California Reverse Mortgage Lenders
All Reverse Mortgage® is headquartered in California and provides lending services around the country. All Reverse began in November 2007 and as the
name implies, the only loan product that All Reverse Mortgage® originates is the residential reverse mortgage loan.
We offer reverse mortgages to California 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® is well positioned to be able to assist borrowers
with all specific needs associated with the reverse mortgage program.
California Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in California
||Avg. Home Value
HUD Approved Direct Lender
All Reverse Mortgage® is approved with the Department of Housing and Urban Development (HUD) 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 California and closes both refinance loans, where borrowers already own their home and are looking
to 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 lower Principal Limits as they
relate to home values, though, so not all borrowers are best served with the jumbo programs available.
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 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.
California Lending Limits
As the most populous state in the country with more than 39 million residents, California is well known for its diverse population—and geography. There
are mountains in the east, forests in the northwest, deserts in the southeast and miles upon miles of agricultural land in the center of the state.
There is the misconception that all parts of California offer a warm climate. Actually, due to its massive size, the state’s climate ranges from rainforest-like
moisture to temperatures cold enough to produce snow in the mountains.
Some popular areas include the Sierra Nevada mountain range, the Mojave Desert, Yosemite National Park, Mount Shasta, Big Sur and Redwood National Park.
The range in climate makes the state very appealing to people who may want to live on the beach but can easily get to snow capped
mountains within a short distance.
For people interested in retiring to California, it may be a good choice if a reverse mortgage is in the cards as the average home
value of the state is $485,800, which is under the HECM lending limit of $636,150.
Some of the largest cities in California include Los Angeles, San Diego, San Jose, San Francisco and Fresno. Los Angeles is most popularly know as the
location of Hollywood film studios and of course, the famous Hollywood sign.
In addition, California has numerous sports teams. Some of the teams that represent the state include the Los Angeles Rams football team, the Oakland
Raiders football team, the San Francisco Giants baseball team and the Los Angeles Kings hockey team.
If you reside in California, All Reverse Mortgage® is here to answer your questions. Access our free calculator to estimate
your reverse mortgage lending limit or call us Toll Free (800) 565-1722