Mutual of Omaha Mortgage review: rates, costs & calculator
The mortgage arm of the Mutual of Omaha brand, active in both forward loans and reverse mortgages for older homeowners.
Mutual of Omaha Mortgage rates: what borrowers actually paid
Mutual of Omaha Mortgage prices each borrower individually, but federal loan-level records show what its borrowers actually got. On 2,240 conventional 30-year fixed purchase loans with at least 20% down closed in 2025, the median rate was 6.50% and the median APR was in line with the typical lender's, with $5,787 in loan costs.
| 2025 home purchases | Loans | Median rate | APR vs benchmark | Loan costs | With points |
|---|---|---|---|---|---|
| Conventional · Mutual of Omaha Mortgage | 2,240 | 6.50% | −0.01 | $5,787 | 57% |
| Conventional · all lenders | 700,082 | 6.50% | +0.02 | $5,476 | 53% |
| FHA · Mutual of Omaha Mortgage | 1,013 | 6.25% | +0.48 | $11,976 | 65% |
| FHA · all lenders | 516,729 | 6.25% | +0.42 | $11,291 | 59% |
| VA · Mutual of Omaha Mortgage | 1,120 | 6.00% | −0.52 | $7,465 | 54% |
| VA · all lenders | 291,383 | 6.125% | −0.36 | $6,554 | 59% |
What the numbers say
- On conventional loans, Mutual of Omaha Mortgage priced about like the market: a median APR −0.01 percentage points against the benchmark, versus +0.02 for all lenders.
- Other loan types: FHA 0.07 percentage points above the market (1,013 loans); VA 0.15 percentage points below the market (1,120 loans).
- Borrowers paid a median $5,787 in loan costs — $311 more than the $5,476 typical across all lenders.
- Its borrowers took larger loans (median $395,000 vs $325,000), which moves dollar costs and can move rates too.
How Mutual of Omaha Mortgage compares on conventional loans
| Lender | Loans | Median rate | APR vs benchmark | Loan costs | Lender credits |
|---|---|---|---|---|---|
| Mutual of Omaha Mortgage | 2,240 | 6.50% | −0.01 | $5,787 | 47% |
| United Wholesale Mortgage | 57,444 | 6.50% | +0.02 | $7,032 | 46% |
| Rocket Mortgage | 35,588 | 6.50% | +0.01 | $5,816 | 3% |
| CrossCountry Mortgage | 22,973 | 6.75% | +0.24 | $6,675 | 30% |
| Guild Mortgage | 14,742 | 6.625% | +0.08 | $5,918 | 15% |
| All lenders | 700,082 | 6.50% | +0.02 | $5,476 | 33% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), 30-year fixed home purchases compared like for like. APR vs benchmark = median APR minus the average prime offer rate the week the rate was set; loan costs are borrower-paid. Data notes and limits.
Mutual of Omaha Mortgage by the numbers
| Home loans originated (2025) | 24,192 |
|---|---|
| Total lending (2025) | $7.8B |
| Average loan size | $322,806 |
| Approval rate* | 76.7% |
| Volume rank (our roster) | #31 of 60 |
| Largest market | California |
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.
What Mutual of Omaha Mortgage actually lends
43.5% of Mutual of Omaha Mortgage's 2025 loans were FHA loans, versus 13.2% nationally.
| Share of 2025 loans | Mutual of Omaha Mortgage | U.S. |
|---|---|---|
| Conventional | 45.3% | 78% |
| FHA | 43.5% | 13.2% |
| VA | 11.1% | 8.2% |
| USDA | 0.1% | 0.6% |
| Home purchase | 33.1% | 52.5% |
| Rate-and-term refinance | 27.8% | 15.3% |
| Cash-out refinance | 26.7% | 14% |
Shares of originated loans by loan type and purpose, federal HMDA data (2025). They describe the lender's business mix, not the terms you would be offered.
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:
| Loan program | Typical min. down |
|---|---|
| Conventional | 3% |
| FHA | 3.5% |
| VA | 0% |
| Reverse | n/a |
Strengths
- Rare depth in reverse mortgages, ranking among the largest HECM lenders nationally, plus a full slate of standard purchase and refinance products
- Backed by the long-established Mutual of Omaha brand and its policyholder-owned parent organization
- Publishes daily sample rates on its website without requiring you to log in or submit personal information
- Broad geographic reach, with lending available in nearly every state and the District of Columbia
Considerations
- With a reverse mortgage, interest and fees are added to the balance each month, so the debt grows and home equity shrinks; heirs usually sell the home to repay it.
- A HECM still requires the borrower to keep paying property taxes, homeowners insurance, and upkeep; falling behind can trigger default and foreclosure even though there is no monthly loan payment
- Its posted sample rates for conventional and VA loans include two discount points (2% of the loan amount), so a quote without points would carry a higher rate.
- Does not originate loans in New York: 2025 HMDA data shows no Mutual of Omaha Mortgage records there
- Its reverse mortgages require borrowers to be 62 or older, live in the home, have substantial equity (typically 50% or more) and complete HUD-approved counseling first.
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:
- Get three or more Loan Estimates in a two-week window — the bureaus treat it as one inquiry.
- Compare the APR, not just the headline rate — it folds in the fees.
- Weigh service and loan-type fit, not price alone.
- Verify licensing: search Mutual of Omaha Mortgage on NMLS Consumer Access and match the NMLS ID to the one on your Loan Estimate. (Its LEI in federal HMDA data, 549300OPCWU6E72WUT29, is not a license number.)
Benchmark whatever you're quoted against today's the national rate benchmark.
Mutual of Omaha Mortgage FAQ
Is Mutual of Omaha Mortgage a good mortgage lender?
Mutual of Omaha Mortgage is a licensed U.S. mortgage lender and one of the largest, roughly #31 of 60 in our roster by 2025 volume, best for reverse mortgages.
On price, its 2025 conventional borrowers' median APR was in line with the typical lender's, with $5,787 in loan costs against $5,476 market-wide.
Whether it's right for you comes down to the rate and fees it quotes — compare its Loan Estimate with two or three others.
What are Mutual of Omaha Mortgage's rates today?
Mutual of Omaha Mortgage sets rates daily by loan type, credit score, down payment and points, so the rate that counts is the one on your Loan Estimate.
For context, the average 30-year fixed rate was 7.18% in Freddie Mac's survey for the week of November 5, 2026; in 2025, Mutual of Omaha Mortgage's conventional purchase loans closed at a median 6.50%, against 6.50% for all lenders.
How many mortgages does Mutual of Omaha Mortgage originate?
In 2025, Mutual of Omaha Mortgage originated about 24,192 home loans, roughly $7.8 billion in lending, per federal HMDA data — an average loan of about $322,806.
What loan types does Mutual of Omaha Mortgage offer?
Mutual of Omaha Mortgage offers Conventional, FHA, VA, Reverse. Notable programs include 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.
How do I verify Mutual of Omaha Mortgage is licensed?
Search the company's name on NMLS Consumer Access (nmlsconsumeraccess.org), the official registry of licensed mortgage companies and loan officers; the NMLS ID it shows is also printed on every Loan Estimate the lender issues. (The ID 549300OPCWU6E72WUT29 used on this page is the company's LEI, which identifies it in federal HMDA data — not a license number.)
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.
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