Reverse mortgage in Michigan
HUD's own loan records show who lends in Michigan, where the loans are and who counsels there.
- In Michigan, 450 HECMs closed over one year
- The Median home value HUD counted was $275,500
- Longbridge Financial had the most HECMs in Michigan (126)
According to HUD's HECM data, 450 reverse mortgages closed in Michigan between September 2025 and August 2026, 1.8% of the 24,529 recorded nationwide, ranking 20th among the 50 states and DC.
Among these, 4 helped buyers purchase a home using a HECM for Purchase, 60 came from refinancing an older HECM and 8 hit the $1,249,125 limit on value.
Michigan HECMs compared with national figures
The final two rows come from the calculator.
| Michigan | Against all HECMs | |
|---|---|---|
| HECMs closed | 450 | 1.8% of all 24,529 |
| Median home value counted | $275,500 | $164,500 less |
| Median principal limit | $121,262 | $72,910 less |
| Principal limit as a share of value | 42.6% | 0.8 points lower |
| Median expected rate | 5.875% | the same |
| HECM for Purchase | 0.9% | 4.6 points lower |
| Refinanced HECMs | 13.3% | 2.5 points higher |
| Lenders with a loan here | 19 | of 34 nationwide |
| At age 70, with a median home and no mortgage: amount left after costs | $92,578 | $58,962 less |
| Usable in the first year at age 70 | $50,041 | $33,563 less |
Michigan HECM lenders ranked by loan count
HECMs in Michigan had 19 sponsoring lenders. Together, the top three lenders made 318 of the 450 loans (71%): Longbridge Financial, Mutual of Omaha Mortgage and Finance of America Reverse. Compare with the national ranking.
| Rank | Lender | HECMs | Share |
|---|---|---|---|
| 1 | Longbridge Financial | 126 | 28% |
| 2 |  | 96 | 21.3% |
| 3 | Finance of America Reverse | 96 | 21.3% |
| 4 | Traditional Mortgage Acceptance Corporation | 37 | 8.2% |
| 5 | South River Mortgage | 24 | 5.3% |
| 6 | PHH Mortgage | 14 | 3.1% |
| 7 | Plaza Home Mortgage | 13 | 2.9% |
| 8 | Guild Mortgage | 8 | 1.8% |
| 9 | High Tech Lending | 6 | 1.3% |
| 10 | University Bank | 5 | 1.1% |
HECMs in Michigan originated by local lenders and brokers
Michigan HECM applications were received by 61 companies. Beyond the national names above, the top originators were Atlantic Avenue Mortgage (41), The Reverse Mortgage Center (24), Loandepot.com (11). Kaye Financial (5), Carrington Mortgage Services (5) and Caliver Beach Mortgage (5) followed, then Union Home Mortage (4) and West Capital Lending (3). These counts are of the company that originated each loan, while the ranking above counts the lender that sponsored it, so the two lists are not comparable.
Where Michigan HECMs were originated
Wayne County ranked first with 56 of the 450 loans, while Oakland followed with 46. Detroit had the most at 22, followed by Traverse City (10), Grand Rapids (10), Lansing (7) and Muskegon (7). City names are the mailing city on each HUD record and can reach into nearby counties, so a city's count need not match the county table.
| County | HECMs | Share |
|---|---|---|
| Wayne | 56 | 12.4% |
| Oakland | 46 | 10.2% |
| Macomb | 27 | 6% |
| Kent | 25 | 5.6% |
| Muskegon | 17 | 3.8% |
| Genesee | 15 | 3.3% |
Reverse mortgage counselors with HUD-approved status in Michigan
Based in Michigan across 2 cities, 4 reverse mortgage counseling agencies appear on HUD's list. Their phone numbers are in HUD's counselor search.
| City | Agency | How they counsel | Languages |
|---|---|---|---|
| Farmington Hills, MI | Greenpath Financial Wellness | phone | English, Spanish |
| Farmington Hills, MI | Greenpath | phone, in person | English, Spanish |
| Pontiac, MI | Oakland County Housing Counseling | phone, in person, online, group | English |
| Pontiac, MI | Oakland Livingston Human Service Agency | in person | English, Spanish |
Property tax relief for Michigan homeowners who are older
If you are an older Michigan homeowner, you may qualify to get the Homestead Property Tax Credit. This may help with some of the taxes on your property. Michigan Treasury Reminds Seniors About Tax Credits and Other Benefits.
Who oversees reverse mortgage lenders in Michigan
In Michigan, the Department of Insurance and Financial Services looks at whether mortgage companies are following state and federal mortgage laws. Details: Mortgage Compliance FAQ.
The data comes from the HUD HECM portfolio snapshot, covering September 2025 through August 2026. Every state.