Philadelphia Reverse Mortgage Lenders
At All Reverse Mortgage, Inc. (ARLO™), we are proud to be Pennsylvania’s #1 Rated Reverse Mortgage Lender, as recognized by the Better Business Bureau. We have a perfect 5-star rating and an A+ exemplary score. We’ve been serving Pennsylvania homeowners since 2004 and are dedicated to providing reverse mortgages that help you enjoy your retirement years with peace of mind.
We understand that you deserve the best possible rate with the lowest costs. That’s why we focus solely on reverse mortgages, ensuring you receive expert guidance every step of the way. As a HUD-approved direct lender, we offer both national HECM programs and specialized jumbo Reverse Mortgages for homeowners with higher-value properties in Philadelphia and the surrounding area.
We invite you to compare our customer reviews, lower rates, and closing costs with those of any other lender. We’re confident you’ll see the difference, and we look forward to helping you achieve your financial goals.
All Reverse Mortgage, Inc. is licensed by the Department of Banking and Securities (License/Registration #38143)
Philadelphia Reverse Mortgage Facts
| City | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Purchase Reverse Mortgages Closed Last 12 Months | Lenders in Philadelphia (est) | Avg. Home Value |
|---|---|---|---|---|---|
| Philadelphia | 114,497 | 201 | 0 | 54 | $242,586 |
HUD Approved Direct Lender
At All Reverse Mortgage, Inc. (ARLO™), we’re proud to be approved by the Department of Housing and Urban Development (HUD) to offer the Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage. We handle everything from start to finish, ensuring you’re in trusted hands throughout the process.
We serve Philadelphia, helping homeowners refinance their homes, whether to eliminate existing mortgage payments or to access their home equity for other needs. Our team is here to guide you whether you’re looking to pay off your current loan, free up some extra cash, or both.
About All Reverse Mortgage, Inc.
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 they bring that extensive experience to serve Pennsylvania homeowners. We understand the unique needs of those living in the Keystone State, especially in regions where home values may exceed what the standard HUD HECM can cover. That’s why we continually seek out new products, including jumbo or proprietary loan programs, to better serve homeowners with high-value properties.
Navigating the reverse mortgage landscape can be complex, especially in Pennsylvania’s diverse housing markets. Only a seasoned originator familiar with Pennsylvania residents’ specific needs can readily inform you which program will best suit your needs, outlining the pros and cons so that you can make a well-informed decision.
In Pennsylvania, where many homeowners are rooted in communities with strong historical and familial ties, the reverse mortgage has become more than just a financial tool—it’s a way to stay comfortably in the home you’ve cherished for years. Whether you’re looking to eliminate existing mortgage payments or set up a growing line of credit, this program allows you to utilize your home’s equity to live comfortably and plan for the future without the burden of monthly payments.
Philadelphia, Pennsylvania Reverse Mortgage Lending Limits
As Pennsylvania’s largest city and the sixth-largest in the United States, Philadelphia boasts a rich history dating back to its founding in 1682. The city played a pivotal role in the American Revolution, serving as the site where both the Declaration of Independence and the U.S. Constitution were signed.
Today, Philadelphia is home to approximately 1.6 million residents, with senior homeowners aged 62 or older making up about 15.3% of the population. This large community of seniors means that many homeowners in Philadelphia may qualify for a reverse mortgage to help tap into their home equity.
Diverse Economy and Local Attractions
Philadelphia’s economy is as diverse as the city itself. Nearly 20% of its population works in social assistance or healthcare, and other significant sectors include retail trade, education, food services, public administration, manufacturing, and construction.
Philadelphia is also packed with activities for residents and visitors alike. From historical landmarks like the Liberty Bell to its vibrant neighborhoods filled with local shops and restaurants, there’s always something to explore. And for sports fans, you can always cheer on the Eagles, 76ers, or Flyers.
Philadelphia Housing Market and Reverse Mortgage Opportunities
As of January 2024, the median home value in Philadelphia is $242,586, reflecting a 6.4% increase over the last 12 months. Many homes in the city fall below the federal maximum reverse mortgage lending limit of $1,149,825, making them eligible for government-insured HECM loans. However, homeowners with homes valued above this limit can also take advantage of jumbo reverse mortgage programs to tap into higher amounts of their home’s equity.
Unlocking Your Home’s Equity
If you’re a homeowner aged 62 or older in Philadelphia, a reverse mortgage could be an ideal way to access your home’s equity and gain additional financial flexibility for retirement. Whether you’re interested in eliminating monthly mortgage payments or accessing extra funds, All Reverse Mortgage, Inc. (ARLO™) is here to help you explore your options.
Call us today Toll-Free at (800) 565-1722, or visit our reverse mortgage calculator to see how much you could access with a reverse mortgage. We’re committed to helping you make informed decisions to ensure your retirement is enjoyable and stress-free.
