Santa Clara County Reverse Mortgage Lenders
All Reverse Mortgage® is headquartered in California and provides lending services around the country. 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 Santa Clara County 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.
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 Santa Clara County 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.
Santa Clara County Lending Limits
Santa Clara County is one of the most well-known areas in the U.S. After all, it’s home to Silicon Valley and to many of the world’s leading
technology and service companies. Google, Facebook, PayPal and Apple are just some of the companies headquartered in Santa Clara County.
But Santa Clara County isn’t just a hotspot for groundbreaking technologies. The area is surrounded by two mountain ranges, remains temperate
throughout the year and is also home to Stanford University, San Jose State University and Santa Clara University.
Santa Clara County is the sixth-largest county in California with a population of about 1.9 million, according to the U.S. Census. Senior citizens 62
years and older number just under 257,000, or about 12 percent of Santa Clara Valley’s population.
The economy in Santa Clara is primarily driven by computer, software and technology companies. Hospitals, NASA and Stanford are also
major parts of the county’s economy.
The median home price in Santa Clara Valley is about $1 million, which is an increase of 3.9 percent over the last year. It is predicted
that home values will continue to increase this year by 1.7 percent. This means that many homes will likely be over the maximum federal reverse
mortgage lending limit of $636,150 that applies to all HECM loans. For homes that are valued above this limit, there are jumbo reverse mortgage
loans available that can extend borrowing power beyond the federal lending limit.
If you reside in Santa Clara County All Reverse Mortgage® is here to answer your questions. Access our free calculator to estimate your reverse mortgage lending limit or call usToll Free(800) 565-1722
• How to find the Best Reverse Mortgage Lender
• HUD.GOV Lender List
• ReverseMortgage.org Lender Finder