Camano Island 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 Camano Island 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)
Camano Island Reverse Mortgage Facts
| City | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Purchase Reverse Mortgages Closed Last 12 Months | Lenders in Camano Island (est) | Avg. Home Value |
|---|---|---|---|---|---|
| Camano Island | 3,398 | 8 | 0 | 7 | $712,824 |
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 Camano Island 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 Camano Island
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.
Camano Island Lending Limits
Located between Whidbey Island and the mainland of Washington state, Camano Island had a population of 15,661 as of 2010, with 2,703 of those residents being homeowners aged 62 and older.
The island is named after the Spanish explorer Jacinto Caamaño, who explored much of the Pacific Northwest and as far north as Alaska. Before being named Camano Island, the area was called Kallutchin, meaning “land jutting into the bay” in the language of the Snohomish tribe that originally inhabited the island.
Camano Island experiences a lower population in the fall and winter months, with a surge in residents during the summer, as it is a popular location for retirees to spend their summers.
As of January 2023, the median home value on Camano Island is $712,824, reflecting a 14.3% increase over the past year.
Though the island is smaller, there is plenty to do, including visiting wineries, playing at an 18-hole golf course, enjoying a casino, exploring multiple public parks, ziplining, and dining at numerous restaurants.
Camano Island also boasts a vibrant art culture with multiple art galleries and studios. The Camano Arts Association hosts studio tours and offers various public art classes, such as glass blowing, figure drawing, and painting.
If you reside in Camano Island, 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.
