Seattle Reverse Mortgage Lenders
We are proud to be Washington's #1 rated reverse mortgage lender by the BBB with a Perfect 5.0 stars and A+ review. All Reverse Mortgage® lends in 16 states states nationwide, including Seattle, WA. All Reverse began in 2004 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 Seattle 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® is well positioned to be able to assist borrowers with all specific needs associated with the reverse mortgage program.
Seattle Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in Seattle (est)
||Avg. Home Value
HUD Approved Direct Lender
All Reverse Mortgage® 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® originates in Seattle 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® 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 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.
Seattle Lending Limits
The seaport city of Seattle holds the title of the largest city in both the state of Washington and the Pacific Northwest region of North America.
In May 2015, the city made the top five fastest-growing major cities in the country list.
As of 2015, there were estimated to be 684,451 people calling Seattle home. Of those residents, 54,584 of them were homeowners 62 and older.
The city was previously inhabited by Native Americans and was named in 1852 after Chief Si’ahl of the local Duwamish and Suquamish tribes.
In the late 19th century, Seattle began in its first major industry, logging. The Boeing company settled in The Emerald City and brought even more
growth following World War II.
Seattle also became a music center in the early 1900s and had almost two dozen jazz nightclubs. Musicians Ray Charles, Quincy Jones and
Ernestine Anderson all developed their early careers in the city. Seattle is also the birthplace of rock legend Jimi Hendrix.
The 1980s marked the transition of the city turning into a technology center when Microsoft set up shop there, followed by
Amazon in the mid-1990s. Between 1990 and 2000, Seattle saw an influx in population of almost 500,000.
The average home value in Seattle is $624,700, which has increased 11.4% in the past year. The maximum lending limit of $636,150 applies to
FHA-insured reverse mortgages, but jumbo loans are available for homes with values that fall above that lending limit.
There are plenty of things to do to stay busy in Seattle including visiting the Seattle Orchestra, the Pacific Northwest Ballet, the Seattle Art Museum,
the Seattle Great Wheel and the Seattle International Film Festival each year over Memorial Day weekend.
If you reside in Seattle or are planning to move there, All Reverse Mortgage is here to answer your questions.
reverse mortgage calculator to
estimate your reverse mortgage loan amount or call us Toll Free (800) 565-1722.
Additional Washington State Resource Links:
Top 10 Lender Reviews & Ratings: https://reverse.mortgage/best-reverse-mortgage-lenders
Reversemortgage.org NRMLA Members in Washington: https://www.reversemortgage.org/Find-a-Lender/state/WA
HUD.GOV Approved Lenders in WA State for HECM Loan