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Hialeah Reverse Mortgage Lenders
All Reverse Mortgage was incorporated in November 2004 and as the name implies, the only loan product that All Reverse Mortgage® originates is in fact, the reverse mortgage.
We’re committed to be your lender because you deserve the best rate at the lowest price possible.
We’re a HUD Approved direct lender lending the national HECM programs and offer a suit of Non-FHA & Jumbo Reverse Mortgages to better suit homeowners in Hialeah with higher value homes over the national 2020 lending limit of $822,375 as well as those with Non-FHA approved condominiums.
We welcome you to compare our reviews and our lower rates and closing costs to any other major lender! The difference is clear, and we can’t wait to show you
Hialeah Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Hialeah (est)||Avg. Home Value|
HUD Approved Direct Lenders
United Southwest and All Reverse are approved lenders with HUD (Department of Housing and Urban Development) 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 Hialeah and closes both refinance loans where borrowers already own their home and are looking 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 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 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.
The city name “Hialeah” is widely believed to have originated from the culture of the Native American Muscogee people, with the words "Haiyakpo" (meaning prairie) and "hili" (translated to pretty) combining into "Hialeah" to mean "pretty prairie." Located on a prairie between the Everglades and Biscayne Bay, Hialeah’s population is estimated to be nearly 250,000 people according to 2019 estimates, but came from relatively humble beginnings.
Pioneer aviator Glenn Curtiss helped to establish the community that would ultimately become Hialeah in the early 1920s, and developed both the town and a race track in the area to build a foundation of commerce and community on what would become a thriving metropolis. The city of Hialeah was incorporated as part of the state of Florida in 1925, but endured a very early though debilitating difficulty in the form of the 1926 Miami hurricane.
Still the people of the community were determined, and Hialeah became a popular destination for hobbies including horse racing, and the grandeur of the Hialeah Park Race Track attracted prominent people from all across America to partake in its activities. Members of political dynasties including the famed Kennedy family, as well as President Harry Truman patronized the racetrack to take in its activities, as did the likes of future United Kingdom Prime Minister Winston Churchill and banker J.P. Morgan.
In 1937, Hialeah was the site of the final goodbye from the continental United States by aviator Amelia Earhart, right before she began her journey around the world which she would tragically never return from.
While originally envisioned as something of an upper-class resort town, Hialeah solidified itself as far more of a working class communities in the decades following. This is partially due to a large number of Cuban exiles fleeing the oppressive government in the wake of the 1959 revolution and rise of Fidel Castro choosing to settle in the area, along with an influx of World War II veterans choosing to settle down and raise families there. This contributed to city planners orienting Hialeah around the idea of primarily being a working class community.
Hialeah experienced explosive growth from the time of its incorporation up through today, nearly a century later. In 1925, the town had an estimated population of only 1,500. Since then, the city has grown at a rate described to be faster than a majority of the 10 larger cities from within the state of Florida since the 1960s, and Hialeah also holds a place as the state's fifth-largest city, with nearly a quarter-million residents.
Hialeah is also home to a rather unique distinction it received by Forbes magazine in 2009: as one of the “most boring cities” to be found in the United States, due to its large population size contrasting with the fact that it has relative anonymity or identity in the national media. For some current and prospective residents, this may be an optimal combination for someone who may be looking for an area with all the amenities of a city, but without other more disruptive elements that can sometimes come with living in large population centers.
Hialeah Lending Limits
19 percent of Hialeah’s population is made up of seniors that are at least 65 years old, based on U.S. Census Bureau data. Of Hialeah’s senior population, 59 percent (accounting for over 13,000 households) are also homeowners as opposed to renters. That means there’s a dedicated community of seniors that call Hialeah their long-term home.
Thousands of the senior households in Hialeah may 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.
Compared with the average home price in Florida, Hialeah’s median home price is over $45,000 greater than the rest of the state at $297,907, according to the Zillow Home Value Index. Prices in the area have increased 2.9 percent over the past year, and Zillow projects that they will continue to fall over the course of the next year by roughly 1.8 percent.
Some homes in Hialeah may be worth more than this median value. If your home has been appraised for more than the HUD lending limit of $726,525, 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 FHA-insured HECM loan.
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 Hialeah All Reverse Mortgage® is here to answer your questions.
Top Florida Lender Resource Links:
Reversemortgage.org NRMLA Members in Florida: https://www.reversemortgage.org/Find-a-Lender/state/FL
HUD.GOV Approved Lenders in Florida for HECM Loan
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently broughtexclusive offers to our valued Hialeah 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 3.06% (4.06% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 2.23% 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 literallyall 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 Hialeah, FL 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!"|