Compare Ocala's Best Reverse Mortgages
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Ocala Reverse Mortgage Lenders
All Reverse Mortgage, Inc. (ARLO™) is proud to be Florida's #1 Rated Reverse Mortgage Lender by the BBB with a Perfect 5.0 Stars and A+ Exemplary Rating. We currently lend in 16 states and all throughout Florida.
All Reverse Mortgage was incorporated in November 2004 and as the name implies, the only loan product that All Reverse Mortgage, Inc. (ARLO™) originates is in fact, the reverse mortgage.
We’re committed to be your lender because you deserve the best rate at the lowest price possible.
We’re a HUD Approved direct lender lending the national HECM programs and offer a suit of Non-FHA & Jumbo Reverse Mortgages to better suit homeowners in Ocala with higher value homes over the national 2023 lending limit of $1,089,300 as well as those with Non-FHA approved condominiums.
We welcome you to compare our reviews and our lower rates and closing costs to any other major lender! The difference is clear, and we can’t wait to show you
Ocala Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Ocala (est)||Avg. Home Value|
HUD Approved Direct Lenders
All Reverse Mortgage Inc. (ARLO™) are approved lenders with HUD (Department of Housing and Urban Development) 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 Ocala and closes both refinance loans where borrowers already own their home and are looking 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 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 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.
Located in the northern part of the state of Florida in Marion County, Ocala was first settled in 1849 and was effectively spun out of the presence of a military installation in the area called Fort King. Plantations permeated the area in the first decade of the city’s establishment, but the modern-day boundaries of the town of Ocala were first established in 1869, four years after the conclusion of the American Civil War during which Florida fought on the side of the insurgent Confederate States of America.
Ocala was established as an official city within the state of Florida in 1885. One early notable occurrence in Ocala just a few years after its incorporation as a city was the Farmers' Alliance and Industrial Union’s national convention in December of 1890. The Union was a forerunner to what would ultimately become the left-leaning Populist Party (later the People’s Party), and a series of demands were adopted by the then-Union which became known as the “Ocala demands.”
According to historians, delineated in the demands included a political platform calling for the abolition of national banks, the promotion of low-interest government loans, free and unlimited coinage of silver, reclamation of excess railroad lands by the government, a graduated income tax, and direct election of United States Senators.
Many of these demands would reportedly go on to become central to the Populist Party platform, though the party itself was dissolved in 1909. Portions of the party platform and its membership would go on to feed other political parties, including both the predominant Democratic and Republican parties of today.
Interestingly, Ocala is one of only five cities in the world – four reside in the U.S., one resides in France – permitted under Chamber of Commerce guidelines to refer to itself as “Horse Capital of the World.” It earns this unique title by virtue of the annual revenue produced by the horse industry. Breeding, training, and related support of the horses and the associated industry broadly supports nearly 44,000 jobs, and generates over $2.2 billion in annual revenue.
Consequently, Ocala is a major venue for some of the largest horse shows in the United States, including a two-month jumper event that is credited with bringing in nearly $7 million of revenue to the local Marion County government.
In terms of its climate, Ocala is often characterized by two predominant seasons: the “dry” season between October and May, and the “wet” season between June and September. The dry season brings nearly uninterrupted periods of sun and clear skies, though occasionally rainfall will appear. The average high temperature in the middle of the summer hovers just over 90 degrees fahrenheit, while the average low in the dead of winter brings temperatures of right around 45 degrees fahrenheit.
Ocala has a generally low median income when compared to the rest of the United States. In 2018, the average household income stood at just under $64,000, though in Ocala the median drops to just under $31,000. By far, the top employer in the city of Ocala is Marion County Public Schools, which employs over 6,000 people. This is followed by Munroe Regional Medical Center with over 2,600 employees, and Wal-Mart which employs 2,370 people.
Wal-Mart only slightly outnumbers employees working for the state of Florida, and other major employers in the area include Publix Super Market, the Marion County Government and telecom company AT&T. Ocala is also home to the College of Central Florida, which enrolled nearly 11,000 students in 2018, and features bachelor’s degree programs in Business and Organizational Management, Early Childhood Education and Nursing.
Ocala Lending Limits
17 percent of Ocala’s population is made up of seniors that are at least 65 years old, based on U.S. Census Bureau data. Of Ocala’s senior population, 68 percent (accounting for over 4,000 households) are also homeowners as opposed to renters. That means there’s a dedicated community of seniors that call Ocala their long-term home.
Thousands of the senior households in Ocala may be eligible to obtain a reverse mortgage. Several of these older homeowners have already done their research and begun using reverse mortgages to support their retirement needs.
Compared with the average home price in Florida, Ocala’s median home price is less than the rest of the state at $282,848, according to the Zillow Home Value Index as of January 2023. Prices in the area have increased 33.3% over the past year.
Some homes in Ocala may be worth more than this median value. If your home has been appraised for more than the HUD lending limit of $1,089,300, you may still be able to tap into your home equity with the help of a reverse mortgage.
If you're a homeowner who fits this description and you're interested in using a reverse mortgage to supplement your retirement, you might want to consider a jumbo reverse mortgage, from which you may be able to access a greater portion of your home equity than you otherwise would with a FHA-insured HECM loan.
Reverse mortgages might not be the perfect solution for every homeowner, but depending on your particular situation, a HECM could be something to consider as you approach your retirement years.
If you reside in Ocala All Reverse Mortgage, Inc. (ARLO™) is here to answer your questions.
Top Florida Lender Resource Links:
Reversemortgage.org NRMLA Members in Florida: https://www.reversemortgage.org/Find-a-Lender/state/FL
HUD.GOV Approved Lenders in Florida for HECM Loan
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently broughtexclusive offers to our valued Ocala homeowners. Because of our unique process we're able to offer a better federally-insured reverse mortgage with no compromise.
Take a look at some of our program benefits that you won't find elsewhere:
|Exclusive 6.680% (8.094% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines 6.67% (2.00 Margin) with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Options|
|ZERO Financed Closing Cost Options (*on select jumbo programs)|
|ZERO Monthly Servicing Fees on ALL programs|
How can we offer you more favorable terms?We are a direct lender approved by FHA (Federal Housing Administration) The HECM is literallyall we do. All Reverse Mortgage is not just a name for us. We have a very low (almost non-existent) staff turnover and our people are experts. We don't work with Brokers, allowing us to pass the savings on to you. We don't hire "celebrity" spokespersons as we don't believe you should have to pay for a lender's expensive marketing budget with higher loan costs. We Charge Less! Check out our competition and our customer ratings. We never forget that this loan is about you and your needs and we put you first with superior service and lower costs.
All Reverse vs. the others
HUD approved direct lender.
Working with a local Ocala, FL lender saves you time and money.
As an award-winning direct lender our goal remains simple; to offer you the very best terms accompanied by extraordinary customer service.
What Our Customers Are Saying
|"There was no car salesman type of protracted negotiation. All reverse got right down to a good quote without a series of incremental steps."|
|"I was surprised how easy it was to deal with an out of state company. Actually it was much easier than my previous dealings with local banks and brokers"|
|"It is a wonderful feeling to have no mortgage and extra cash in our pocket. We are very happy."|
|"Thank you to All Reverse for handling everything in an efficient and smooth way. Thoroughly appreciate everything you have done to make things easy for me."|
|"This was the smoothest mortgage process I have ever experienced! And so fast!"|