Oceanside Reverse Mortgage Lenders
All Reverse Mortgage® is headquartered in Southern California, but lends in many states nationwide, including Oceanside, California. 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 Oceanside 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.
Oceanside Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in Oceanside (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 Oceanside 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 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 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.
Oceanside Lending Limits
A coastal city on California’s South Coast, Oceanside is the third largest city in San Diego County. With Carlsbad and Vista,
the three cities form a tri-city area.
The city has 167,086 residents, according to the 2010 census. Of that population, 13,938 are homeowners 62 and older.
Oceanside also is known for military base Camp Pendleton, which was founded in 1953 for young people to gain self confidence, but in 1975 it became
the first military base in the country to provide accommodations for Vietnamese evacuees. More than 50,000 refugees came to the base, which was the largest
humanitarian airlift in history.
Camp Pendleton is also popular for film producers because it is only 70 miles from Hollywood. Some movies shot at Camp Pendleton include
“Sand of Iwo Jima” (1949), “MacArthur” (1977), “Heartbreak Ridge” (1986) and “Pearl Harbor” (2001).
Oceanside is also extremely mild in temperature for much of the year, with the coldest temperatures dropping to the low 60s in January. \
The area is ideal for older people who don’t necessarily want to have very cold or very hot weather.
The average home price in Oceanside is $467,000, which is under the federal lending limit maximum for HECM loans, which
means many homeowners 62 and older could be eligible for a reverse mortgage.
If you reside in Oceanside, 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