Compare Orlando's Best Reverse Mortgages
Orlando Reverse Mortgage Lenders
All Reverse Mortgage® is proud to be Florida's #1 rated reverse mortgage lender by the BBB with a Perfect 5.0 stars and A+ review. All Reverse Mortgage® lends throughout all of Florida state including Orlando, FL. All Reverse began in 2004 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 Orlando 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.
About: Orlando Reverse Mortgages
Orlando lies geographically near the middle of Florida and is the County Seat of Orange County. The Orlando-Kissimmee metropolitan statistical area is the third largest in Florida behind Miami and Tampa. Orlando is home to Disney World, Sea World, Universal-Orlando and Lake Buena Vista. Orlando has become one of the nation’s largest visitor destinations and in fact, has the second largest number of hotel rooms, second only to Las Vegas, Nevada. There are many golf courses and with its warm sub-tropic climate, Orlando is a popular destination for visitors and a great place to live.
Orlando Reverse Mortgage Limits
HUD has now announced its interpretation of H.R. 3221 and how it will implement this legislation. HUD has announced that the legislation calls for a national limit of $417,000 for the HECM program and currently has the new limits posted on its website. This is very exciting for Orlando residents as they were previously subject to much lower limits throughout the area. What this means is that if you are a senior borrower and you own a home in the area valued at more than the previous limits, this represents a very large opportunity. Many senior homeowners have seen their retirement funds shrink drastically over the last 15 months. A top congressional budget analyst estimates that pension plans have lost as much as $2 Trillion during this same time. This change in lending limits could not have come at a better time for some Orlando seniors who may now be forced to find other ways to augment their incomes.
Orlando borrowers can choose several options to receive their reverse mortgage proceeds. They can get them all up front in a lump sum; they can choose to receive a monthly payment; they can choose to keep the money available to them in a line of credit to use when they wish; or they can choose a combination of all of the previously mentioned options. When Orlando borrowers do not take all their funds at the beginning of the loan and choose to use the line of credit option, the line of credit grows annually on the unused portion as the borrower would be eligible for a higher loan amount at the increased age. Some borrowers have asked whether or not they should wait for a few years to apply until they are older to take advantage of higher principal limits for older borrowers. Only you and your trusted financial advisors know your situation but there are other factors which go into the determination of how much money you will receive on a reverse mortgage which also include interest rates and property values. If your property value declines, you may be eligible for less money. If the interest rates rise from their current near-historic low levels, then you may also be eligible for less money. The other factor that could change and on which we have already seen several changes this year alone is the margin. The margin is added to the index to determine the final rate you pay and margins have risen this year as uncertainty has grown in the mortgage secondary market. When the margin rises, your ultimate rate increases and you will receive less money.
The only constant is your age…you do know how old you are and you do know when your next birthday is. No one can predict the future with interest rates or property values. If the values rise considerably, you can refinance a reverse mortgage and the HUD insurance does not need to be paid a second time…you would just pay the difference, if any, from your old premium amount to the new premium based on any increase in the principal lending limit in your area. The Senior Specialists at All Reverse Mortgage Company are committed to helping you with answering all your questions and if the reverse mortgage is right for you, closing your loan quickly and easily. If it’s time for you to put your equity in reverse so that you can keep your life moving forward, then we’re here to help!
Orlando Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Orlando (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 Anaheim 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.Orlando Links:
Orlando Senior Services | Orlando Assisted Living
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently brought exclusive offers to our valued Anaheim 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 3.68% (5.25% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 2.98% with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Plans|
|ZERO Financed Closing Cost Plans|
|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 literally all 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 Anaheim, CA 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!"|