Compare Goodyear's Best Reverse Mortgages
Goodyear Reverse Mortgage Lenders
We are proud to be Arizona's #1 rated reverse mortgage lender by the BBB with a Perfect 5.0 Stars and A+ Exemplary Rating. We currently lend in 16 states including all of Arizona and Goodyear, AZ.
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 Goodyear 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.
Goodyear Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Goodyear (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 Goodyear 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 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.
Situated roughly 20 miles east of Phoenix, Goodyear is a moderately-sized city with an estimated population of just under 80,000 people, as of 2017. The history of the city goes back to World War I, when cotton used to make tires for airplanes was in generally short supply. To remedy this, 16,000 acres of land was purchased in 1917 by an executive of the Goodyear Tire and Rubber Company, and among that acreage is what is now known as the city of Goodyear.
When the company learned that the climate of Arizona was similar to that of foreign sources of cotton then-used to create tires, they dispatched junior executive Paul Litchfield to buy the land, which resulted in the establishment of a small community that would ultimately grow into the Goodyear, Arizona that we know today.
The name of the city, and by extension the company, comes from Charles Goodyear, who discovered a method of vulcanizing rubber in the mid-1800s, and the young community remained just as strong as the cotton industry that supported it for years.
The town of Goodyear as we know it today was officially incorporated in 1946, made up only of “151 homes, 250 apartments, a grocery store, drug store, barber shop, beauty shop and service station,” according to the city’s official website. Over time, the town grew into a city, and was officially recognized as such nearly 40 years later in 1985.
Like much of the surrounding areas in its state, Goodyear is home to a subtropical desert climate, and its lowest average temperature hovers around 41 degrees fahrenheit in the month of December. High temperatures can be brutal, particularly in the summer months, with the city’s highest average temperature reaching as high as 105 degrees in the middle of the summer season. Still, average temperatures year-round reach a high of 85 and a low of 59, making for a generally warmer-than-average climate compared with other parts of the United States.
Much of the highest rated activities in Goodyear according to consumer rating website Yelp include the beautiful Loma Linda Park, featuring picnic tables gazebos and a large public swimming pool you can cool off in on a particularly hot day.
You can also find a provider of hot air balloon tours to take in the scenery of Goodyear and the surrounding land from a breathtaking aerial view, and the city itself features multiple large shopping centers and city amenities. There are also a number of senior-specific services in the area, including assisted living and memory care facilities, and low-income housing designed specifically for the senior population.
Goodyear Lending Limits
11% of Goodyear’s population consists of seniors that are at least age 65, according to data from the U.S. Census Bureau. Seniors who own their homes make up 90% of those who live in the city. 60% of the city’s senior homeowners relocated to Goodyear in the 2000s, so much of the senior population is made up of people who have lived in the area for less than 20 years. Over 3,000 homeowners currently living in Goodyear are age 62 and older, the youngest age at which a person can be eligible to obtain a reverse mortgage. Several of these older homeowners have already done their research and begun using reverse mortgages to support their retirement needs.
The median home price in Goodyear is $291,300, according to the Zillow Home Value Index. Prices in the area have increased 4.9% over the past year, and Zillow projects that they will continue to rise over the course of the next year by roughly 2.8%.
While some homes in Goodyear may be worth more than this median value, if your home has been appraised for more than the HUD lending limit of $765,600, you may still be able to tap into your home equity with the help of a reverse mortgage.
If you're a homeowner who fits this description and you're interested in using a reverse mortgage to supplement your retirement, you might want to consider a jumbo reverse mortgage, from which you may be able to access a greater portion of your home equity than you otherwise would with a HUD-backed HECM reverse mortgage.
Reverse mortgages might not be the perfect solution for every homeowner, but depending on your particular situation, a HECM could be something to consider as you approach your retirement years.
If you reside in Goodyear, All Reverse Mortgage® is here to answer your questions.
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently brought exclusive offers to our valued Goodyear homeowners. Because of our unique process we're able to offer a better federally-insured reverse mortgage with no compromise.
Take a look at some of our program benefits that you won't find elsewhere:
|Exclusive 3.68% (5.25% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 2.98% with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Plans|
|ZERO Financed Closing Cost Plans|
|ZERO Monthly Servicing Fees on ALL programs|
How can we offer you more favorable terms?We are a direct lender approved by FHA (Federal Housing Administration) The HECM is literally all we do. All Reverse Mortgage is not just a name for us. We have a very low (almost non-existent) staff turnover and our people are experts. We don't work with Brokers, allowing us to pass the savings on to you. We don't hire "celebrity" spokespersons as we don't believe you should have to pay for a lender's expensive marketing budget with higher loan costs. We Charge Less! Check out our competition and our customer ratings. We never forget that this loan is about you and your needs and we put you first with superior service and lower costs.
All Reverse vs. the others
HUD approved direct lender.
Working with a local Goodyear, AZ lender saves you time and money.
As an award-winning direct lender our goal remains simple; to offer you the very best terms accompanied by extraordinary customer service.
What Our Customers Are Saying
|"There was no car salesman type of protracted negotiation. All reverse got right down to a good quote without a series of incremental steps."|
|"I was surprised how easy it was to deal with an out of state company. Actually it was much easier than my previous dealings with local banks and brokers"|
|"It is a wonderful feeling to have no mortgage and extra cash in our pocket. We are very happy."|
|"Thank you to All Reverse for handling everything in an efficient and smooth way. Thoroughly appreciate everything you have done to make things easy for me."|
|"This was the smoothest mortgage process I have ever experienced! And so fast!"|