Compare Maryland's Best Reverse Mortgages
Maryland Reverse Mortgage Lenders
|Lender Name||Years in Business||Rating||Stars (0-5.0)||Positive Reviews||Complaints||BBB Reviews|
|All Reverse Mortgage, Inc. (ARLO)||15||A+||4.9||99%||1||Source|
|American Advisors Group (AAG)||14||A-||4.1||82%||53||Source|
|Longbridge Financial, LLC||6||A+||3.5||70%||2||Source|
|Reverse Mortgage Funding LLC||6||A+||3.0||60%||8||Source|
|One Reverse Mortgage, LLC (Quicken)
|Liberty Home Equity Solutions, Inc.||15||A+||2.1||42%||2||Source|
|Retirement Funding Solutions (RFS)||9||A+||(N/A)||(N/A)||1||Source|
|Fairway Independent Mortgage||23||A+||2.1||42%||21||Source|
|HighTech Lending Inc.||13||A-||2.0||40%||2||Source|
|Finance of America Reverse LLC||15||A+||1.0||20%||2||Source|
All Reverse Mortgage® is proud to be Maryland's #1 Rated Reverse Mortgage Lender by the BBB with a Perfect 5.0 Stars and A+ Exemplary Rating. We currently lend in 16 states and our headquarters are right here in southern California.
All Reverse Mortgage was incorporated November 2004 and as the name implies, the only loan product that All Reverse Mortgage® originates is in fact, the reverse mortgage.
We’re committed to be your lender because you deserve the best rate at the lowest price possible.
We’re a HUD Approved direct lender lending the national HECM programs and offer a suit of Non-FHA & Jumbo Reverse Mortgages to better suit homeowners in MD with higher value homes over the national 2019 lending limit of $726,525.
We welcome you to compare our reviews and our lower rates and closing costs to any other major lender! The difference is clear, and we can’t wait to show you!
Virginia Reverse Mortgage Facts
|State||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Maryland||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 Maryland and offers 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; or can help borrowers 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 lower Principal Limits as they relate to home values, though, so not all borrowers are best served with the jumbo programs available.
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 for the future as well.
Maryland Lending Limits
Maryland is the 19th most populous state in the nation and the 42nd in terms of land area. Overall, more than 6 million people live in Maryland, though the population is dispersed throughout the state, with about 80% of the population living outside of the state’s 10 most populous cities or census-designated areas. As of 2017, nearly 15% of people in Maryland were 65 or older; between 2012 and 2016.
One of the original 13 colonies, the state of Maryland’s history predates the United States. The state’s earliest seeds go back to 1632, when George Calvert, 1st Baron Baltimore, applied for a royal charter to create the Province of Maryland. The region was granted statehood on April 28, 1788, thus beginning a long and storied portion of American history.
Among the more notable early chapters in Maryland’s history, pre- and post-statehood, include the 1763 creation of the Mason-Dixon Line, the Maryland-inspired penning of the Star-Spangled Banner in 1814, the Battle of Antietam in 1862, and the flight training exercises by Wilbur Wright that helped create the world’s oldest continually operating airport.
Today, with approximately 611,600 residents, Baltimore is Maryland’s largest city and home to the groundbreaking Johns Hopkins University and the Johns Hopkins Hospital. In popular culture, the city is the proud home of Edgar Allan Poe and now known for the films of Barry Levinson and John Waters and the HBO television show The Wire. The capital of Maryland is Annapolis, located about 30 miles east of Washington, D.C.
With a variety of geographical forces at play, Maryland’s climate is rather diverse. Though the state on a whole ranks 20th in the U.S. in average temperature, individual sections of the state range from an annual average of 48 degrees in the western portion to 59 in the southeast.
Along with Baltimore and Columbia, the largest cities and census-designated places in Maryland are Germantown, Silver Spring and Waldorf. The state’s economy improved nominally in 2017, with job growth up 1.8%. Forbes ranked the state 26th in its Best States for Business rankings. Maryland still provides workers with opportunities at some of the country’s most successful businesses; Marriott International, Lockheed Martin and the Social Security Administration are all based in Maryland.
The average home value in the state is $283,700, and prices are expected to rise an additional 5.4% in the next year. Given this average, many homes fall below the federal maximum reverse mortgage lending limit of $636,150 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 Maryland, All Reverse Mortgage® is here to answer your questions.Reference:
Maryland home values
Other Areas of Interest in Maryland
Maryland Reverse Mortgage Counseling Agencies
|Agency Name||Phone||Address||Website||Agency ID||Languages|
|DRUID HEIGHTS COMMUNITY DEVELOPMENT CORP.||410-523-1350||2140 McCulloh St|
Baltimore, Maryland 21217-3529
|GUIDEWELL FINANCIAL SOLUTIONS, INC||443-451-1689||757 Frederick Rd|
Baltimore, Maryland 21228-4500
|SOUTHEAST COMMUNITY DEVELOPMENT CORPORATION||410-342-3234||3323 Eastern Ave|
Baltimore, Maryland 21224-4109
|HARFORD COUNTY HOUSING AGENCY||410-638-3045||15 S Main St Ste 106|
Bel Air, Maryland 21014-8723
|CECIL COUNTY HOUSING AGENCY||410-996-8216||200 Chesapeake Blvd Ste 1800|
Elkton, Maryland 21921-6682
|FREDERICK COMMUNITY ACTION AGENCY||301-600-1506||100 S Market St|
FREDERICK, Maryland 21701-5527
|WASHINGTON COUNTY COMMUNITY ACTION COUNCIL (WCCAC)||301-797-4161||117 Summit Ave|
Hagerstown, Maryland 21740-5508
|HOUSING INITIATIVE PARTNERSHIP, INC. (HIP)||301-699-3835||6525 Belcrest Road|
HYATTSVILLE, Maryland 20782-2003
|ASIAN -AMERICAN HOMEOWNERSHIP COUNSELING INC.||301-760-7636||12320 Parklawn Drive|
ROCKVILLE, Maryland 20852-1726
Did you know? California 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.
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 direct lender.
Working with a local Maryland 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!"|