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Centennial Reverse Mortgage Lenders
We are proud to be Colorado's #1 rated reverse mortgage lender by the BBB with a Perfect 5.0 stars and A+ review. All Reverse Mortgage® lends in 16 states nationwide, including Centennial, CO.
All Reverse began in 2004 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 Centennial 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.
Centennial Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Centennial (est)||Avg. Home Value|
HUD Approved Direct Lenders
United Southwest and All Reverse 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 Centennial 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.
With an estimated population of over 100,000 people coupled with the fact that it was first incorporated as a city in Colorado in 2001, Centennial has the distinction of being the largest-ever incorporation of a new municipality in the history of the United States. As the 10th largest city in the state of Colorado, Centennial is a major component of the larger Denver metropolitan area, but a very recent one, too.
Consolidated from other unincorporated parts of surrounding Arapahoe County, the citizens of the area voted to incorporate as a new city in late 2000 where the voters also chose the name of the new city to be “Centennial.” It’s partially taken from one of Colorado’s nicknames as “the Centennial State,” which itself is derived from the fact that Colorado's admission to the United States as the 38th state took place in 1876, the centennial year after the Second Continental Congress produced the Declaration of Independence.
With incorporation approved by 77 percent of voters, the population of the new city at over 100,000 people quickly made it the largest new city incorporation in American history. Part of the stated motivation for incorporation was to prevent additional annexations of land from a nearby city, which was done to reportedly improve its own tax base within Arapahoe County. Much of the necessary county services and maintenance was funded by taxes on commerce in the unincorporated areas, so unifying into its own city made practical sense for its inhabitants.
Although now officially incorporated, Centennial as a community has a harder time of being known by its name by the broader, longer-term residents of the area, who still perceive the area to be parts of other municipalities. Even addresses located within the city limits of Centennial are still known as parts of other towns like Aurora, Englewood and Littleton by the U.S. Postal Service, since those are still the default place names as assigned by the postal service for specific addresses in the years preceding Centennial’s incorporation.
Among the major employers of Centennial’s citizenry, the Comcast corporation serves as the most prominent. Other major employers include Arrow Electronics, United Healthcare, Nordstrom Bank, and the Zillow Group. Centennial is also home to a vibrant local brewing community, with places like the Resolute Brewing Company, Halfpenny Brewing Company and Downslope Distilling being necessary spots for brewing enthusiasts either living in or visiting the area.
The area that is now Centennial has also been home to several notable current and former residents, including professional soccer players Ken Tribbett and Amy Barczuk, U.S. Olympic swimmer Missy Franklin, former Denver Broncos wide receiver Kenny McKinley, and actresses Madisen Beaty (Once Upon a Time in Hollywood) and Melissa Benoist (Supergirl).
Climate-wise, Centennial shares many of the attributes with its surrounding municipalities in Arapahoe County like the aforementioned Littleton, Englewood and Aurora. The average high in the middle of the summer is just about 88 degrees Fahrenheit, while the average low in the dead of winter can get down to 18 degrees Fahrenheit. Centennial also sits at a generally higher elevation of 5,833 feet, and has lower-than-national average precipitation at 78 days per year.
While its rainfall is generally minuscule on an annual basis, Centennial gets over four times as much snow when directly compared with annual rainfall accumulation. You can expect just over 70 inches of snow per year, nearly 50 inches more than the national average amount of snowfall in the United States, but that is consistent with the area of the country that Centennial is situated in.
Still, even on its coldest days, Centennial is generally warmer than most other places in Colorado, even if it may not be warmer by all that much.
Centennial Senior Population and Lending Limits
12 percent of Centennial’s population is made up of seniors that are at least 65 years old, based on U.S. Census Bureau data. Of Centennial’s senior population, 89 percent (accounting for over 6,700 households) are also homeowners as opposed to renters. That means there’s a dedicated community of seniors that call Centennial their long-term home.
Thousands of the senior households in Centennial 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 Colorado, Centennial’s median home price is over $78,000 greater than the rest of the state at $456,600, according to the Zillow Home Value Index. Prices in the area have increased 3.2 percent over the past year, and Zillow projects that they will continue to rise over the course of the next year by roughly 0.9 percent.
Some homes in Centennial may be worth more than this median value. If your home has been appraised for more than the HUD lending limit of $765,600, 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 reverse mortgage.
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 Centennial All Reverse Mortgage® is here to answer your questions.
Additional Oregon Lender Resource Links:
Reversemortgage.org NRMLA Members in CO: https://www.reversemortgage.org/Find-a-Lender/state/CO
HUD.GOV Approved Lenders in Oregon for HECM Loan
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently broughtexclusive offers to our valued Centennial 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 3.68% (5.25% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 2.98% with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Plans|
|ZERO Financed Closing Cost Plans|
|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 Centennial, CO 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!"|