Port Orchard 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 Port Orchard 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)
Port Orchard Reverse Mortgage Facts
| City | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Purchase Reverse Mortgages Closed Last 12 Months | Lenders in Port Orchard (est) | Avg. Home Value |
|---|---|---|---|---|---|
| Port Orchard | 715 | $546,329 |
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 Port Orchard 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 Port Orchard
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.
Port Orchard Details
Port Orchard was first settled by European-Americans William Renton and Daniel Howard in 1854 after they established a sawmill in the area. The town was originally mapped out in 1886 by Frederick Stevens, who named it after his father. However, the U.S. Navy soon identified Orchard Bay as a suitable location for a new installation on the West Coast, leading to the development of Port Orchard with the help of Sidney’s residents.
Today, Port Orchard is the county seat of Kitsap County, located 13 miles west of Seattle and connected to Seattle and Vashon Island via the Washington State Ferries run to Southworth. Named after the strait that separates Bainbridge Island from the Kitsap Peninsula, Port Orchard had an estimated population of 14,597 as of 2019.
According to the United States Census Bureau, Port Orchard has a total area of 8.5 square miles, with 7.3 square miles of land and 1.3 square miles of water. As of 2000, the median income for a household in the city was $34,020, and the median income for a family was $41,946. Approximately 10.9% of families and 12.9% of the population were below the poverty line, including 17.2% of those under age 18 and 9.1% of those age 65 or over.
Port Orchard maintains a warm, temperate climate influenced by cold fronts and moisture from the Pacific Ocean. The area enjoys 153 days of sunshine each year, compared to the national average of 205 days. Port Orchard also receives 47 inches of precipitation annually, with 7 inches of snow. The average high temperature is 76 degrees, while the average low is 37 degrees.
Port Orchard Lending Limits (2024)
Port Orchard, Washington, has a senior population of 14.9%, with 76% of them being homeowners. This represents around 715 senior households that may benefit from a reverse mortgage. As of January 2024, Port Orchard’s median home price is $562,125, marking a 9.1% increase over the past year. Many homes fall below the federal reverse mortgage lending limit of $1,209,750, but jumbo reverse mortgages can provide access to more home equity for higher-valued properties.
If you reside in Port Orchard, 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.
