Mutual of Omaha is a household name in insurance and financial services, and its mortgage division has emerged as a significant player in the reverse mortgage market. For families who want the reassurance of working with a brand they already know, Mutual of Omaha offers a blend of corporate stability and approachable service. While not the largest originator in the space, its reputation and long history in financial services make it a strong contender.
How Mutual of Omaha Reverse Mortgages Work
The application process follows the standard pattern: HUD counseling, loan application, appraisal, underwriting, and closing. Mutual of Omaha’s reverse loan officers are often praised for making the process approachable and for maintaining clear communication. Borrowers describe the company as steady and professional, though not necessarily faster than the competition. Timelines typically fall within the four- to six-week range.
Because Mutual of Omaha is part of a larger financial services company, the reverse mortgage team operates more like a division than a boutique shop. This means the process is structured and reliable, although borrowers occasionally note that it can feel less personalized than with smaller, reverse-mortgage-only lenders.
Strengths and Weaknesses
Strengths
- Backed by a well-known, trusted national brand
- Professional, approachable loan officers
- Clear communication throughout the process
Weaknesses
- Service may feel more corporate than personalized
- Fees are average, not especially low.
- Not as specialized as reverse-only lenders like Longbridge
Mutual of Omaha Reverse Mortgages
- Turn retirement dreams into reality
- Receive your funds as a lump sum
- Supplement your income with monthly payments
- Create a line of credit for unplanned expenses
- Mutual of Omaha Reverse Mortgage Review
Mutual of Omaha brings the reassurance of a nationally recognized brand with over a century of history. Its reverse mortgage division isn’t the largest, but families often feel more comfortable working with a household name.
- Pros: Trusted brand, professional loan officers, steady communication
- Cons: Fees are average, less specialized than reverse-only lenders
Company Background
Founded in 1909, Mutual of Omaha is best known for its insurance products and services. The company expanded into mortgages, including reverse mortgages, as part of its financial services portfolio. This diversification gives Mutual of Omaha a distinct feel compared to specialized lenders: it’s not just a reverse mortgage company, but a broader financial brand trusted by millions of households.
For seniors and families, that trust factor can make a big difference. Many borrowers report feeling more comfortable working with a company they’ve heard of for decades rather than a name that’s new to them.
Costs and Fees
Mutual of Omaha’s costs are consistent with industry averages. Expect the standard mix of origination fees, closing costs, and insurance premiums. While not the lowest-cost lender, Mutual of Omaha doesn’t carry a reputation for inflated fees either. Families considering multiple lenders should request a detailed quote to compare side by side.
Customer Experience
Borrowers tend to highlight Mutual of Omaha’s professionalism and clear communication. Reviews often mention that loan officers were patient in explaining details and helping seniors feel comfortable with the decision.
On the other hand, a few families have noted that the process can feel somewhat corporate — efficient, but not as personalized as what you might find at a smaller lender. Still, the brand’s reputation and longevity seem to outweigh these minor concerns for most borrowers.
How Mutual of Omaha Compares
Compared to Finance of America, Mutual of Omaha feels less aggressive in its sales approach. Against Longbridge, it feels larger and more corporate, but with the benefit of a century-old brand reputation. For families seeking stability, Mutual of Omaha offers reassurance; however, those looking for highly tailored support may prefer more specialized providers.
Rating Scale
We compared Mutual of Omaha’s reverse mortgages against those of the best reverse mortgage companies across four core categories. Here’s how it stacked up.
- Customer Experience: (4/5)
- Fees & Costs: (4/5)
- Product Options: (4/5)
- Speed of Process: (4/5)
- Overall Score: (4.0/5)
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
Mutual of Omaha stands out less for being the cheapest or fastest option and more for the credibility its brand brings. Families who want the reassurance of a nationally recognized financial company may find this lender particularly appealing. While not the most personalized experience in the market, Mutual of Omaha offers steady, professional service, making it a reliable choice for many seniors.
Frequently Asked Questions
Answers to common questions about Mutual of Omaha reverse mortgages.
Yes. While not the largest, Mutual of Omaha has emerged as a significant player in the reverse mortgage market.
They’re in line with industry averages — not unusually low, but not inflated either.
Typically, the process takes four to six weeks from counseling to closing.
Seniors who want the reassurance of working with a trusted, nationally recognized brand.
