Mutual of Omaha Mortgage review

Reviewed by the Editorial Team · Updated July 10, 2026 · 6 min read

The mortgage arm of the Mutual of Omaha brand, active in both forward loans and reverse mortgages for older homeowners.

Mutual of Omaha Mortgage by the numbers

Source: federal HMDA data (2025), FFIEC/CFPB. *Approval rate = loans originated ÷ (originated + denied). It reflects a lender's channel and borrower mix — wholesale, online and refi-heavy lenders run lower because many applications are rate shops that never close — not how hard it is to work with. See our approval-rate breakdown.

Mutual of Omaha Mortgage at a glance

Mutual of Omaha Mortgage is a nonbank lender headquartered in Omaha, Nebraska, and operated as a wholly owned subsidiary of Omaha Financial Holdings, Inc. It carries the name of Mutual of Omaha, the well-known insurance and financial-services organization founded in 1909 and structured as a mutual company owned by its policyholders.

The mortgage arm was assembled largely through acquisition: the reverse-mortgage lender Retirement Funding Solutions was rebranded under the Mutual of Omaha name, and later deals such as the purchase of Keller Mortgage expanded its forward-lending footprint.

The result is a lender with two distinct sides, a conventional home-loan operation and one of the largest reverse-mortgage practices in the country.

In 2025, HMDA data show Mutual of Omaha originated 24,192 mortgages worth about $7.8 billion, with an average loan of roughly $322,806. It approved 76.7% of the applications it acted on and denied 7,337.

Where Mutual of Omaha Mortgage's approval rate sits

Mutual of Omaha Mortgage's 2025 approval rate of 76.7% sits against the 76.6% national average. Read it as a signal of channel, not strictness — wholesale, online and refinance-heavy lenders run lower because so many applications are rate shops that never close.

That places it in the mid-tier of national lenders by volume, well behind the largest nonbanks but with a meaningful nationwide presence. Its heaviest states were California (3,018 loans), Florida (2,753), North Carolina (2,210), Ohio (2,028), and Texas (2,007).

The company is licensed to lend across most of the U.S.; New York is a notable exception where it does not originate.

What sets Mutual of Omaha apart is scale in reverse mortgages. It is one of the nation's leading originators of FHA-insured Home Equity Conversion Mortgages (HECMs), and it also offers a proprietary jumbo reverse product.

That specialization shapes its identity as much as its everyday purchase and refinance business.

Who Mutual of Omaha Mortgage is best for

Mutual of Omaha suits two very different audiences. Everyday buyers and refinancers get a full menu of conventional, FHA, VA, and USDA loans from a lender with a recognizable name and publicly posted rates.

Separately, homeowners aged 62 and older exploring a reverse mortgage will find one of the country's most established HECM specialists, backed by a large insurance-affiliated parent.

Loan programs at Mutual of Omaha Mortgage

Its most notable programs and specialties:

• Conventional purchase and refinance loans (fixed- and adjustable-rate), plus jumbo financing
• FHA, VA, and USDA government-backed purchase and refinance loans
• Rate-and-term and cash-out refinancing on forward mortgages
• FHA-insured Home Equity Conversion Mortgages (HECM reverse mortgages) for homeowners 62 and older
• HECM for Purchase, letting older buyers use a reverse mortgage to buy a new primary residence
• SecureEquity proprietary jumbo reverse mortgage, offered above standard HECM limits without FHA insurance

Typical industry minimum down payment by core loan type — Mutual of Omaha Mortgage's own minimums or credit overlays may run higher:

Where Mutual of Omaha Mortgage lends most

By federal HMDA records, Mutual of Omaha Mortgage's largest 2025 markets were California, Florida, North Carolina, Ohio and Texas. Explore local rates, home prices and down-payment assistance for each:

The verdict

Mutual of Omaha Mortgage is worth a look on two fronts: as a mainstream lender with conventional and government-backed loans and transparent posted rates, and as one of the nation's leading reverse-mortgage specialists.

Standard borrowers should still compare its rates and closing costs against several lenders. Older homeowners weighing a reverse mortgage should complete the required counseling and understand the long-term cost and equity trade-offs before committing.

How to compare Mutual of Omaha Mortgage

Shopping a few lenders is the single most reliable way to save. Before you commit to Mutual of Omaha Mortgage:

1. Get three or more Loan Estimates in a two-week window — the bureaus treat it as one inquiry.
2. Compare the APR, not just the headline rate — it folds in the fees.
3. Weigh service and loan-type fit, not price alone.
4. Verify licensing on NMLS Consumer Access (Mutual of Omaha Mortgage's HMDA filer ID: 549300OPCWU6E72WUT29).

Benchmark whatever you're quoted against today's the national rate benchmark.

This review is editorial and independent — Mutual of Omaha Mortgage did not pay for or approve it, and all figures are from public federal data. It is general information, not a recommendation or personalized advice. Confirm all terms directly with the lender.