Greenville's #1 Reverse Mortgage

Michael G. Branson, CEO of All Reverse Mortgage, Inc., and moderator of ARLO™, has 45 years of experience in the mortgage banking industry. He has devoted the past 20 years to reverse mortgages exclusively. (License: NMLS# 14040)

All Reverse Mortgage's editing process includes rigorous fact-checking led by industry experts to ensure all content is accurate and current. This article has been reviewed, edited, and fact-checked by Cliff Auerswald, President and co-creator of ARLO™. (License: NMLS# 14041)

By Michael G. Branson   Edited by Cliff Auerswald

Greenville Reverse Mortgage Lenders

We are proud to be South Carolina’s #1 rated reverse mortgage lender by the BBB with a Perfect 5.0 stars and A+ review. All Reverse Mortgage, Inc. (ARLO™) lends in 16 states nationwide, including Greenville, SC.

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 Greenville 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.

Greenville Reverse Mortgage Facts

HUD Approved Direct Lenders

All Reverse Mortgage Inc. (ARLO™) 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 Greenville 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.

Greenville Details

The land that now eoncompasses modern day Greenville actually served as hunting grounds for the Cherokee Native American tribe,
and was off-limits to European colonists. This started to change in 1754 with the arrival of Virginia settler Richard Pearis, a wealthy man who
established relations with the Cherokee and eventually fathered a child with a Cherokee woman. Stemming from this, Pearis was given
approximately 100,000 acres of land, on which he established a plantation on the Reedy River in what is now downtown Greenville.

With the onslaught of the American Revolutionary War, many communities in what would become South Carolina were viciously split between
loyalist factions that saw the authority of the British King as still legitimate inside the proverbial “new world,” and patriots who sought to support
independence of the American colonies from Great Britain. Pearis was a loyalist to the British crown, and attacked the patriot revolutionaries with
his Cherokee allies. This led to patriot retaliation in the form of burning down his plantation, before he was subsequently jailed in Charleston.
Pearis never returned to his plantation after that.

In 1786, Greenville county was first established in South Carolina, and was named according to some for General Nathanael Greene in
honor of his service in the American Revolutionary War. Vardry McBee moved to the area in 1834 when it was known as “Pleasantburg,”
and came to be considered “the father of Greenville” due to his donations of land for churches, school facilities and a cotton mill.

Furman University was funded by McBee, and in 1853 McBee and other Greenville County leaders funded the Greenville and Columbia
Railroad providing much-needed transit access to residents and travelers. Pleasantburg’s population grew significantly through
the 1850s due to the influential actions of McBee, and in 1831 Pleasantburg was officially incorporated as Greenville.

Like much of South Carolina, however, the path of the prosperous community would be changed by the onslaught of the American Civil War.
In 1860, Geenville was part of a state delegation that supported secession from the Union, an instrumental occurrence in the ultimate
formation of the Confederate States of America. While Greenville County would end up supplying an estimated 2,000 troops to the Confederate
Army, the town itself managed to remain relatively peaceful and untouched by the surrounding conflict for the duration of the war.

As the Confederacy drifted closer to defeat and not long after the capital city Richmond, Virginia fell to Union forces, Union troops came to
Greenville for the first time during the war in its closing days in an attempt to find and apprehend Confederate President Jefferson
Davis who had fled Richmond as the Union approached.

Throughout the early years of the 20th century, Greenville would have an important role to play in American affairs, serving as host to
a training ground for American troops during World War I. The years following WWI saw a significant expansion of Greenville’s local
amenities, including department stores and movie theaters. Greenville was not spared the financial upheaval of the Great Depression,
however, with its local mills being forced to lay off a significant number of workers. Furman University and Greenville Women’s College
were also forced to combine their institutions as a way to cope with the Depression.

Greenville, however, benefitted from the program’s of The New Deal spearheaded by President Franklin D. Roosevelt. The New Deal helped
to establish Sirrine Stadium as a popular sporting venue, and secured the construction of a new facility for Greenville High School. During
World War II, the Greenville Army Air Base that allowed the city to grow even further, and once again directly contributed to an American
war effort.

After the war, Greenville’s economy saw rapid expansion and growth. Universities and technical colleges in the area significantly increased
the amount of enrollees at the institutions, and though it endured economic difficulty along with much of the countries in the 1970s,
Greenville bounced back yet again and has grown into a vibrant community that nearly 70,000 people call home today.

Sitting evenly between Atlanta, Georgia and Charlotte, North Carolina, Greenville sits in the midst of the beautiful Blue Ridge
Mountains and enjoys generally comfortable variation in its climate between the seasons. The average low on its coldest month
generally hits 32 degrees Fahrenheit, while its average high in the summer reaches around 90 degrees in July. Greenville is also
home to a number of historical landmarks, year-round festivals dedicated to the arts and its history, and is often host to a number
of different kinds of live events owing to the multiple venues the city plays host to.

The economy while formerly based around the manufacturing of textiles, has favorable wages and tax benefits which have
brought in foreign companies to set up shop in the town. Greenville is the North American headquarters for Michelin, AVX
Corporation, Ameco, Southern Tide, Confluence Outdoor, Concentrix, JTEKT, Cleva North America, Hubbell Lighting and Scansource.

Greenville Senior Population and Lending Limits

13 percent of Greenville’s population is made up of seniors that are at least 65 years old, based on U.S. Census Bureau data. Of Greenville’s
senior population, 67 percent (accounting for over 3,300 households) are also homeowners as opposed to renters. That means there’s a
dedicated community of seniors that call Greenville their long-term home.

Thousands of the senior households in Greenville may be eligible to obtain a reverse mortgage. Several of these older homeowners
have already done their research and begun using reverse mortgages to support their retirement needs.

Compared with the average home price in South Carolina, Greenville’s median home price is slightly greater than the rest of the state at
$311,184, according to the Zillow Home Value Index.

Some homes in Greenville may be worth more than this median value. If your home has been appraised for more than the HUD
lending limit of $1,209,750, you may still be able to tap into your home equity with the help of a reverse mortgage.

If you’re a homeowner who fits this description and you’re interested in using a reverse mortgage to supplement your retirement, you
might want to consider a jumbo reverse mortgage, from which you may be able to access a greater portion of your home equity than you
otherwise would with a FHA-insured HECM loan.

Reverse mortgages might not be the perfect solution 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 Greenville All Reverse Mortgage, Inc. (ARLO™) is here to answer your questions. Access our online reverse mortgage calculator to estimate your reverse mortgage lending limit or call usToll Free(800) 565-1722

Top 3 Lender Resources in SC:
Top 10 Lender Reviews & Ratings
Reversemortgage.org NRMLA Members in South Carolina: https://www.reversemortgage.org/Find-a-Lender/state/SC
HUD.GOV Lenders: HUD.GOV Approved Lenders Search