lender that offers federally insured HECM loans as well as proprietary “jumbo” reverse mortgages for higher-value homes. The company has grown quickly and is accredited with an A+ rating from the Better Business Bureau. Online reviews frequently highlight supportive loan officers and a willingness to walk seniors through the details of what can be a confusing product.
Costs and Fees
Longbridge’s fees align with industry standards, including origination charges, closing costs, and FHA insurance. One notable difference is that the company does not charge a monthly servicing fee, which can save families money over time. Interest rates are competitive, although they fluctuate in response to broader market conditions.
Customer Experience
Customer sentiment is generally favorable. Longbridge maintains strong Trustpilot scores and an A+ BBB rating, with a relatively low number of complaints for a national lender. Borrowers often praise the friendliness and accessibility of loan officers, especially for seniors who may feel overwhelmed by financial jargon.
That said, no lender is perfect. Some complaints point to organizational hiccups — such as paperwork going missing or a process that felt drawn out. These aren’t universal experiences, but they underscore the need for families to stay proactive.
How Longbridge Compares
Compared to Finance of America, Longbridge feels more boutique and less sales-driven. Where Finance of America leans on recognition and brand trust, Longbridge positions itself as a careful guide. Families who want more time, less pressure, and fewer fees may find Longbridge appealing, while those who prioritize speed or the reassurance of a household name might lean toward bigger players.
Rating Scale
We compared Longbridge against the best reverse mortgage companies across four core categories. Here’s how it stacked up.
- Customer Experience: (4.5/5)
- Fees & Costs: (4/5)
- Product Options: (4/5)
- Speed of Process: (3.5/5)
- Overall Score: (4.2/5)
AssistedKin’s Top 5 Reverse Mortgage Companies
| Lender | Recommended For | Key Strength | Editor's Rating | Next Steps |
|---|---|---|---|---|
| Longbridge Financial | Best for Customer Support | Patient, detailed guidance with no monthly servicing fees | 4.2 | Explore Loan Options |
| All Reverse Mortgage (ARLO) | Best for Transparency | Online calculator and consistently strong customer reviews | 4.4 | Explore Loan Options |
| Mutual of Omaha | Best for Trust Factor | Backed by a century-old brand trusted by millions of households | 4.0 | Explore Loan Options |
| Guild Mortgage | Best for Community Lending | Long history and local branch presence for in-person service | 3.9 | Explore Loan Options |
| Finance of America Reverse | Best for Product Options | Wide range of loans, including jumbo/proprietary reverse mortgages | 4.3 | Explore Loan Options |
Final Thoughts
Longbridge Financial has carved out a strong reputation in a relatively short time by emphasizing clarity and customer care. Families helping parents decide on a reverse mortgage may appreciate the slower, steadier process, provided they’re comfortable with the extra patience it requires.
Frequently Asked Questions
Answers to common questions about Longbridge reverse mortgages.
Yes. Longbridge is FHA-approved, accredited by the BBB, and well-reviewed by borrowers.
On average, around six weeks — slower than some competitors but generally manageable.
Origination and closing costs, plus FHA insurance premiums, but no monthly servicing fee.
Seniors and families who value detailed explanations and supportive loan officers, even if it means waiting a little longer for funds.
