Kennewick Reverse Mortgage Lenders
At All Reverse Mortgage, Inc. (ARLO™), we are proud to be Washington’s #1 Rated Reverse Mortgage Lender, as recognized by the Better Business Bureau. We have a perfect 5-star rating and an A+ exemplary score. We’ve been serving Kennewick homeowners since 2004 and are dedicated to providing reverse mortgages that help you enjoy your retirement years with peace of mind.
We understand that you deserve the best possible rate with the lowest costs. That’s why we focus solely on reverse mortgages, ensuring you receive expert guidance every step of the way. As a HUD-approved direct lender, we offer both national HECM programs and specialized jumbo Reverse Mortgages for homeowners with higher-value properties in Washington State.
We invite you to compare our customer reviews, lower rates, and closing costs with those of any other lender. We’re confident you’ll see the difference, and we look forward to helping you achieve your financial goals.
All Reverse Mortgage, Inc. is licensed by the Department of Financial Institutions (#CL-13999)
Kennewick Reverse Mortgage Facts
| City | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Purchase Reverse Mortgages Closed Last 12 Months | Lenders in Kennewick (est) | Avg. Home Value |
|---|---|---|---|---|---|
| Kennewick | 4,189 | 146 | 0 | 112 | $422,837 |
HUD Approved Direct Lender
All Reverse Mortgage, Inc. (ARLO™) is approved by the Department of Housing and Urban Development (HUD) to originate, underwrite, and close HUD’s Home Equity Conversion Mortgage (HECM, or “Heck-um”). The HECM is HUD’s reverse mortgage loan program.
All Reverse Mortgage of Kennewick originates and closes refinance loans for homeowners who are looking to either pay off their existing loan and eliminate monthly mortgage payments, use their equity for other purposes if they have no existing loan, or a combination of both.
About All Reverse Mortgage of Kennewick
The team at All Reverse Mortgage, Inc. has extensive experience, including being part of the group that introduced the first fixed-rate jumbo reverse mortgage in 2008. With this background, we are constantly exploring new products for homeowners in high-value markets where the HUD HECM may not be the best fit. Although jumbo or proprietary programs often offer lower Principal Limits relative to property values, they can be the right solution for certain borrowers.
An experienced originator can guide you through the pros and cons of each program, helping you make an informed decision. In various markets, there may be a mix of HUD HECM and niche jumbo opportunities, allowing homeowners aged 62 and above to leverage reverse mortgages as a versatile financial tool. This can be particularly valuable for those seeking to eliminate mortgage payments or establish a growing line of credit, enhancing their retirement plans.
Kennewick Details
Before Kennewick was settled by European descendants, it was inhabited by people from the Umatilla, Wanapum, Nez Perce, and Yakama tribes. The area’s low elevation and riverside location made it hospitable with moderate winters and rich fishing conditions. The name “Kennewick” is credited to the Native American tribes, with most translations meaning “grassy place” or “winter paradise.”
The land was ceded by Native American tribes at the Walla Walla Council of 1855, leading to slow settlement by ranchers in the 1860s. By the 1880s, steamboats and railroads connected Kennewick to other settlements along the Columbia River. The Northern Pacific Irrigation Company laid the groundwork for agriculture in the 1890s, leading to the successful cultivation of crops like strawberries.
Kennewick’s industrial potential was boosted by the construction of the Celilo Canal in 1915, leading to the development of freight and passenger shipping. During WWII, the establishment of the Hanford Site for atomic bomb manufacturing further drove industrial growth. Today, Kennewick remains the retail hub of the Tri-Cities.
Kennewick has approximately 54,693 residents with a median household income of $41,213. The city hosts numerous outdoor events during the warm season, including the Tri-Cities Water Follies and Art in the Park, attracting thousands of visitors. The area is also home to over 300 wineries and wine bars, drawing significant tourism.
Kennewick’s proximity to the Cascade Mountains gives it a semi-arid climate, bordering on a desert climate. The area experiences an average annual precipitation of 7.57 inches, annual snowfall of 6.4 inches, an average high temperature of 65.6 degrees, and an average low of 42.6 degrees.
Kennewick Lending Limits
According to U.S. Census Bureau data, 13.5 percent of Kennewick’s population is made up of seniors aged 65 and older. Of these, 78 percent (accounting for 4,189 households) are homeowners, representing a dedicated community of long-term residents.
Many senior households in Kennewick may be eligible for a reverse mortgage, with several already using this tool to support their retirement needs. Compared to the average home price in Washington, Kennewick’s median home price is lower, at $422,837, according to the Zillow Home Value Index. Prices have increased by 12.4% over the past year.
Some homes in Kennewick may be valued above this median. If your home is appraised for more than the HUD lending limit of $1,149,825, you may still access your home equity with a reverse mortgage. For homes exceeding this value, a jumbo reverse mortgage might allow you to access more of your equity than a FHA-insured HECM loan would permit.
While reverse mortgages might not be the perfect solution for every homeowner, depending on your specific situation, a HECM could be something to consider as you approach your retirement years.
If you reside in Kennewick, All Reverse Mortgage, Inc. (ARLO™) is here to help. Access our online calculator to estimate your reverse mortgage lending limit, or call us Toll-Free at (800) 565-1722. We’re ready to assist you in making informed decisions to ensure you can continue enjoying your retirement.
