North Carolina Reverse Mortgage Lenders
All Reverse Mortgage® is a HUD approved lender working directly with homeowners through all of North Carolina. All Reverse began in November 2007 and as the name implies, the only loan product that All Reverse Mortgage® originates is the federally-insured home equity conversion mortgage.
For over a decade we have been offering our reverse mortgages to North Carolina homeowners and maintain an Exemplary A+ Rating by the BBB.
We are proud to have become NC’s #1 rated reverse mortgage lender with a perfect 5.0-5.0 star rating.
North Carolina Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in North Carolina
||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 North Carolina 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 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.
North Carolina Lending Limits
Located in the Southeast region of the country, North Carolina is the 9th most populous state, which is made up of 100 counties.
The capital of the state is Raleigh and the most populous city is Charlotte, which also is the second largest banking city in America after New York City.
As a whole, North Carolina has 10,247,632 residents and 892,915 of them are homeowners 62 and older. Currently, the average home value in the
state is $159,300, which has gone up 6.4% in the last year. Home values are expected to go up another 2.8% in the next year.
The Old North State was a part of one of the 13 colonies along with the area that is now South Carolina. The colony was known as the Province of
Carolina. Like many of the original colonies, the area was home to Native Americans in its early days.
Fast forward through the colonial period, the Revolutionary War and the Civil War to present day, and North Carolina has an extremely diverse economy.
This is mainly due to the state’s access to hydroelectric power as well as its neutral climate, which can maintain different soil varieties for many different
types of agriculture.
The state leads its region of the country in terms of its agriculture. More specifically it is known for its production of tobacco, textiles and furniture.
North Carolina also has numerous state parks including Bay Tree State Park, Carvers Creek, Chimney Rock and Gorges.
If you reside in North Carolina, 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
Other Areas of Interest in North Carolina