Los Angeles Reverse Mortgage Lenders
All Reverse Mortgage® is headquartered in Southern California, but lending in many states nationwide, including Los Angeles, CA. 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 Los Angeles 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.
Los Angeles Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in Los Angeles (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 Los Angeles 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 Mortgage® 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 well. Jumbo or proprietary programs typically offer much lower Principal Limits as they
relate to values, 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 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.
Los Angeles Lending Limits
Whether it's pursuing dreams of show business or simply wanting to relocate to a place where there's no shortage of sunshine and hardly a
need for winter gear, there are a variety of reasons why people flock to the nation's second-largest city.
Los Angeles is one of the most diverse cities in the United States with residents from all over the world calling the City of Angels their home.
Of the nearly 4 million people living in the city, roughly 10% are adults age 65 and older, according to the U.S. Census Bureau.
At least 91,000 homeowners currently living in the City of Los Angeles are age 62 and older, the youngest age at which a person can be eligible to obtain a
reverse mortgage. And many of these older homeowners have already done their research and begun using reverse mortgages to support their retirement needs.
The median home price in Los Angeles is $603,900, according to the Zillow Home Value Index. Prices in the city have increased 8.4% over the past year and Zillow
predicts they will continue to rise within the next year.
While many homes in Los Angeles may be worth more than this median value, if your home has been appraised for more than the HUD lending limit of $636,150,
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 HUD-backed HECM
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 Los Angeles, 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