Charleston Reverse Mortgage Lenders
We are proud to be South Carolina’s #1 rated reverse mortgage lender by the BBB with a Perfect 5.0 stars and A+ review. All Reverse Mortgage, Inc. (ARLO™) lends in 16 states nationwide, including Charleston, SC.
All Reverse began in 2004 and as the name implies, the only loan product that All Reverse Mortgage, Inc. (ARLO™) originates is the residential reverse mortgage loan.
We offer reverse mortgages to Charleston homeowners and our staff has a combined lending experience exceeding 100 years with national mortgage banking experience on both coasts and points between. Due to this varied direct experience, All Reverse Mortgage, Inc. (ARLO™) is well positioned to be able to assist borrowers with all specific needs associated with the reverse mortgage program.
Charleston Reverse Mortgage Facts
| City | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Purchase Reverse Mortgages Closed Last 12 Months | Lenders in Charleston (est) | Avg. Home Value |
|---|---|---|---|---|---|
| Charleston | 7,083 | 13 | 0 | 10 | $423,655 |
HUD Approved Direct Lenders
All Reverse Mortgage Inc. (ARLO™) are approved lenders with HUD (Department of Housing and Urban Development) to originate, underwrite and close the HUD Home Equity
Conversion Mortgage (HECM or “Heck-um”). The HECM is HUD’s acronym for their reverse mortgage loan.
All Reverse Mortgage originate in Charleston and closes both refinance loans where borrowers
already own their home and are looking either pay off their existing loan and have no more monthly mortgage payment, utilize their equity for other purposes if they have no existing loan or possibly a combination of both.
About All Reverse Mortgage, Inc.
Our team has been at the forefront of the reverse mortgage industry, including being part of the group that introduced the first fixed-rate jumbo reverse mortgage in 2008. This extensive experience allows us to offer personalized solutions for homeowners with high-value properties, especially in markets where a traditional HECM may not be the best fit.
Choosing the right reverse mortgage program can be complex, but our seasoned professionals are here to help. We’ll explain the benefits and considerations of each option, ensuring you can make an informed choice that suits your needs.
At All Reverse Mortgage, Inc. (ARLO™), we’re here to answer your questions and provide the support you need to make the best decision for your financial well-being.
Charleston, South Carolina Lending Limits
Charleston, South Carolina, established as “Charles Town” in 1670 in honor of King Charles II, boasts a rich and complex history that dates back to its early settlement by English colonists. Situated along the Ashley River, Charleston became a prominent city through its early involvement in the slave trade and cotton cultivation, particularly following the invention of the cotton gin. The city was a key player in the American Civil War, serving as a battleground and, eventually, the site where the Civil War began with the attack on Fort Sumter.
Over time, Charleston has transformed into a vibrant hub for the arts, tourism, and technology while maintaining its deep historical roots. Today, the city is known for its cultural events, jazz music, and historic sites that glimpse its triumphs and struggles. In 2018, the Charleston City Council officially apologized for the city’s role in the slave trade, further cementing its commitment to confronting its past while building a better future.
Senior Population and Lending Limits in Charleston
As of 2024, 12% of Charleston’s population consists of seniors aged 65 and older, with 71% of those seniors being homeowners. This means that there are over 7,000 senior households that may qualify for a reverse mortgage to help support their retirement.
According to the Zillow Home Value Index, Charleston’s real estate market has seen consistent growth, with the median home value reaching $423,655 in January 2024. This places many homes within the federal HECM reverse mortgage lending limit of $1,149,825. For homeowners valued above this limit, jumbo reverse mortgage options may be available to unlock more home equity.
Is a Reverse Mortgage Right for You?
A reverse mortgage may not be the perfect solution for every homeowner, but it can offer financial flexibility for many Charleston residents by tapping into home equity. If you’re considering using a reverse mortgage to supplement your retirement, All Reverse Mortgage, Inc. (ARLO™) is here to guide you. You can access our online reverse mortgage calculator to estimate your lending limit or contact us directly at Toll-Free (800) 565-1722 for personalized assistance.
We’re ready to help you make informed decisions, ensuring you can continue to enjoy your retirement in beautiful Charleston, South Carolina.
Lender Resources in SC:
Reversemortgage.org NRMLA Members in South Carolina: https://www.reversemortgage.org/Find-a-Lender/state/SC
HUD.GOV Lenders: HUD.GOV Approved Lenders Search
