Santa Rosa 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 Santa Rosa, 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 Santa Rosa 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.
Santa Rosa Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in Santa Rosa (est)
||Avg. Home Value
Santa Rosa 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 Rosa 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 Rosa Lending Limits
Santa Rosa is located within Sonoma County, California. Located near the San Francisco Bay Area, Santa Rosa is the fifth-largest
city in the Bay Area behind San Jose, San Francisco, Oakland and Fremont.
As of 2015, the city’s population is about 172,066 people. Approximately 30,318 residents are seniors 62 years and over, or about 17.6
percent of the city’s overall population are citizens that meet the age requirement for reverse mortgages.
Santa Rosa was first incorporated in 1868 and since then has become a unique city. On one hand, it’s tucked away and
often passed over as visitors flock to San Francisco or Oakland. On the other hand, Santa Rosa is a hub for artistic
attractions, recreational facilities, wine trails, pristine cycling roads and plenty of microbrews.
The city’s climate is not all that different from other Bay Area cities. With wet, cool winters and dry (and warm) summers, Santa Rosa residents
have plenty of opportunities to enjoy the outdoors when they aren’t working.
Santa Rosa’s economy is diverse, though about 49 percent of the employed population works in the “Services” category. According to
the Sonoma County Economic Development Board, Services encompasses health care, education, legal services and tourism.
The second- and third-largest employment sectors are retail trade and manufacturing, respectively.
The median home value in Santa Rosa is $533,000, which is an increase of 6.9 percent in the last year. It is predicted that home values
will rise again this year by 1.8 percent. Even with the predicted rise in home values, a number of homes will still be well under the maximum
federal reverse mortgage lending limit of $636,150 that applies to all HECM loans. But for more borrowing power above the federal limit, jumbo
reverse mortgage programs are available.
If you reside in Santa Rosa 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