Compare Idaho's Best Reverse Mortgages
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Top 10 Reverse Mortgage Lenders in Idaho
|Lender Name||Years in Business||Stars (0-5.0)||Positive Reviews||Complaints||BBB Reviews|
|All Reverse Mortgage, Inc. (ARLO)||16||4.96||99%||1||Source|
|American Advisors Group (AAG)||16||4.01||80%||66||Source|
|HighTech Lending Inc||14||3.0||60%||0||Source|
|Fairway Independent Mortgage||24||4.97||99%||33||Source|
|Finance of America Reverse LLC (FAR)||17||1.0||20%||3||Source
|Liberty Home Equity Solutions, Inc.||17||3.0||60%||1||Source|
|Longbridge Financial LLC||8||1.90||38%||13||Source|
|Mutual of Omaha Mortgage||7||3.29||33%||10||Source|
|One Reverse Mortgage LLC (Quicken)||35||1.0||20%||3||Source|
|Reverse Mortgage Funding LLC||8||1.82||36%||12||Source|
All Reverse Mortgage® is proud to be Idaho's #1 Rated Reverse Mortgage Lender by the BBB with a Perfect 5.0 Stars and A+ Exemplary Rating.
Since we started in 2004, our goal has remained simple: to offer the best terms with unbeatable customer service.
Compare our competitive rates and lower costs to any competitor and realize thousands more from your home’s equity!
The difference is clear, and we can’t wait to show you!
Idaho Reverse Mortgage Facts
|State||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in California||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 the reverse mortgage program it administers for seniors who are 62 and older.
All Reverse Mortgage® originates in Idaho and offers several reverse mortgage options. In some instances, borrowers are looking to pay off their existing loan and eliminate their monthly mortgage payment. Or, if they already have paid off their mortgage, a reverse loan can help borrowers utilize their equity for other purposes. In some cases, borrowers can do both. They also may use a specific type of reverse mortgage to purchase a new home.
About All Reverse Mortgage® of Idaho
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 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 as well.
Reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably and age-in-place, but to plan for their financial future as well.
Idaho Lending Limits
Idaho is the 39th most populous state in the United States and the 14th largest in terms of area. As of 2017, approximately 1,716,943 people lived in the state, with most of the population residing in a few of the state’s large cities. About 264,409 residents in the state are age 65 and older, and about 69.9% of people in the state are homeowners.
With evidence of human activity for the last 14,500 years, two main native tribes lived in this area when the first Europeans explorers came to explore the area in the 1800s. The popularity of fur trading and mission work quickly brought more settlers to the area. The region was officially brought under United States jurisdiction with a treaty in 1846. More settlers converged on the area during the gold rushes in the 1860s, and Idaho officially became the 43rd state in 1890.
Idaho’s largest city is its state capital Boise, with a population of 228,900. When miners came to the area in the 1860s, the site that is now Boise became an important supply point. When gold rush died out, the implementation of irrigation systems allowed the city to survive. Boise is the birthplace of Breaking Bad star Aaron Paul, and it’s technically illegal to ride a merry-go-round on a Saturday in the city. Further east, Rigby is considered the birthplace of television.
After Boise, the largest cities are Meridian and Nampa. The strongest industries in the state are manufacturing, healthcare, and tourism. Idaho is the number one producer of potatoes in the nation. Ranked 20 on Forbes list of ‘Best Places to Do Business’, it has multiple companies on the Fortune 500 list, including Albertson’s and Micron Technology.
Influenced by the Pacific Ocean weather patterns, Idaho’s northern region tends to be drier and the south is warmer in the summer. The state has hot summers with an average high in July of 91 degrees Fahrenheit and cold winters with an average low in January of 25 degrees Fahrenheit.
The average home value in the state is $241,300 and prices are expected to rise an additional 2.6% in the next year. Given this average, many homes fall below the federal maximum reverse mortgage lending limit of $822,375 that applies to all HECM loans. For more borrowing power above the federal limit, there are jumbo reverse mortgage programs available.
If you reside in Idaho, All Reverse Mortgage® is here to answer your questions.
Idaho Approved Reverse Mortgage Counseling Agencies
|Agency Name||Phone||Agency ID||Address||Languages||Website|
|IDAHO HOUSING AND FINANCE ASSOCIATION||855-505-4700||81204||565 West Myrtle|
BOISE, Idaho 83702-7675
|POCATELLO NEIGHBORHOOD HOUSING SERVICES, INC DBA NEIGHBORWORKS POCATELLO||208-232-9468||80870||206 N Arthur Ave|
Pocatello, Idaho 83204-3104
Did you know? Idaho state does not mandate in-person counsleing. Visit our counseling page for a list of phone-based counseling agencies and conduct your required counseling from the comfort of your home.
Reversemortgage.org NRMLA Members in Idaho: https://www.reversemortgage.org/Find-a-Lender/state/ID
HUD.GOV Approved Lenders Search: https://www.hud.gov/program_offices/housing/sfh/lender/lenderlist
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently brought exclusive offers to our valued Idaho 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 competitive rates 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 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 Idaho direct lender.
Working with a local Idaho 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!"|