Huntington Beach Reverse Mortgage Lenders
All Reverse Mortgage® is headquartered in Southern California, but lends in many states nationwide, including Huntington Beach, California. 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 Huntington Beach 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.
Huntington Beach Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in Huntington Beach (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 Huntington Beach 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 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 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.
Huntington Beach Lending Limits
The seaside city of Huntington Beach in Southern California is known for its sandy beaches, mild climate and great surfing.
The city is roughly 32 miles of land and water and had a population of 189,992 in 2010.
Huntington Beach is a ideal for many older and retired people as the yearly average temperature on the high end is 66.8 degrees and on the low end is 56 degrees.
This could be one reason why approximately 19,062 homeowners 62 and older live in Huntington Beach.
The average home value in the city is $773,175, which is over the national lending limit of $636,150 for a HECM. But a HECM could still be
useful if a borrower takes out a line of credit.
A HECM line of credit can be sat on for years without being used once. It can also increase in value each year that it's not used. So if a borrower
took out a HECM line of credit right when they turned 62 and didn't use it for 10 years, the amount could increase significantly.
There is also the option of a jumbo reverse mortgage, which could be another option for homeowners with homes worth over $636,150.
Generally, jumbo reverse mortgages are for homes valued up to several million dollars, though the exact amount varies.
If you reside in Huntington Beach, 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