Any description of the reverse mortgage industry's huge potential seems like an understatement, so we'll let a few reverse mortgage statistics tell the story.
20 million
The market itself, the number of seniors in the U.S. who could take out a reverse mortgage today, exceeds 20 million. And with the baby boomers about to reach retirement age, statistics show that the number of seniors eligible for a reverse mortgage will more than double in the next ten years.
<1%
"Market penetration", the number of seniors who have actually taken a reverse mortgage, is something less than one percent. So you can see that even with huge growth in recent years, the untapped potential in the reverse mortgage market remains enormous.
$42 billion
Finally, consider the income opportunity for financial professionals. The reverse mortgage origination fee potential has been estimated at $42 billion.
Of course, financial compensation is just part of what makes the reverse mortgage business so rewarding. Reverse mortgage professionals also value something that's harder to measure: the good feeling that comes from helping seniors live more comfortable, worry-free lives.