Sun City Reverse Mortgage Lenders
All Reverse Mortgage® is headquartered in Southern California, but lending in many states nationwide, including Sun City, Arizona. All Reverse began in
November 2007 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 Sun City 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.
Sun City Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in Sun City (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 Sun City 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 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 the 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.
Sun City Lending Limits
Sun City, AZ has the reputation of being one of the first communities specifically designed for the age 55-plus population. This active adult community,
which is an unincorporated town within the Phoenix metropolitan area, is home to more than 37,000 residents-of which 75% are older than age 65,
according to the U.S. Census Bureau.
With such a large share of the population at retirement age, it's fitting that approximately 32,400 homeowners living in Sun City are at least 62 years old,
making them eligible for a reverse mortgage. And many homeowners in the area have already turned to reverse mortgages to supplement their retirements.
The median price of homes currently listed in Sun City is $162,250, according to the Zillow Home Value Index. On a per square foot basis, homes in Sun City
are cheaper compared to Phoenix ($106 vs. $142), only adding to the appeal for retirees looking to trade in their urban surroundings for more peace and quiet.
Since its founding in 1960, Sun City continues to thrive as the town has invested millions of dollars into adding shopping centers, businesses, dining and a
variety of health care facilities to accommodate residents from all walks of life.
If you're a golfer, Sun City is a players paradise with eight golf courses spanning over 1,100 acres-all within six square miles.
That means you can play a different course every day of the week!
But even if golf isn't your thing, Sun City also boasts an array of other amenities for people seeking an active lifestyle.
With more than 50 years under its belt, Sun City has already begun welcoming a third generation of older adults who
will redefine the traditional concept of retirement.
If you reside in Sun City, 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