Compare Boynton Beach's Best Reverse Mortgages
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Boynton Beach Reverse Mortgage Lenders
All Reverse Mortgage, Inc. (ARLO™) is proud to be Florida's #1 Rated Reverse Mortgage Lender by the BBB with a Perfect 5.0 Stars and A+ Exemplary Rating. We currently lend in 16 states and all throughout Florida.
All Reverse Mortgage was incorporated in November 2004 and as the name implies, the only loan product that All Reverse Mortgage, Inc. (ARLO™) originates is in fact, the reverse mortgage.
We’re committed to be your lender because you deserve the best rate at the lowest price possible.
We’re a HUD Approved direct lender lending the national HECM programs and offer a suit of Non-FHA & Jumbo Reverse Mortgages to better suit homeowners in Boynton Beach with higher value homes over the national 2023 lending limit of $1,089,300 as well as those with Non-FHA approved condominiums.
We welcome you to compare our reviews and our lower rates and closing costs to any other major lender! The difference is clear, and we can’t wait to show you
Boynton Beach Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Boynton Beach (est)||Avg. Home Value|
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 originates in Boynton Beach 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
The owners and management of All Reverse were part of the team that wrote and sold the first fixed rate jumbo reverse mortgage in 2008 and as such, have extensive experience in jumbo or proprietary loan programs as well. We are always looking for new products to offer to borrowers of high valued homes in the higher home priced markets that the HUD HECM may just not serve as well. Jumbo or proprietary programs typically offer much lower Principal Limits as they relate to values though so not all borrowers are better served with the jumbo programs.
Only a seasoned originator can readily inform borrowers which program will best suit their needs and the positives and negatives of each so that the borrower can make an informed decision. It is no longer uncommon anywhere in the country for a market to be a solid HUD HECM market and then within just a short distance for a niche jumbo market to be located where there is a need for a jumbo program.
Therefore, homeowners aged 62 and above in all markets have seen that the reverse mortgage can be a very solid financial tool and many are now seeking the reverse mortgage to augment their retirement plans and not so much the mortgage of last resort. Everything from the elimination of the existing mortgage payments to the line of credit that grows make reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably in their family home, but to plan for the future as well.
Boynton Beach Details
The roots of Boynton Beach stem from the man that the area takes its name after, Nathan Boynton. Boynton served as a Major for the 8th Michigan Cavalry on the side of the Union during the American Civil War, originally hailing from Point Huron, Michigan before enlisting in the Union Army against the Confederacy.
Nearly 30 years after the conclusion of the war, Boynton found himself in Florida just a couple of years before a major railroad would be constructed. When he found himself around the area in his travels, Boynton was reportedly so enthralled by the natural beauty that surrounded him that he built a lodging facility, the Boynton Hotel, where he spent winters with his family.
Boynton took news of the beautiful area to other fellow Michiganders, who followed him there and also realized that the fertility of the soil allowed the growth of a wide variety of fruits and vegetables. Citrus fruits and tomatoes would then be exported to the rest of the country when the new railroad was built, and such began a new, thriving town with a foundation of society and commerce.
In 1898, when a landowner filed a plat for “the Town of Boynton,” so began the community that would come to be called Boynton Beach. While Major Boynton himself passed away in 1911, the community continued to thrive and the Town of Boynton was officially incorporated in 1920. Two decades later, the Town of Boynton took the official moniker of “Boynton Beach,” which has remained its name up to this day.
Boynton Beach Oceanfront Park is one of the highlights of the town for both residents and visitors, and it received an extensive refurbishment in the 1990s, which interestingly saw its boardwalk torn out and rebuilt using only recycled plastics, but the boardwalk saw an additional renovation in 2011 where the recycled plastics were replaced with ipe wood. The park has been honored by the Palm Beach Post as the best family beach in the county, and buildings around the boardwalk were further renovated in 2012.
The renovations in 2012 helped to undo a lot of major damage that the area suffered seven years earlier, when Boynton Beach was struck by the onslaught of Hurricane Wilma. Widespread damage was inflicted on both business and residential properties, and even necessitated the 2006 demolition of the Seaboard rail station, an historic area building that had been kept intact in private ownership ever since it stopped serving as a functional station in 1971.
Boynton Beach has been home to a number of notable personalities throughout the years, including several athletes that went on to careers with the NFL, NBA, PGA and MLB, as well as a number of other celebrities and performing artists. American pop singer Hilary McRae hails from Boynton Beach, as does WWE professional wrestler Titus O’Neil. Boynton Beach is a well-sized town with an estimated 2019 population of right around 80,000, and is a principal city in the larger Miami metropolitan area.
Boynton Beach Lending Limits
21 percent of Boynton Beach’s population is made up of seniors that are at least 65 years old, based on U.S. Census Bureau data. Of Boynton Beach’s senior population, 83 percent (accounting for over 8,000 households) are also homeowners as opposed to renters. That means there’s a dedicated community of seniors that call Boynton Beach their long-term home.
Thousands of the senior households in Boynton Beach may be eligible to obtain a reverse mortgage. Several of these older homeowners have already done their research and begun using reverse mortgages to support their retirement needs.
Compared with the average home price in Florida, Boynton Beach’s median home price in January 2023 was nearly $20,000 greater than the rest of the state at $442,592, according to the Zillow Home Value Index. Prices in the area have increased 29.1% percent over the past year.
Some homes in Boynton Beach may be worth more than this median value. If your home has been appraised for more than the HUD lending limit of $1,089,300, you may still be able to tap into your home equity with the help of a reverse mortgage.
If you're a homeowner who fits this description and you're interested in using a reverse mortgage to supplement your retirement, you might want to consider a jumbo reverse mortgage, from which you may be able to access a greater portion of your home equity than you otherwise would with a FHA-insured HECM loan.
Reverse mortgages might not be the perfect solution for every homeowner, but depending on your particular situation, a HECM could be something to consider as you approach your retirement years.
If you reside in Boynton Beach All Reverse Mortgage, Inc. (ARLO™) is here to answer your questions.
Top Florida Lender Resource Links:
Reversemortgage.org NRMLA Members in Florida: https://www.reversemortgage.org/Find-a-Lender/state/FL
HUD.GOV Approved Lenders in Florida for HECM Loan
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently broughtexclusive offers to our valued Boynton Beach homeowners. Because of our unique process we're able to offer a better federally-insured reverse mortgage with no compromise.
Take a look at some of our program benefits that you won't find elsewhere:
|Exclusive 6.680% (8.094% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines 6.67% (2.00 Margin) with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Options|
|ZERO Financed Closing Cost Options (*on select jumbo programs)|
|ZERO Monthly Servicing Fees on ALL programs|
How can we offer you more favorable terms?We are a direct lender approved by FHA (Federal Housing Administration) The HECM is literallyall we do. All Reverse Mortgage is not just a name for us. We have a very low (almost non-existent) staff turnover and our people are experts. We don't work with Brokers, allowing us to pass the savings on to you. We don't hire "celebrity" spokespersons as we don't believe you should have to pay for a lender's expensive marketing budget with higher loan costs. We Charge Less! Check out our competition and our customer ratings. We never forget that this loan is about you and your needs and we put you first with superior service and lower costs.
All Reverse vs. the others
HUD approved direct lender.
Working with a local Boynton Beach, FL lender saves you time and money.
As an award-winning direct lender our goal remains simple; to offer you the very best terms accompanied by extraordinary customer service.
What Our Customers Are Saying
|"There was no car salesman type of protracted negotiation. All reverse got right down to a good quote without a series of incremental steps."|
|"I was surprised how easy it was to deal with an out of state company. Actually it was much easier than my previous dealings with local banks and brokers"|
|"It is a wonderful feeling to have no mortgage and extra cash in our pocket. We are very happy."|
|"Thank you to All Reverse for handling everything in an efficient and smooth way. Thoroughly appreciate everything you have done to make things easy for me."|
|"This was the smoothest mortgage process I have ever experienced! And so fast!"|