Compare Mansfield's Best Reverse Mortgages
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Mansfield Reverse Mortgage Lenders
We are proud to be Texas's #1 rated reverse mortgage lender by the BBB with a Perfect 5.0 stars and A+ review. All Reverse Mortgage, Inc. (ARLO™) lends in 16 states nationwide, including Mansfield, TX.
All Reverse began in 2004 and as the name implies, the only loan product that All Reverse Mortgage, Inc. (ARLO™) originates is the residential reverse mortgage loan.
We offer reverse mortgages to Mansfield 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, Inc. (ARLO™) is well positioned to be able to assist borrowers with all specific needs associated with the reverse mortgage program.
Mansfield Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Mansfield (est)||Avg. Home Value|
HUD Approved Direct Lenders
All Reverse Mortgage Inc. (ARLO™) are approved lenders with HUD (Department of Housing and Urban Development) 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 Mansfield and closes both refinance loans where borrowers already own their home and are looking 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 the 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.
Unlike a lot of other cities across Texas, the area that would become known as Mansfield was settled by pioneers of Scotch-Irish origins rather than Spanish explorers. This is because most of the early residents came to Mansfield from other southern states down into northeastern Texas.
Some early settlers came into notable conflicts with the Comanche tribe of Native Americans, which is one of the major factors that led to the establishment of Fort Worth on the part of the U.S. Army to protect burgeoning American interests across the frontier. In the establishment of what would become Mansfield, a group of eight related families which migrated from the state of Illinois moved nearby, and three brothers from one of those families — the Gibsons — moved just four miles out from the boundaries of the future Mansfield.
This “proto-Mansfield” was known as the “Gibson Community,” and had grown enough to erect both a school and a church by 1860. Not long before, two businessmen also established a gristmill which would go on to provide supplies for the Confederacy during the American Civil War, and continued to operate their business after the fall of the Confederacy and the readmission of Texas to the Union. These two businessmen — R.S. Man and Julian Feild — would ultimately become the namesake of the town.
Although turning both mens’ names into a portmanteau would result in a spelling of “Mansfeild,” repeated misspellings over the years eventually gave way to the common acceptance of the current — though technically incorrect — spelling “Mansfield.” The area became a hub for farmers in northeastern Texas, and was ultimately incorporated as its own city within the state in 1909.
By the mid-20th century, Mansfield became the venue for one of the longest-running desegregation battles in the history of the American Civil Rights Movement. In the mid-1950s, the Mansfield school district was segregated, and was ordered by a federal court to desegregate; the first such order given to a district in the state of Texas.
300 white protestors attempted to stop the enrollment of three black students, which led to a nine-year court battle. In 1965, the district was quietly desegregated when it was not receiving federal funds as a result of its policies. Today, the Mansfield school district is the largest employer in the area, with an estimated 4,450 employees.
Other major employers in the city are Mouser Electronics with 1,700 employees, the Methodist Mansfield Medical Center with 1,240 employees, the city itself with over 500 employees and Klein Tools with 452 employees.
Mansfield Senior Population and Lending Limits
7 percent of Mansfield’s population is made up of seniors that are at least 65 years old, based on U.S. Census Bureau data. Of Mansfield’s senior population, 86 percent (accounting for over 2,000 households) are also homeowners as opposed to renters. That means there’s a dedicated community of seniors that call Mansfield their long-term home.
Thousands of the senior households in Mansfield may be eligible to obtain a reverse mortgage. Several of these older homeowners have already done their research and begun using reverse mortgages to support their retirement needs.
Compared with the average home price in Texas, Mansfield’s median home price is over $83,000 greater than the rest of the state at $294,091, according to the Zillow Home Value Index. Prices in the area have increased 2.1K percent over the past year, and Zillow projects that they will continue to fall over the course of the next year by roughly 2 percent.
Some homes in Mansfield may be worth more than this median value. If your home has been appraised for more than the HUD lending limit of $726,525, 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 FHA-insured HECM loan.
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 Mansfield All Reverse Mortgage, Inc. (ARLO™) is here to answer your questions. Access our online reverse mortgage calculator to estimate your reverse mortgage lending limit or call usToll Free(800) 565-1722
Additional Lender Resources in TX:
Reversemortgage.org NRMLA Members in Texas: https://www.reversemortgage.org/Find-a-Lender/state/TX
HUD.GOV Lenders: HUD.GOV Approved Lenders Search
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently broughtexclusive offers to our valued Mansfield 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 program benefits that you won't find elsewhere:
|Exclusive 5.81% (6.81% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 4.88% with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Options|
|ZERO Financed Closing Cost Options (*on select jumbo programs)|
|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 literallyall 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 direct lender.
Working with a local Mansfield, TX 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!"|