Phoenix 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+ review. All Reverse Mortgage® lends in 14 states states nationwide, including Phoenix AZ. 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 Phoenix 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.
Phoenix Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in Phoenix (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 Phoenix 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.
Phoenix Lending Limits
The sixth largest city in the United States, Phoenix traditionally has been a popular destination for retirees looking to kick back and relax in the desert heat.
Due to its natural beauty and climate, the city also provides a wealth of outdoor attractions and recreational activities, including the Phoenix Botanical
Gardens, the Phoenix Zoo and South Mountain Park, which is the largest municipal park in the United States. Phoenix is also home to a
variety of major league sports teams, and is one of only 13 U.S. cities to have representatives of all four major professional sports leagues,
including the Arizona Cardinals (NFL), Arizona Diamondbacks (MLB), Arizona Coyotes (NHL) and Phoenix Suns (NBA).
Phoenix is also the most populous state capital in the U.S. with more than 1.5 million residents living in the city as of 2015. Of this total population,
8.4% are adults age 65 and older and approximately 78,000 homeowners living in Phoenix are eligible for a reverse mortgage.
Borrowers in this area have a median home value of $202,300, according to the Zillow Home Value Index. Prices have increased 9.2%
over the past year and Zillow predicts they will continue to rise 3.8% within the next year.
For homeowners with higher valued properties above the HUD lending limit of $625,500 for HECMs, they might want to consider a jumbo reverse mortgage,
which may allow them to access a greater portion of their home equity than a 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 near your retirement years.
If you reside in Phoenix, 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