Minnesota Reverse Mortgage Lenders

We are proud to be Minnesota'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 17 states nationwide, and throughout all of Minnesota state.

Since we started in 2004, our goal has remained simple: to offer the best terms with unbeatable customer service.

We are HUD Approved and offer a full suite of HECM & Jumbo Reverse Mortgages.

Compare our competitive rates and lower costs to any competitor and realize thousands more from your home’s equity!

The difference is clear, and we can’t wait to show you!

HUD Approved Direct Lender

All Reverse Mortgage, Inc. (ARLO™) 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 the reverse mortgage program it administers for seniors who are 62 and older.
 
All Reverse Mortgage, Inc. (ARLO™) originates in Minnesota and offers several reverse mortgage options. In some instances, borrowers are looking to pay off their existing loan and eliminate their monthly mortgage payment. Or, if they already have paid off their mortgage, a reverse loan can help borrowers utilize their equity for other purposes. In some cases, borrowers can do both. They also may use a specific type of reverse mortgage to purchase a new home.
 

About All Reverse Mortgage® of MN

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 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 as well.

Reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably and age-in-place, but to plan for their financial future as well.

Minnesota Lending Limits

Minnesota is the 22nd most populous state in the United States and the 12th largest in terms of land size. As of 2017, approximately 5,576,606 people lived in the state, with most of the residents located around the Minneapolis-St. Paul area. About 858,797 residents in the state are age 65 and older, and about 72.7% of people in the state are homeowners.

Evidence points to humans living in this region for the last 9,000 years. After French fur traders explored the area in the 17th century, the area finally started to get populated in the mid- to late-1800s when the land’s natural resources began to get tapped and the railroads brought settlers. After being named a legal territory in 1849, Minnesota became the 32nd state in 1858. Nicknamed the “Land of 10,000 lakes,” Minnesota is the northernmost of all the 48 contiguous states. Famous residents have included singer-songwriter Prince, writer F. Scott Fitzgerald, and the state’s former governor — professional wrestler Jesse Ventura.

Minneapolis is the largest city in the state with 393,000 people living in its city limits. But the twin cities metropolitan area —which includes St. Paul — is estimated to have 3.4 million residents. In its suburb of Bloomington, more than 40 million people flock to the 400 stores in the country’s largest shopping mall — the Mall of America. Perfect for avoiding the elements during long, cold winters, Minneapolis houses 8 miles of indoor walkways in its skyway system, allowing anyone downtown to do practically anything without stepping outdoors.

After Minneapolis, the largest cities are Saint Paul and Rochester. Agriculture continues to be a main part of the state’s economy. Minnesota was ranked 13 on Forbes list of ‘Best Places to Do Business’, and it has 19 companies on the Fortune 500 list, including UnitedHealth Group, Target, and Best Buy.

With a continental climate classification, Minnesota has four very distinct seasons, with hot summers and very cold winters. The average high in July is 85 degrees Fahrenheit and the average low in January is 7 degrees Fahrenheit. Minnesota is prone to heavy winter snow and some blizzards. The state also experiences a tornado season from March to November, with the peak of the season in June.

The average home value in the state is $229,200 and prices are expected to rise an additional 8.5% in the next year. Given this average, many homes fall below the federal maximum reverse mortgage lending limit of $970,800 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 Minnesota, All Reverse Mortgage is here to answer your questions

Top 3 Lender Resources in MN:
Reversemortgage.org NRMLA Members in Minnesota
HUD.GOV Lenders

State References: 65 and over | Minnesota History (Source 1, Source 2)