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
Kennewick, Washington, located in Benton County, is part of the Tri-Cities region and has a population of 54,693 as of the latest census data. Approximately 13.5 percent of the population is 65 and older; of this group, 78 percent (around 4,189 households) are homeowners. This strong senior community may benefit from exploring reverse mortgage options to support their financial goals in retirement.
According to the Zillow Home Value Index as of January 2024, Kennewick’s median home value is $422,837, representing a 12.4% increase over the past year. Most homes in Kennewick fall within the federal reverse mortgage lending limit of $1,209,750, making Home Equity Conversion Mortgages (HECMs) accessible to many local homeowners. For those with properties exceeding the HUD lending limit, jumbo reverse mortgage programs are also available and could provide access to additional home equity.
If you reside in Kennewick and want to learn more about reverse mortgages, All Reverse Mortgage, Inc. (ARLO™) is here to help.
Visit our reverse mortgage calculator to estimate your lending limit, or call us today at (509) 955-2266.
