Compare Scottsdale's Best Reverse Mortgages
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Scottsdale 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+ Exemplary Rating. We currently lend in 16 states including all of Arizona and Scottsdale, AZ.
All Reverse began in 2004, and as the name implies, the only loan product that All Reverse Mortgage, Inc. (ARLO™) originates is the residential reverse mortgage loan.
We offer reverse mortgages to Scottsdale 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, Inc. (ARLO™) is well positioned to be able to assist borrowers with all specific needs associated with the reverse mortgage program.
Scottsdale Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Scottsdale (est)||Avg. Home Value|
HUD Approved Direct Lender
All Reverse Mortgage, Inc. (ARLO™) 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, Inc. (ARLO™) originates in Scottsdale 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, Inc. (ARLO™) 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 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.
Scottsdale Lending Limits
Scottsdale, AZ is often selected as a popular destination for retirees given the city's arid desert climate, scenic landscape and abundance of amenities designed for taking it easy.
The city, which is annually rated among the nation's most desirable communities to live in, boasts a vibrant downtown scene that is home to more than 90 restaurants, 320 retail shops and more than 80 art galleries.
For the outdoorsy types, Scottsdale's McDowell Sonoran Preserve, located in the city's northern region, is the largest urban wilderness area in the U.S. and features more than 60 miles of trails through scenic desert terrain.
Approximately 236,000 people call Scottsdale, AZ their home. Of this population, at least 20% is age 65 or older, according to Census Bureau data. More than 35,000 homeowners living in the city are age 62 and older, making them eligible to apply for a reverse mortgage.
To qualify for a reverse mortgage, you must be at least 62 years of age and have sufficient equity in your home. You will also be required to demonstrate your ability and willingness to maintain mandatory obligations, such as property taxes and homeowner's insurance, throughout the life of the loan.
Among all homeowners living in the area Scottsdale metropolitan area, the median home price is $414,100, according to the Zillow Home Value Index. Zillow also indicates that prices have been rising in Scottsdale and will continue to increase over the next year.
For now, this means that half of Scottsdale homeowners have properties valued above $414,100, and half of homeowners have properties valued below that price level. This bodes well for homeowners with home prices below the HUD loan limit of $636,150, who may be able to take advantage of a HECM loan. But this doesn't mean that homeowners with more expensive properties are excluded from getting a reverse mortgage.
These higher value homeowners may be better suited obtaining a "jumbo" reverse mortgage, thus allowing them to potentially access a greater portion of their home equity than they would otherwise access with a traditional HECM.
It is important to note that reverse mortgages might not be the right fit 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 Scottsdale, All Reverse Mortgage, Inc. (ARLO™) is here to answer your questions.
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently brought exclusive offers to our valued Scottsdale 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 5.81% (6.81% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 4.88% with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Options|
|ZERO Financed Closing Cost Options (*on select jumbo programs)|
|ZERO Monthly Servicing Fees on ALL programs|
How can we offer you more favorable terms?We are a direct lender approved by FHA (Federal Housing Administration) The HECM is literally all 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
HUD approved direct lender.
Working with a local Scottsdale, AZ 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!"|