Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service., Availability. Fairway is licensed in Washington D.C. and all 50 states, but New York will not accept reverse mortgage applications located in the state through the Fairway website., Single-purpose reverse mortgages. Some state and local government agencies or nonprofits offer single-purpose reverse mortgages, which are the least expensive reverse mortgage option. You can use them for only the purpose that the lender specifies — for instance, home repairs or property taxes..