Charlotte Reverse Mortgage Lenders
All Reverse Mortgage® is a reverse mortgage company that lends throughout the state of North Carolina, including Charlotte. 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 Charlotte 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.
Charlotte Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in Charlotte (est)
||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 Charlotte and offers several reverse mortgage options: in some instances borrowers are looking to pay off their
existing loan and eliminate their monthly mortgage payment; or if they already have paid off their mortgage, a reverse loan can help borrowers
utilize their equity for other purposes. In some cases, borrowers can do both. They also may use a specific type of reverse mortgage to purchase a
About All Reverse Mortgage®
The owners and management of All Reverse Mortgage® 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 well. Jumbo or proprietary
programs typically offer much lower Principal Limits as they relate to values, 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 as a mortgage of last resort. Everything from the elimination of the
existing mortgage payments to the line of credit that grows 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.
Charlotte Lending Limits
As the largest city in North Carolina, Charlotte is a fast growing city. Its population as of 2016 was approximately 808,304, with senior
homeowners 62 years and older representing about 12 percent of the total population.
The city was first incorporated in 1768 and has quickly become an important city in the U.S. It’s developed a banking
reputation that makes it the second largest banking headquarters in the country, right behind New York City. But the
city isn’t just known for banking. As a major city, Charlotte offers residents and visitors plenty of green space to explore
and activities to participate in. One of the city’s most prominent public park spaces is Park Road Park. Charlotte is also home to many
museums and sports teams, such as the Carolina Panthers and Charlotte Hornets.
Healthcare is one of the city’s leading economic drivers, with Atrium Health being a large employer of Charlotte residents. Other
large employers in the city include Bank of America, Charlotte Mecklenburg Schools and Walmart.
The median home value in Charlotte, North Carolina, is $211,700 - an increase of 13.6 percent in the last year. Home values are projected to
rise another 4.6 percent in 2018. Some Charlotte, North Carolina homes are below the federal reverse mortgage lending limit of $726,525. For
those with homes valued above the federal lending limit, there are several private jumbo reverse mortgage programs available that may better
suit those homeowners.
If you reside in Charlotte or are planning to move there, All Reverse Mortgage is here to answer your questions.
Access our online reverse mortgage calculator to
estimate your reverse mortgage loan amount or call us Toll Free (800) 565-1722.