Mooresville Reverse Mortgage Lenders
All Reverse Mortgage® is headquartered in Southern California, but lends in many states nationwide, including Mooresville, North Carolina. 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 Mooresville 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.
Mooresville Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in Mooresville (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 Mooresville 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 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.
Mooresville Lending Limits
Mooresville, North Carolina, is a town about 25 miles outside of Charlotte. The town’s roots go all the way back to the mid-1700s and since then, the
population has grown to 35,387. Residents who are senior homeowners 62 years or older make up about 12.5 percent of the town’s population.
Racing culture is huge in Mooresville. In fact, it’s the home of numerous NASCAR teams such as Kyle Busch Motorsports, Team Penske and
Kasey Kahne Racing, just to name a few.
Mooresville’s economy is primarily made up of healthcare, manufacturing, retail and food services.
The median home value in Mooresville is $247,500 which is an increase of 5.2 percent in the last 12 months. Over the next year, home prices are
projected to increase 2.9 percent. While many of the homes in Mooresville are valued below the federal maximum reverse mortgage lending limit of
$726,525 that applies to government-insured HECM loans, other homes may exceed the maximum reverse mortgage lending limit. However, senior
homeowners can still look to jumbo loan programs to tap into their home’s equity for higher valued homes.
If you reside in Mooresville or are planning to move there, All Reverse Mortgage is here to answer your questions.
Access our online reverse mortgage calculator to
estimate your reverse mortgage loan amount or call us Toll Free (800) 565-1722.