Mission Viejo Reverse Mortgage Lenders
We are proud to be California's #1 rated reverse mortgage lender by the BBB with a Perfect 5.0 stars and A+ review. All Reverse Mortgage® lends in 14 states states nationwide, including Mission Viejo, 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 Mission Viejo 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.
Mission Viejo Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in Mission Viejo (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 Mission Viejo 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
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 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.
Mission Viejo Lending Limits
Located in Saddleback Valley, Mission Viejo was one of the last regions in Orange County to be urbanized. It did not become incorporated until 1988.
As of 2013, the population of the city was 96,346 and 9,517 of residents are homeowners 62 and older.
Mission Viejo is known for its tree-lined neighborhoods and has even been recognized by the National Arbor Day Foundation for its impressive trees.
The average home in Mission Viejo is worth $670,400, which is just above the reverse mortgage lending limit set by HUD that was recently increased
from $625,500 to $636,150.
For those homeowners who have homes over the maximum lending limit, there are still benefits of taking a HECM up to the lending limit of $636,150 of your
total home value. Keep in mind, if a borrower takes a line of credit, it can increase each year that it's not used.
Its ideal location between Los Angeles and San Diego as well as its low crime rate makes Mission Viejo attractive to families from around the country.
The city is also located 15 minutes from Orange County's John Wayne Airport and Los Angeles International Airport- a perfect home base for those who
For homeowners with higher valued properties above the HUD lending limit of $625,500 for HECMs, they might want to consider a jumbo reverse mortgage,
which may allow them to access a greater portion of their home equity than a HECM reverse mortgage.
The city also boasts numerous public parks and dog parks for those who enjoy the outdoors.
If you reside in Mission Viejo, 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