North Carolina's #1 Rated Reverse Mortgage

Michael G. Branson, CEO of All Reverse Mortgage, Inc., and moderator of ARLO™, has 45 years of experience in the mortgage banking industry. He has devoted the past 20 years to reverse mortgages exclusively. (License: NMLS# 14040)

All Reverse Mortgage's editing process includes rigorous fact-checking led by industry experts to ensure all content is accurate and current. This article has been reviewed, edited, and fact-checked by Cliff Auerswald, President and co-creator of ARLO™. (License: NMLS# 14041)

By Michael G. Branson   Edited by Cliff Auerswald

Reverse Mortgages in North Carolina: A Comprehensive Guide

If you’re a North Carolina homeowner aged 62 or older, a reverse mortgage could be a valuable tool to help you unlock the equity in your home and improve your financial security during retirement. In this guide, we’ll cover everything you need to know about reverse mortgages in North Carolina, including key facts, the latest statistics, top lenders, and essential protections.

About All Reverse Mortgage, Inc. of North Carolina

At All Reverse Mortgage, Inc. (ARLO™), we’ve spent two decades serving homeowners across the nation, earning our reputation as one of the most trusted reverse mortgage providers. With an A+ rating from the Better Business Bureau and countless 5-star reviews, we’re known for offering exceptional service, competitive rates, and lower costs.

Since 2004, our mission has been to help North Carolina homeowners make the most of their home equity. Whether it’s paying off an existing loan, creating a safety net with a growing line of credit, or simply enjoying financial peace of mind, we provide personalized guidance every step of the way. Our team even pioneered the first fixed-rate jumbo reverse mortgage in 2008, giving us unmatched expertise in these innovative loan programs.

As a HUD-approved reverse mortgage lender, we offer both HECM & jumbo reverse mortgage options tailored to your unique situation. While jumbo loans can be an excellent choice for higher-value homes, they often come with lower Principal Limits. Our experts are here to help you evaluate the benefits and make the decision that’s right for your financial goals.

Across North Carolina, homeowners aged 62 and older are embracing reverse mortgages not as a last resort but as a practical retirement strategy. From eliminating monthly mortgage payments to accessing growing credit lines, our clients enjoy the financial freedom to stay in their homes while planning for a secure future.

At All Reverse Mortgage, Inc. (ARLO™), we look forward to serving you with the professionalism, transparency, and care that have defined our company from the start.

North Carolina Reverse Mortgage Eligibility & Key Facts

• Eliminate Monthly Mortgage Payments: Free up your budget by eliminating your existing loan payments.
• Access Tax-Free Cash: Use your home equity to supplement retirement income without increasing your taxable income.
• Stay in Your Home: Reverse mortgages allow you to remain in your primary residence for as long as you meet loan requirements.

Latest North Carolina Reverse Mortgage Statistics

Top Reverse Mortgage Lenders in North Carolina

North Carolina Reverse Mortgage Lending Limits

North Carolina, often called the “Tar Heel State,” is home to over 10.7 million people as of 2024.  Of this population, more than 1.38 million are homeowners aged 62 or older, meaning many North Carolinians may qualify for a reverse mortgage.  This financial option can be an excellent tool for those looking to access their home equity and improve their retirement lifestyle.

As of January 2025, the median home value in North Carolina is $327,482, according to the latest data.  This amount is well within the federal reverse mortgage lending limit of $1,209,750, allowing most homeowners in the state to take advantage of the Home Equity Conversion Mortgage (HECM) program.  If your home’s value exceeds this limit, jumbo reverse mortgages can provide a way to tap into even more equity.

A Rich Historical and Economic Background

North Carolina has a deep historical significance, dating back to its role as one of the original 13 colonies that declared independence from Britain in 1776.  The state also played a prominent role during the American Civil War.  Despite challenges, North Carolina rebounded economically, thanks in part to the New Deal programs of the 1930s, which revitalized its agricultural industry and spurred the growth of cities like Raleigh, Charlotte, and Durham.

In recent decades, North Carolina has emerged as a banking, agriculture, and tourism powerhouse.  The state is a major producer of tobacco, textiles, and furniture and boasts beautiful landscapes such as the Appalachian Mountains, the Outer Banks, and renowned state parks like Chimney Rock and Gorges State Park.

Essential Protections for North Carolina Borrowers

North Carolina adheres to federal reverse mortgage regulations while ensuring strong consumer protections through its general lending laws.  Here’s what you need to know about the safeguards in place for reverse mortgage borrowers in North Carolina:

1. Mandatory Counseling:
   Before applying for a reverse mortgage, you must complete a HUD-approved counseling session.  This ensures you fully understand the loan’s terms, costs, and potential alternatives.  Counseling can be done over the phone or in person, and the certificate of completion must be provided to your lender.
2. Cooling-Off Period:
   Federal law requires a mandatory waiting period after counseling and before closing the loan.  This gives you time to carefully review the terms, discuss the decision with family or advisors, and ensure a reverse mortgage is the right choice for your financial goals.
3. No Tied Financial Products:
   Lenders in North Carolina are prohibited from requiring you to purchase additional financial products, such as annuities or insurance, as a condition of obtaining a reverse mortgage.  This protection ensures the loan process remains fair and free from unnecessary financial pressure.
4. Clear Disclosures:
   Lenders must provide detailed disclosures about the loan’s terms, including interest rates, fees, and repayment obligations.  They are also required to inform you that you remain responsible for property taxes, homeowners insurance, and home maintenance.  Failure to meet these obligations could result in foreclosure.
5. Licensed Lenders:
   All reverse mortgage lenders operating in North Carolina must be licensed by the North Carolina Commissioner of Banks.  This ensures lenders meet state standards for transparency, professionalism, and ethical practices.
6. Non-Recourse Loans:
   Reverse mortgages in North Carolina are non-recourse loans, meaning you or your heirs will never owe more than the home’s value at the time the loan is repaid.  This protection ensures you won’t be burdened with excess debt if the loan balance exceeds the home’s worth.
7. Spousal Protections:
   If you have a non-borrowing spouse, North Carolina lenders must follow federal HUD guidelines to protect their right to remain in the home after the borrowing spouse passes away or moves out, provided they meet certain requirements.

HUD-Approved Reverse Mortgage Counseling Agencies in North Carolina

Did you know?  North Carolina does not mandate in-person counseling.  Visit our counseling page for a list of phone-based counseling agencies, and you can conduct your required counseling from the comfort of your home.

Other Areas of Interest in North Carolina

Calabash Charlotte Denver Mooresville Raleigh Southport Waxhaw

Ready to Unlock Your Home’s Equity?

As North Carolina’s #1 Rated Reverse Mortgage Lender, All Reverse Mortgage, Inc. (ARLO™) is here to provide trusted guidance, real-time rates, and expert support to help you make informed decisions.

✔ No obligations. Just real-time rates and expert advice.
✔ Instant quote. No personal info required.
✔ Licensed experts. Get clear, honest answers.

As a fully licensed lender by the Commissioner of Banks License (License #L-173216), we’re committed to helping you secure the retirement you deserve.

Get Your Free Quote from North Carolina’s #1 Rated Reverse Mortgage Lender! Use our reverse mortgage calculator, or call (800) 565-1722 to speak with a friendly expert today.

Additional Resources:
Reversemortgage.org NRMLA Members in North Carolina
HUD.GOV Approved Lenders Search