Reverse Mortgage Industry

The global reverse mortgage market was valued at USD 1.83 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2030. A reverse mortgage is a specialized financial product aimed primarily at senior citizens, typically those aged 62 and older. It enables homeowners to convert a portion of their home equity into loan proceeds while retaining ownership and the right to reside in their home. The market’s growth is being driven by a combination of factors, including a steadily aging global population, increasing financial needs in retirement, and the continued rise in home values and accumulated equity. Moreover, rising awareness and improved financial literacy around reverse mortgage products are contributing to greater adoption, as more retirees come to understand how these instruments can help stabilize their post-retirement finances.

A significant demographic trend impacting the market is the global acceleration of population aging. The number of individuals aged 65 and older is projected to double by 2050, according to global health and population studies. This demographic shift is expected to fuel sustained demand for reverse mortgage products, as an increasing number of retirees look for ways to supplement limited pension incomes and manage growing healthcare and long-term care expenses. Since for many seniors, their primary residence constitutes their largest asset, reverse mortgages offer a strategic way to unlock this asset’s value without the emotional or logistical burden of selling or vacating their home. This makes reverse mortgages an attractive option for financial flexibility during retirement, especially in the face of economic uncertainty and inflationary pressures.

In response to evolving market demands and the diverse needs of aging borrowers, reverse mortgage providers are actively innovating to make their offerings more relevant and accessible. The introduction of more flexible loan structures—such as adjustable-rate reverse mortgages and jumbo reverse mortgages for high-value properties—has broadened the market’s appeal. These products allow seniors with higher-value homes to access larger loan amounts while tailoring loan terms to their individual needs. Furthermore, lenders are simplifying the borrowing experience through streamlined application procedures and targeted educational initiatives that dispel myths and misconceptions surrounding reverse mortgages. These efforts are reducing the stigma traditionally associated with such financial tools and are encouraging more seniors to explore them as viable retirement planning options.

In addition, the integration of digital technologies is transforming how reverse mortgage services are delivered. Innovations such as virtual consultations, automated underwriting systems, and digital document management platforms are significantly reducing processing times and increasing efficiency. These tech-driven enhancements not only make the borrowing process more transparent and user-friendly but also cater to the growing segment of tech-savvy seniors who prefer managing their finances online. As a result, these technological advancements are helping to expand the reach of reverse mortgage products and are playing a crucial role in driving the continued growth of the market.

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Reverse Mortgage Market Report Segmentation

  • Type Outlook (Revenue, USD Million, 2018 - 2030)
    • Home Equity Conversion Mortgages (HECMs)
    • Single-purpose Reverse Mortgages
    • Proprietary Reverse Mortgages
  • Application Outlook (Revenue, USD Million, 2018 - 2030)
    • Debt
    • Healthcare Related
    • Renovations
    • Income Supplement
    • Living Expenses
  • Regional Outlook (Revenue, USD Million, 2018 - 2030)
    • North America
      • US
      • Canada
      • Mexico
    • Europe
      • Germany
      • UK
      • France
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
    • Latin America
      • Brazil
    • Middle East & Africa
      • UAE
      • Kingdom of Saudi Arabia
      • South Africa

Key Reverse Mortgage Company Insights

  • American Advisors Group
  • Finance of America Reverse,
  • Reverse Mortgage Funding
  • Liberty Home Equity Solutions
  • One Reverse Mortgage
  • Mutual of Omaha Mortgage
  • HighTechLending
  • Fairway Independent Mortgage Corporation
  • Open Mortgage
  • Longbridge Financial

Recent Developments

  • In April 2024, Portfolio+ Inc., a Canadian provider of financial technologies, expanded its lending solutions portfolio by introducing a new reverse mortgage product. This innovative offering empowers lenders to provide their clients aged 55 and older with a valuable retirement planning tool, allowing them to access tax-free equity in their homes. This strategic move strengthens Portfolio+'s position as a comprehensive provider of financial services systems and technologies.

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