Top 10 Reverse Mortgage Lenders in South Carolina

All Reverse Mortgage, Inc. (ARLO™) is proud to be South Carolina's #1 Rated Reverse Mortgage Lender celebrating 18 Years of excellence. We are the only SC company awarded an A+ Rating by the BBB with perfect 5-Star Reviews.

Since we started in 2004, our goal has remained simple: to offer the best terms with unbeatable customer service.

We are HUD Approved and offer a full suite of HECM & Jumbo Reverse Mortgages.

Compare our competitive rates and lower costs to any competitor and realize thousands more from your home’s equity!

The difference is clear, and we can’t wait to show you!

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 South Carolina 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® of South Carolina

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 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 as well.

South Carolina Lending Limits

“The Palmetto State” has a population of 5,148,714 and is home to one of the lowest property tax rates in the country.

The median home value in South Carolina is $353,100, which is much lower than the HECM reverse mortgage lending limit of $1,089,300.

Originally settled by Europeans in the 1500s by the Spanish, the land that would become South Carolina was first settled by British colonists the following century and was split off into South Carolina from its northern counterpart in 1729. In March of 1776, the colony adopted the Constitution of South Carolina, and joined the new United States after its separation from Great Britain was codified by the writing of the Declaration of Independence that July.

Nearly a third of the combat that took place during the Revolutionary War took place across South Carolina, more than any other state. After the war and throughout the Antebellum period, South Carolina became dominated by cotton particularly after the invention of the cotton gin, and consequently much of the state’s economy was held up by the labor of enslaved people. Upon the election of Abraham Lincoln to the Presidency of the United States in 1860, Lincoln’s abolitionist positions were met with strong opposition across the state, and led to South Carolina becoming the first state to secede from the Union and form the Confederate States of America. With insurgent Confederate batteries shelling Fort Sumter in Charleston Harbor, the American Civil War was ignited.

Unlike in the Revolutionary War, South Carolina was not a major battleground during the Civil War but did not escape the war’s economic devastation of the Confederacy. After the Union’s final victory in the war, it took an additional four years for South Carolina’s representation to be restored in the U.S. legislative branch.

In the 20th century, the state carved a niche for itself as a powerhouse in the textile industry, and the economy has emerged as an attractive one for major businesses due to the very low corporate tax rate in the state. Boeing opened an aircraft manufacturing plant in Charleston in 2011.

The state is also known as being the country’s leading peach producer and distributor east of the Mississippi River. To celebrate its many peaches, South Carolina holds a peach festival each year in the city of Gaffney. The festival has been around for decades and involves a parade, car show, road race, dog show, talent show, dessert contest, and of course, a peach eating contest.

South Carolina is divided into three areas: the Atlantic coastal plain, the Piedmont region and the Blue Ridge Mountains. The state has several major lakes that cover more than 683 square miles. Some of the lakes are: Lake Marion, Clarks Hill Lake, Lake Moultrie, Lake Hartwell and Russell Lake.

South Carolina’s economy comprises many agricultural products, as the climate for agriculture in the state is ideal. Some of the state’s major outputs include tobacco, poultry, cattle, dairy products, soybeans, hay, rice and swine.

Currently, the average home value in South Carolina is $190,594 and values are expected to fall in the next year due to the widespread impact of the COVID-19 pandemic.

If you reside in South Carolina, All Reverse Mortgage, Inc. (ARLO™) is here to answer your questions.