PUBLISHER: Grand View Research | PRODUCT CODE: 1575198
PUBLISHER: Grand View Research | PRODUCT CODE: 1575198
Reverse Mortgage Market Size, Share & Trends Analysis Report By Type, By Application (Debt, Healthcare Related, Renovations, Income Supplement, Living Expenses), By Region, And Segment Forecasts, 2024 - 2030
Reverse Mortgage Market Size & Trends:
The global reverse mortgage market size was estimated USD 1.83 billion in 2023 and is projected to grow at a CAGR of 5.9% from 2024 to 2030. A reverse mortgage is a financial product designed for seniors, typically aged 62 and older that allows them to convert part of their home equity into loan proceeds while retaining ownership of their home. The aging population retirement funding needs, and increasing home values and equity are major factors behind the growth of the market. In addition, increased awareness and education about reverse mortgages are contributing to their popularity, as more retirees become informed about how these products can enhance their financial stability.
The population across the globe is rapidly aging, with the number of people aged 65 and above expected to double by 2050. This demographic shift is a major driver of reverse mortgage demand, as retirees seek to supplement fixed incomes and cover rising healthcare costs. As home equity remains the largest asset for many seniors, reverse mortgages provide a way to access this wealth without selling or moving out of their homes. The need for alternative retirement funding solutions will continue to fuel growth in this market.
Reverse mortgage providers are continuously innovating and introducing new product features to meet the evolving needs of borrowers. The introduction of more flexible loan options, such as adjustable-rate mortgages and jumbo reverse mortgages for high-value homes, has expanded the potential customer base. Streamlined application processes and enhanced consumer education efforts have also helped to reduce the stigma associated with reverse mortgages and make them more appealing to a broader range of seniors. In addition, innovations such as virtual consultations, automated underwriting, and digital document management are reducing processing times and increasing accessibility. These technological developments are further attracting tech-savvy seniors and making the process more transparent and efficient, thereby driving the market's growth.
Governments and regulators in many countries are taking initiatives to create a more favorable environment for reverse mortgages. In the U.S., for instance, the Federal Housing Administration (FHA) has made several changes to the Home Equity Conversion Mortgage (HECM) program to improve consumer protections and reduce risk for lenders. These measures include mandatory financial assessments for borrowers, limits on upfront fees, and restrictions on the amount of equity that can be withdrawn initially. Similar regulatory reforms in other markets are expected to boost consumer confidence and lender participation in the reverse mortgage industry, which in turn, expected to boost market growth.
The high costs and fees associated with these reverse mortgage products could hamper the growth of the market. Reverse mortgages often come with substantial upfront costs, including origination fees, closing costs, and ongoing insurance premiums, which can deter potential borrowers. In addition, the complexity of reverse mortgage agreements and the potential impact on heirs' inheritance can create concern among seniors considering these options. Furthermore, seniors exploring reverse mortgages are at risk of exploitation by unscrupulous individuals, such as those promoting dubious investments, family members facing financial difficulties, or deceitful caretakers. Thus, the risk of exploitation could further hinder the market's growth.
Global Reverse Mortgage Market Report Segmentation
The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global reverse mortgage market based on type, application, and region.
- 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
- U.S.
- 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
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definitions
- 1.3. Information Procurement
- 1.4. Information Analysis
- 1.4.1. Market Formulation & Data Visualization
- 1.4.2. Data Validation & Publishing
- 1.5. Research Scope and Assumptions
- 1.6. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Driver Impact Analysis
- 3.3.2. Market Restraint Impact Analysis
- 3.3.3. Market Opportunity Impact Analysis
- 3.4. Industry Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.2. PESTEL Analysis
Chapter 4. Reverse Mortgage Market: Type Estimates & Trend Analysis
- 4.1. Type Movement Analysis & Market Share, 2023 & 2030
- 4.2. Reverse Mortgage Market Estimates & Forecast, By Type
- 4.2.1. Home Equity Conversion Mortgages (HECMs)
- 4.2.2. Single-purpose Reverse Mortgages
- 4.2.3. Proprietary Reverse Mortgages
Chapter 5. Reverse Mortgage Market: Application Estimates & Trend Analysis
- 5.1. Application Movement Analysis & Market Share, 2023 & 2030
- 5.2. Reverse Mortgage Market Estimates & Forecast, By Application
- 5.2.1. Debt
- 5.2.2. Healthcare Related
- 5.2.3. Renovations
- 5.2.4. Income Supplement
- 5.2.5. Living Expenses
Chapter 6. Reverse Mortgage Market: Regional Estimates & Trend Analysis
- 6.1. Reverse Mortgage Market: Regional Outlook
- 6.2. North America
- 6.2.1. North America reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.2.2. U.S.
- 6.2.2.1. U.S. reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.2.3. Canada
- 6.2.3.1. Canada Reverse Mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.2.4. Mexico
- 6.2.4.1. Mexico reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.3. Europe
- 6.3.1. Europe reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.3.2. Germany
- 6.3.2.1. Germany reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.3.3. U.K.
- 6.3.3.1. U.K. reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.3.4. France
- 6.3.4.1. France reverse mortgage ge market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Asia Pacific reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.4.2. China
- 6.4.2.1. China reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.4.3. India
- 6.4.3.1. India reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.4.4. Japan
- 6.4.4.1. Japan reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.4.5. Australia
- 6.4.5.1. Australia reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.4.6. South Korea
- 6.4.6.1. South Korea reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.5. Latin America
- 6.5.1. Latin America reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Brazil
- 6.5.2.1. Brazil reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.6. MEA
- 6.6.1. MEA reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.6.2. UAE
- 6.6.2.1. UAE reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.6.3. Kingdom of Saudi Arabia (KSA)
- 6.6.3.1. Kingdom of Saudi Arabia (KSA) reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
- 6.6.4. South Africa
- 6.6.4.1. South Africa reverse mortgage market estimates & forecasts, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Company Categorization
- 7.2. Company Market Share Analysis, 2023
- 7.3. Company Heat Map Analysis
- 7.4. Strategy Mapping
- 7.4.1. Expansion
- 7.4.2. Collaborations
- 7.4.3. Mergers & Acquisitions
- 7.4.4. New Product Launches
- 7.4.5. Partnerships
- 7.4.6. Others
- 7.5. Company Profiles
- 7.5.1. American Advisors Group
- 7.5.1.1. Company Overview
- 7.5.1.2. Financial Performance
- 7.5.1.3. Product Benchmarking
- 7.5.1.4. Strategic Initiatives
- 7.5.2. Mutual of Omaha Mortgage
- 7.5.2.1. Company Overview
- 7.5.2.2. Financial Performance
- 7.5.2.3. Product Benchmarking
- 7.5.2.4. Strategic Initiatives
- 7.5.3. Liberty Home Equity Solutions, Inc.
- 7.5.3.1. Company Overview
- 7.5.3.2. Financial Performance
- 7.5.3.3. Product Benchmarking
- 7.5.3.4. Strategic Initiatives
- 7.5.4. Home Point Financial
- 7.5.4.1. Company Overview
- 7.5.4.2. Financial Performance
- 7.5.4.3. Product Benchmarking
- 7.5.4.4. Strategic Initiatives
- 7.5.5. Mid America Mortgage, Inc.
- 7.5.5.1. Company Overview
- 7.5.5.2. Financial Performance
- 7.5.5.3. Product Benchmarking
- 7.5.5.4. Strategic Initiatives
- 7.5.6. Wells Fargo Home Mortgage
- 7.5.6.1. Company Overview
- 7.5.6.2. Financial Performance
- 7.5.6.3. Product Benchmarking
- 7.5.6.4. Strategic Initiatives
- 7.5.7. Bank of America
- 7.5.7.1. Company Overview
- 7.5.7.2. Financial Performance
- 7.5.7.3. Product Benchmarking
- 7.5.7.4. Strategic Initiatives
- 7.5.8. Apex Mortgage
- 7.5.8.1. Company Overview
- 7.5.8.2. Financial Performance
- 7.5.8.3. Product Benchmarking
- 7.5.8.4. Strategic Initiatives
- 7.5.9. Pinnacle Financial Group
- 7.5.9.1. Company Overview
- 7.5.9.2. Financial Performance
- 7.5.9.3. Product Benchmarking
- 7.5.9.4. Strategic Initiatives
- 7.5.10. Equity Release Council
- 7.5.10.1. Company Overview
- 7.5.10.2. Financial Performance
- 7.5.10.3. Product Benchmarking
- 7.5.10.4. Strategic Initiatives
- 7.5.1. American Advisors Group
List of Tables
- Table 1. Reverse mortgage market, 2018 - 2030 (USD Million)
- Table 2. Global market estimates and forecasts, by region, 2018 - 2030 (USD Million)
- Table 3. Global market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 4. Global market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 5. Home equity conversion mortgages (HECMs) market, by region, 2018 - 2030 (USD Million)
- Table 6. Single-purpose reverse mortgages market, by region, 2018 - 2030 (USD Million)
- Table 7. Proprietary reverse mortgages market, by region, 2018 - 2030 (USD Million)
- Table 8. Debt reverse mortgage market, by region, 2018 - 2030 (USD Million)
- Table 9. Healthcare related reverse mortgage market, by region, 2018 - 2030 (USD Million)
- Table 10. Renovations reverse mortgage market, by region, 2018 - 2030 (USD Million)
- Table 11. Income supplement reverse mortgage market, by region, 2018 - 2030 (USD Million)
- Table 12. Living expenses reverse mortgage market, by region, 2018 - 2030 (USD Million)
- Table 13. North America reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 14. North America reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 15. U.S. reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 16. U.S. reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 17. Canada reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 18. Canada reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 19. Mexico reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 20. Mexico reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 21. Europe reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 22. Europe reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 23. U.K. reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 24. U.K. reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 25. Germany reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 26. Germany reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 27. France reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 28. France reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 29. Asia Pacific reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 30. Asia Pacific reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 31. China reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 32. China reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 33. India reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 34. India reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 35. Japan reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 36. Japan reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 37. South Korea reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 38. South Korea reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 39. Australia reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 40. Australia reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 41. Latin America reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 42. Latin America reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 43. Brazil reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 44. Brazil reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 45. MEA reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 46. MEA reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 47. Kingdom of Saudi Arabia (KSA) reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 48. Kingdom of Saudi Arabia (KSA) reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 49. UAE reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 50. UAE reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 51. South Africa reverse mortgage market, by type, 2018 - 2030 (USD Million)
- Table 52. South Africa reverse mortgage market, by application, 2018 - 2030 (USD Million)
- Table 53. Company Market Share, 2023
- Table 54. Company Heat Map Analysis
- Table 55. Key companies undergoing expansion
- Table 56. Key companies undergoing collaborations
- Table 57. Key companies undergoing new product launch
- Table 58. Key companies undergoing mergers & acquisitions
- Table 59. Key companies undergoing other strategies
List of Figures
- Fig. 1 Reverse Mortgage Market Segmentation
- Fig. 2 Information Procurement
- Fig. 3 Information Analysis
- Fig. 4 Market Formulation & Data Visualization
- Fig. 5 Data Validation & Publishing
- Fig. 6 Reverse Mortgage Market Snapshot
- Fig. 7 Segment Snapshot
- Fig. 8 Competitive Landscape Snapshot
- Fig. 9 Reverse Mortgage Market Value, 2023 & 2030 (USD Million)
- Fig. 10 Reverse Mortgage - Industry Value Chain Analysis
- Fig. 11 Reverse Mortgage Market - Market Dynamics
- Fig. 12 Reverse Mortgage Market: PORTER's Analysis
- Fig. 13 Reverse Mortgage Market: PESTEL Analysis
- Fig. 14 Reverse Mortgage Market, by Type: Key Takeaways
- Fig. 15 Reverse Mortgage Market, by Type: Market Share, 2023 & 2030
- Fig. 16 Reverse Mortgage Market, by Application: Key Takeaways
- Fig. 17 Reverse Mortgage Market, by Application: Market Share, 2023 & 2030
- Fig. 18 Reverse Mortgage Market, by Region, 2023 & 2030 (USD Million)
- Fig. 19 Regional Marketplace: Key Takeaways
- Fig. 20 North America Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 21 U.S. Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 22 Canada Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 23 Mexico Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 24 Europe Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 25 Germany Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 26 U.K. Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 27 France Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 28 Asia Pacific Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 29 China Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 30 India Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 31 Japan Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 32 Australia Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 33 South Korea Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 34 Latin America Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 35 Brazil Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 36 MEA Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 37 U.A.E. Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 38 Kingdom of Saudi Arabia Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 39 South Africa Reverse Mortgage Market Estimates & Forecast, 2018 - 2030 (USD Million)
- Fig. 40 Company Market Share Analysis, 2023
- Fig. 41 Strategic Framework
