San Rafael Reverse Mortgage Lenders
All Reverse Mortgage ® is the trademarked business name of United Southwest Mortgage Corporation, Inc. headquartered out of Southern California but lending in many states nationwide, including San Rafael, CA. All Reverse began in November of 2007 and as the name implies, the only loan product that All Reverse Mortgage Company originates is the residential reverse mortgage loan (and United Southwest Mortgage Corporation as well for that matter).
We offer reverse mortgages to San Rafael 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 Company is well positioned to be able to assist borrowers with all the specific needs associated with the reverse mortgage programs.
San Rafael Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in San Rafael (est)
||Avg. Home Value
San Rafael 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 San Rafael 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.
San Rafael Lending Limits
San Rafael is located in Marin County, California. The city’s origins can be traced back to a Spanish religious mission.
In the hundreds of years since, San Rafael has grown into a city where 58,819 residents live, as of 2015. Senior homeowners 62 years or older make up
about 20.5 percent of the city’s population (12,051 residents).
San Rafael is somewhat of a hub for the entertainment industry. Before he rose to international fame, George Lucas filmed parts of his film
THX-118 in San Rafael. He also founded Lucasfilm in the city in 1971. Other top employers include the City of San Rafael, Kaiser Permanente, Comcast and
Dominican University of California.
The median home value in San Rafael is $965,800, which is an increase of 8.3 percent in the last 12 months. Over the next year, home prices are projected
to increase another 1.6 percent. Many homes in San Rafael are valued over the federal maximum reverse mortgage lending limit of $636,150 that applies to
government-insured HECM loans. However, senior homeowners can still look to jumbo loan programs to tap into their home’s equity for higher valued homes.
If you reside in San Rafael 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
· How to find the Best Reverse Mortgage Lender
· HUD.GOV Lender List
· ReverseMortgage.org Lender Finder