Federal Way Reverse Mortgage Lenders

We are proud to be Washington'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 states nationwide, including Federal Way, WA. 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 Federal Way 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.

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 Federal Way and closes both refinance loans, where borrowers already own their home and are looking to 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 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 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.

Federal Way Lending Limits

Federal Way, Washington, is the ninth-largest city in the state of Washington. As of 2016, the city has a population of approximately 94,000. Senior homeowners 62 years and older make up about 15.5 percent of the population.

Federal Way is a young city, given that Washington was admitted to the Union in 1889. Federal Way was incorporated in 1990. Since being officially incorporated, Federal Way has undergone strong growth. As more residents move into the city, they’ll discover that Federal Way has many parks to visit. Some of the city’s notable parks include Steel Lake Park, Dash Point State Park and the BPA Trail.

Federal Way’s economy is primarily composed of jobs in healthcare, retail trade and manufacturing..

The median home value in Federal Way, Washington, is $371,900 - an increase of 12 percent in the last year. Home values are projected to rise another 8.3 percent in 2018. Even with the predicted rise in home values, many Federal Way, Washington homes are still well within the bounds of the federal reverse mortgage lending limit of $822,375. 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 Federal Way or are planning to move there, All Reverse Mortgage is here to answer your questions. Call us Toll Free (800) 565-1722.

Additional Washington State Resource Links:
Reversemortgage.org NRMLA Members in Washington
HUD.GOV Approved Lenders in WA State for HECM Loan