Chicago Reverse Mortgage Lenders
All Reverse Mortgage, Inc. (ARLO™) is proud to be Illinois’s #1 Rated Reverse Mortgage Lender by the Better Business Bureau (BBB). We boast a perfect 5.0-star rating and an A+ exemplary rating. Although headquartered in Southern California, we currently lend in 16 states, including Illinois.
Incorporated in November 2004, All Reverse Mortgage, Inc. (ARLO™) focuses exclusively on reverse mortgages, ensuring that you receive the best rate at the lowest price possible.
As a HUD-approved direct lender, we offer national HECM programs as well as a variety of non-FHA and jumbo Reverse Mortgages tailored for Illinois homeowners with higher-value properties exceeding the 2024 national lending limit of $1,149,825.
We invite you to compare our reviews, lower rates, and closing costs with those of any other major lender. The difference is clear, and we’re excited to show you how we can help you maximize your home’s equity.
Chicago Reverse Mortgage Facts
| City | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Purchase Reverse Mortgages Closed Last 12 Months | Lenders in Chicago (est) | Avg. Home Value |
|---|---|---|---|---|---|
| Chicago | 373,000 | 159 | 1 | 128 | $309,814 |
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 the HUD Home Equity Conversion Mortgage (HECM, or “Heck-um”). The HECM is HUD’s reverse mortgage loan program designed to help seniors tap into their home equity.
All Reverse Mortgage, Inc. (ARLO™) serves the Chicago community by originating and closing refinance loans for homeowners who wish to pay off their existing mortgage and eliminate monthly payments or who want to utilize their home equity for other purposes. We also accommodate those interested in a combination of both.
About All Reverse Mortgage®
The owners and management of All Reverse have been integral in the reverse mortgage industry since 2008, even contributing to the development and sale of the first fixed-rate jumbo reverse mortgage. This extensive experience allows us to offer specialized loan programs for homeowners with high-value homes, particularly in markets where the HUD HECM may not fully meet their needs.
Our seasoned originators are dedicated to helping borrowers understand the pros and cons of each reverse mortgage option, ensuring they make informed decisions that best suit their needs. Whether you’re in a strong HUD HECM market or near a niche jumbo market, we provide expert guidance to help you choose the right financial tool.
Homeowners aged 62 and older are increasingly turning to reverse mortgages as a way to enhance their retirement plans rather than as a last resort. By eliminating existing mortgage payments or establishing a growing line of credit, reverse mortgages empower homeowners to live comfortably and plan for the future in their family homes.
Chicago Lending Limits
Chicago is the third-largest city in the U.S. and the largest in the Midwest. Incorporated in 1837, Chicago has grown into a global city, home to nearly 2.8 million people, including approximately 373,000 senior homeowners aged 62 or older.
Located along Lake Michigan, Chicago is a major business hub. O’Hare International Airport is the second-busiest airport in the world, and Chicago boasts the most extensive rail freight and highway networks. This gives the city a diverse economy, with healthcare, professional services (scientific and technical), retail, manufacturing, and finance contributing significantly.
Chicago offers a variety of activities for residents of all ages, from enjoying the city’s many parks to sampling its famous deep-dish pizza. The city’s unique neighborhoods offer something for everyone.
As of January 2023, the median home value in Chicago is $309,814. About half of the homes in Chicago are valued below the federal maximum reverse mortgage lending limit of $1,149,825, which applies to government-insured HECM loans. Senior homeowners can explore jumbo loan programs for homes that exceed this limit to access their home’s equity.
If you’re a homeowner in Chicago aged 62 or older, and you’re curious about how a reverse mortgage could benefit you, All Reverse Mortgage, Inc. (ARLO™) is here to help. Give us a call today or visit our online calculator at https://reverse.mortgage/calculator to explore your options.
We’re ready to answer your questions and help you make the most of your home’s equity—so you can confidently enjoy your retirement. Don’t wait—reach out to us today!
