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The minimum qualifying age for a reverse mortgage is 62. If you are within 6 months from your next birthday, I will automatically calculate you a year older.
Tip! Don’t forget to include your spouse’s age, even if they are not yet 62, as loan proceeds are always based on the age of the youngest spouse.
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From America's #1 Rated Reverse Mortgage Lender

Port St. Lucie 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+ Exemplary Rating. We currently lend in 16 states and all throughout Florida.

All Reverse Mortgage was incorporated in November 2004 and as the name implies, the only loan product that All Reverse Mortgage® originates is in fact, the reverse mortgage.

We’re committed to be your lender because you deserve the best rate at the lowest price possible.

We’re a HUD Approved direct lender lending the national HECM programs and offer a suit of Non-FHA & Jumbo Reverse Mortgages to better suit homeowners in Port St. Lucie with higher value homes over the national 2020 lending limit of $765,600 as well as those with Non-FHA approved condominiums.

We welcome you to compare our reviews and our lower rates and closing costs to any other major lender! The difference is clear, and we can’t wait to show you

Port St. Lucie Reverse Mortgage Facts

City Homeowners Age 62+ Reverse Mortgages Closed Last 12 Months Purchase Reverse Mortgages Closed Last 12 Months Lenders in Port St. Lucie (est) Avg. Home Value
Port St. Lucie 14,069 $243,785

HUD Approved Direct Lenders

United Southwest and All Reverse are approved lenders with HUD (Department of Housing and Urban Development) 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 Port St. Lucie and closes both refinance loans where borrowers already own their home and are looking 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 the 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.

Port St. Lucie Details

Port St. Lucie is the most populous city in its eponymous county, and is located in the central southeastern region of the state of Florida. Situated about 125 miles southeast of Orlando, the city has an estimated 2019 population of just over 200,000 residents according to U.S. Census Bureau data. Its history does not extend back very far in comparison with other localities in Florida, since as recently as the 1950s, much of the region which Port St. Lucie would come to occupy sat as vacant land not far from U.S. Route 1.

In 1958, a land development company in the state of Florida simply called the General Development Corporation (GDC) purchased the River Park development and 40,000 acres (160 km2) along the North Fork of the St. Lucie River with a reported budget of $5 (or about $45.24 in 2020 values when accounting for inflation). The next year, the GDC opened its first bridge over the St. Lucie River, allowing cars to gain direct access to what would become Port St. Lucie.

By February of 1961, Port St. Lucie was a burgeoning community, laying claim to 250 new homes which led GDC to request that the land, along with the River Park development, be incorporated into the city of Port St. Lucie, Florida. The state legislature considered and granted the GDC’s request, and Port St. Lucie received its official incorporation as a city in the state of Florida on April 27, 1961 with the signature of Democratic Governor C. Farris Bryant.

While originally envisioned solely as a residential area, the community started to develop into a location for business complexes due to its centralized location in the southeast region of the state. A flourish of new development activity in the 1990s brought businesses, arts and entertainment to Port St. Lucie, which would go on to contribute to a notable period of growth the city experienced from the late 1990s through the 2000s.

An initial wave of development brought a wave of nearly 7,000 new jobs into Port St. Lucie, and in 2006 a development company started construction on a new community called “Tradition.” Tradition was constructed on 13 million square feet of commercial land, with room for about 18,000 new homes earmarked for construction.

However, the presence of many new residential homes also led to a literal declaration of disaster, due to the collapse of the housing market and the resulting financial crisis in 2007-08. Unemployment spiked to 10.5% and nearly 11,000 homes went into foreclosure by 2009, causing the county to consider having itself declared as a disaster area, which could’ve given it access to additional funds needed to stave off further economic degradation.

However, Port St. Lucie found something of a new lease on life as a privately-owned, 150-acre research park dedicated to drug discovery would end up calling Port St. Lucie home. The Florida Center of Innovation (later renamed Tradition Center for Innovation) is a campus dedicated to immunology, medical devices and healthcare, where two scientific research companies continue to work to this day.

Port St. Lucie (and more specifically Tradition) is also home to a $38 million, 400,000 square foot manufacturing and distribution center belonging to TAMCO, a subsidiary of City Electric Supply. Construction on the massive complex began in 2018 and was completed by the end of 2019. Interestingly, Port St. Lucie has also appeared or been mentioned in film and television, serving as a filming location for the Roger Moore-starring James Bond film Moonraker, and receiving mentions by name on an episode of popular political drama series The West Wing in its second season.

Port St. Lucie Lending Limits

16 percent of Port St. Lucie’s population is made up of seniors that are at least 65 years old, based on U.S. Census Bureau data. Of Port St. Lucie’s senior population, 92 percent are also homeowners as opposed to renters. That means there’s a dedicated community of seniors that call Port St. Lucie their long-term home.

Thousands of the senior households in Port St. Lucie 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 Florida, Port St. Lucie’s median home price is roughly $15,000 less than the rest of the state at $243,785, according to the Zillow Home Value Index. Prices in the area have increased 4.5 percent over the past year, and Zillow projects that they will continue to rise over the course of the next year by roughly 4.8 percent.

Some homes in Port St. Lucie may be worth more than this median value. If your home has been appraised for more than the HUD lending limit of $726,525, 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 FHA-insured HECM loan.

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 Port St. Lucie All Reverse Mortgage® is here to answer your questions.

 

Top Florida Lender Resource Links:
Reversemortgage.org NRMLA Members in Florida: https://www.reversemortgage.org/Find-a-Lender/state/FL
HUD.GOV Approved Lenders in Florida for HECM Loan

Our Exclusive Programs Designed to Fit Your Needs.

All Reverse Mortgage© has consistently broughtexclusive offers to our valued Port St. Lucie 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
*Complete form above to receive a comparison of all available programs. Excludes state taxes when applicable. Min loan amount for $0 origination fee is $40,000. *APR ran at $185,000 loan amount / 60% or less PLF utilization. Lifetime rate cap on all adjustable rate plans just 5% over the start rate.

How can we offer you more favorable terms?

We are a direct lender approved by FHA (Federal Housing Administration)
The HECM is literallyall 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

It may surprise you but those "celebrities" you see all over TV have some of the worst independent consumer ratings in the industry. Compare us and you will see the crystal clear difference, from customer service to loan terms we never compromise.

HUD approved direct lender.

Working with a local Port St. Lucie, FL 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!"

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