Olympia Reverse Mortgage Lenders
At All Reverse Mortgage, Inc. (ARLO™), we are proud to be Washington’s #1 Rated Reverse Mortgage Lender, as recognized by the Better Business Bureau. We have a perfect 5-star rating and an A+ exemplary score. We’ve been serving Olympia homeowners since 2004 and are dedicated to providing reverse mortgages that help you enjoy your retirement years with peace of mind.
We understand that you deserve the best possible rate with the lowest costs. That’s why we focus solely on reverse mortgages, ensuring you receive expert guidance every step of the way. As a HUD-approved direct lender, we offer both national HECM programs and specialized jumbo Reverse Mortgages for homeowners with higher-value properties in Washington State.
We invite you to compare our customer reviews, lower rates, and closing costs with those of any other lender. We’re confident you’ll see the difference, and we look forward to helping you achieve your financial goals.
All Reverse Mortgage, Inc. is licensed by the Department of Financial Institutions (#CL-13999)
Olympia Reverse Mortgage Facts
| City | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Purchase Reverse Mortgages Closed Last 12 Months | Lenders in Olympia (est) | Avg. Home Value |
|---|---|---|---|---|---|
| Olympia | 2,565 | 2 | 0 | 5 | $535,431 |
HUD Approved Direct Lender
All Reverse Mortgage, Inc. (ARLO™) is approved by the Department of Housing and Urban Development (HUD) to originate, underwrite, and close HUD’s Home Equity Conversion Mortgage (HECM, or “Heck-um”). The HECM is HUD’s reverse mortgage loan program.
All Reverse Mortgage of Olympia originates and closes refinance loans for homeowners who are looking to either pay off their existing loan and eliminate monthly mortgage payments, use their equity for other purposes if they have no existing loan, or a combination of both.
About All Reverse Mortgage of Olympia
The team at All Reverse Mortgage, Inc. has extensive experience, including being part of the group that introduced the first fixed-rate jumbo reverse mortgage in 2008. With this background, we are constantly exploring new products for homeowners in high-value markets where the HUD HECM may not be the best fit. Although jumbo or proprietary programs often offer lower Principal Limits relative to property values, they can be the right solution for certain borrowers.
An experienced originator can guide you through the pros and cons of each program, helping you make an informed decision. In various markets, there may be a mix of HUD HECM and niche jumbo opportunities, allowing homeowners aged 62 and above to leverage reverse mortgages as a versatile financial tool. This can be particularly valuable for those seeking to eliminate mortgage payments or establish a growing line of credit, enhancing their retirement plans.
Olympia Details
Olympia, the capital city of Washington state and a cultural center of the southern Puget Sound region, was claimed by European settlers in 1846. The Treaty of Medicine Creek in 1854 and the Treaty of Olympia in 1856 played crucial roles in the area’s history. Olympia was incorporated as a town on January 28, 1859, and as a city in 1882.
The town was named Olympia for its views of the Olympic Mountains. Originally home to the Lushootseed-speaking Steh-Chass people, Olympia grew steadily with the arrival of immigrants via the Oregon Trail. The city’s growth was further supported by the establishment of a customs house. However, territorial clashes between settlers and native tribes led to the Treaty of Medicine Creek, which resulted in a controversial and violent end.
Today, Olympia is known for its broad spectrum of public parks and nature conservation areas. Notable attractions include a boardwalk leading to an open-air amphitheater, a viewing tower beside the Port of Olympia, and the Olympia Farmers’ Market. Olympia is also a regional center for fine arts, with numerous theatrical companies such as Animal Fire Theater, Olympia Family Theater, Olympia Little Theater, Goldfinch Productions, and Harlequin Productions at the historic State Theater. The Olympia Symphony Orchestra and the Masterworks Chorale Ensemble perform regularly at the Washington Center for the Performing Arts.
Olympia’s climate is largely aligned with the surrounding Mediterranean summer climate, with additional influence from the Pacific Ocean. On average, Olympia sees 136 days of sun per year, compared to the national average of 205. The city receives 53 inches of precipitation annually, with 8 inches of rain each year. The average high temperature is around 77 degrees, and the average low typically reaches around 34 degrees.
Olympia Lending Limits
According to U.S. Census Bureau data, 17.5 percent of Olympia’s population is made up of seniors aged 65 and older. Of these, 63 percent (accounting for 2,565 households) are homeowners, representing a dedicated community of long-term residents.
Many senior households in Olympia may be eligible for a reverse mortgage, with several already using this tool to support their retirement needs. Compared to the average home price in Washington, Olympia’s median home price is lower at $535,431, according to the Zillow Home Value Index as of January 2023. Prices in the area have increased by 10.6% over the past year.
Some homes in Olympia may be valued above this median. If your home is appraised for more than the 2023 HUD lending limit of $1,149,825, you may still access your home equity with a reverse mortgage. For homes exceeding this value, a jumbo reverse mortgage might allow you to access more of your equity than a FHA-insured HECM loan would permit.
While reverse mortgages might not be the perfect solution for every homeowner, depending on your specific situation, a HECM could be something to consider as you approach your retirement years.
If you reside in Olympia, All Reverse Mortgage, Inc. (ARLO™) is here to help. Access our online calculator to estimate your reverse mortgage lending limit, or call us Toll-Free at (800) 565-1722. We’re ready to assist you in making informed decisions to ensure you can continue enjoying your retirement.
