Compare Delaware's Best Reverse Mortgages

Top 10 Reverse Mortgage Lenders in Delaware

Since we started in 2004, our goal has remained simple: to offer the best terms with unbeatable customer service.

We are HUD Approved and offer a full suite of HECM & Jumbo Reverse Mortgages.

Compare our competitive rates and lower costs to any competitor and realize thousands more from your home’s equity!

The difference is clear, and we can’t wait to show you!

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 the reverse mortgage program it administers for seniors who are 62 and older.
 
All Reverse Mortgage® originates in Delaware 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 new home.
 

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 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 as well.

Reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably and age-in-place, but to plan for their financial future as well.

Delaware Lending Limits

Delaware is the 45th most populous state in the United States and the 45th largest in terms of land size. As of 2017, about 961,939 people resided in the state, with the bulk of the population concentrated in the north in and around Wilmington. About 174,100 residents are age 65 and older, and about 70% of people in the state are homeowners.

Delaware was home to two distinct native tribes before the Europeans made contact in the early 1600s. The Dutch were the first to establish settlements in the area, and the land would go on to change hands to the English. Delaware was the first to ratify the constitution after the American Revolution, making it the first state in the U.S. To this day, it is made up of the same three counties that were established in the state by 1682.

Wilmington is the largest city in Delaware with a population of 72,846. The first settlement on this site was founded by the Swedes in 1638 as Fort Christina, featuring the first log cabins built in the United States. Notable names who have called Delaware home are documentary filmmaker Ken Burns and singer Bob Marley, as well as Dogfish Head Craft Brewery.

Despite being only 35 miles across at its widest point, Delaware is the sixth most densely populated state. After Wilmington, the next largest cities in the state are Dover and Newark. The largest industries in Delaware are agriculture, manufacturing, and mining — and tourism is thriving thanks to the state’s tax-free shopping. The state’s biggest companies are DuPont, Integrity Staffing Solutions, and W.L. Gore and Associates.

Delaware has a moderate climate with an average July high of 87 degrees Fahrenheit and an average January low of 27 degrees Fahrenheit. Its location on the Atlantic coast makes the state susceptible to hurricanes, nor’easters, and severe winter weather. Temperatures along the coast are hotter in the summer and colder in the winter.

The average home value in the state is $232,100, and prices are expected to rise an additional 5.3% in the next year. Given this average, many homes fall below the federal maximum reverse mortgage lending limit of $765,600 that applies to all HECM loans. For more borrowing power above the federal limit, there are jumbo reverse mortgage programs available.

If you reside in Delaware, All Reverse Mortgage is here to answer your questions.

Top Lender Resources in DE:
Reversemortgage.org NRMLA Members in Delaware
HUD.GOV Approved Lenders Search