Florida Reverse Mortgage Lenders
All Reverse Mortgage® is headquartered in California and provides lending services around the country. 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 Florida 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.
Florida Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in Florida
||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 Florida and offers 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; or can help borrowers 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 lower Principal
Limits as they relate to home values, though, so not all borrowers are best served with the jumbo programs available.
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 for the future as well.
Florida Lending Limits
The state of Florida is most often thought of when people think of a place many Americans go to retire. In fact, there are 2,188,722 homeowners
62 and older in The Sunshine State. Florida is also the third-most populous and eighth-most densely populated state in the country. Popular retirement
destinations within Florida include The Villages, Boynton Beach, Lady Lake, Clearwater and Naples, among others.
Florida’s economy heavily relies on tourism, agriculture and transportation. The state is known for its beaches, amusement parks, orange farming,
the Kennedy Space Center and as a stereotypical area for retirees.
The Orlando, Florida area is known for its Walt Disney World Resorts which consist of multiple theme and water parks including Magic Kingdom, Epcot,
Disney’s Hollywood Studios, Disney’s Animal Kingdom, Disney’s Typhoon Lagoon Water Park and Disney’s Blizzard Beach Water Park.
Florida has many sports teams, which include three NFL teams, two MLB teams, two NBA teams, two NHL teams and one MLS team. Auto racing
is also a big deal in the state as Daytona Beach, Florida is the headquarters of NASCAR, which is where the Daytona 500 is held each February.
The average home value in Florida is $205,100—much lower than the maximum reverse mortgage lending amount of $636,150.
If you reside in Florida, All Reverse Mortgage® is here to answer your questions. Access our free calculator to estimate
your reverse mortgage lending limit or call us Toll Free (800) 565-1722