Compare Oro Valley's Best Reverse Mortgages
Did You Know?
Your Home's Value
Great News! Your ARLO™ analysis is ready
Oro Valley Reverse Mortgage Lenders
We are proud to be Arizona'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 including all of Arizona and Oro Valley, AZ.
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 Oro Valley 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.
Oro Valley Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Oro Valley (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 Oro Valley 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 Mortgage® 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 well. Jumbo or proprietary programs typically offer much lower Principal Limits as they relate to values, 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 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.
Oro Valley Details
A suburban town located about six miles north of Tucson, Arizona, Oro Valley is situated on the western border of the beautiful Catalina State Park in the shadow of Mount Kimball. While different kinds of settlers have inhabited what is now Oro Valley for millennia, the settlement as it is today started to come into greater focus during a gold rush that took place in the mid-to-late 19th century.
As some were heading west into California in an attempt to find their fortunes, some of those travelers found themselves attracted to the promise of possible gold deposits in southern Arizona. Rumors of gold locked in deposits surrounding the South Catalina mountains saw an influx of people into the area, as prospectors and treasure hunters made their way through Oro Valley as they panned along the Cañada del Oro washbed.
It wasn’t until the middle of the next century, though, that more and more people started to settle in the area that would become Oro Valley. After the conclusion of World War II in 1945, the Tucson area saw a significant increase to its population that spilled over into Oro Valley. After the establishment of a country club in 1959, opened at the base of nearby Pusch Ridge just east of the Pima Wash, Oro Valley began to earn a reputation as a community of affluence.
It wasn’t until the late-1960s, however, that area residents began to view incorporation of the area as its own official town as a top priority. While there were some initial efforts by the then-mayor of Tucson to expand that city’s boundaries to encompass Oro Valley, the bigger problem came when the Pima County Board of Supervisors officially refused to grant Oro Valley its own official incorporation. A court battle proceeded all the way up to the Arizona state Supreme Court, and in 1974, Oro Valley was officially incorporated as a town in Pima County, Arizona.
Oro Valley has a wide variety of things to do for residents, including both family-oriented activities and an array of bars and restaurants, along with the area country club and multiple museums. As such, this moderately-sized town prides itself on being a business-friendly environment. There’s also a burgeoning bioscience and technology business community in industries related to things like polymers, pharmaceuticals and anatomical pathology diagnosis.
The town also plans to launch what it calls “Innovation Park” in late 2019, designed to attract additional businesses in the life science and engineering business sectors to operate in Oro Valley.
Tax-wise, perhaps the most relevant point to be made for homeowners is the fact that Oro Valley does not have a city property tax, slightly lessening the burden particularly for those who may engage in a reverse mortgage, which typically requires homeowners to stay current on any associated property taxes.
Climate-wise, Oro Valley is very similar to neighboring Tucson. The highest recorded average temperature in the area is 100.3 degrees Fahrenheit in June, with the coldest average temperature being 64.8 degrees in December. Still, the temperature likely skews a little lower than Tucson’s in practicality since Oro Valley’s elevation is a couple of hundred feet higher than Tucson’s.
Being west of the Santa Clarita mountains also brings slightly more rain to the Oro Valley area than Tucson, which sits more on the southern side of the mountains.
Oro Valley Senior Population and Lending Limits
Over a quarter of Oro Valley’s population (26%) is made up of seniors that are at least 65 years old, based on data from the U.S. Census Bureau. The vast majority of Oro Valley’s senior population, 85% (over 5,700 households) are also homeowners as opposed to renters. That means there’s a reasonably large community of seniors that have put down roots in the area.
Thousands of the senior households in Oro Valley 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 Arizona, Oro Valley’s median home price is over $50,000 higher than the rest of the state at $304,300, according to the Zillow Home Value Index. Prices in the area have increased 2.9% over the past year, and Zillow projects that they will continue to rise over the course of the next year by roughly 1%.
While some homes in Oro Valley may be worth more than this median value, if your home has been appraised for more than the HUD lending limit of $822,375, 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 HUD-backed HECM reverse mortgage.
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 Oro Valley, All Reverse Mortgage® is here to answer your questions.
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently brought exclusive offers to our valued Oro Valley 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 3.06% (4.06% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 2.23% 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 Oro Valley, AZ 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!"|