Sun City's AZ #1 Reverse Mortgage
Reverse Mortgage Calculator
All Reverse Mortgage, Inc. (ARLO™) is 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 and our headquartered in Southern Arizona.
All Reverse Mortgage was incorporated in CA November 2004 and as the name implies, the only loan product that All Reverse Mortgage, Inc. (ARLO™) originates is in fact, the reverse mortgage.
We’re committed to be your lender because you deserve the best rate at the lowest price possible.
We’re a HUD Approved direct lender lending the national HECM programs and offer a suit of Non-FHA & Jumbo Reverse Mortgages to better suit homeowners in SoCal with higher value homes over the national 2023 lending limit of $1,089,300.
We welcome you to compare our reviews and our lower rates and closing costs to any other major lender! The difference is clear, and we can’t wait to show you!
Sun City Reverse Mortgage Facts
|City||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, 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 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 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 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.
Approved Sun City AZ Communities
HUD has provided guidance that the Preservation and Improvement Fee (PIF) charged by the Recreation Centers of Sun City appears to meet the definition of an excepted transfer fee based on language contained within 12 CFR 1228 and would not render a property ineligible for FHA financing.
Effective immediately ARM will begin accepting HECM loans located within the Sun City, Arizona that include a Preservation and Improvement Fee (PIF) as long as the fee meets this definition. This guidance applies only to Sun City, AZ and Sun City West and does not extend to any other Sun City projects not currently approved until such time as bylaws with provisions that meet HUD’s requirements are provided for those communities.
These loans will be subject to acceptability based on the current use of the PIF and accompanying language in the legal PUD documents. If the PIF use is modified in the future or if FHA deems these loans unacceptable for any reason, FAR will update its stance and loans in the pipeline may be impacted and rendered ineligible.
IMPORTANT: This change only applies to the below Sun City projects and does not include any other project within Sun City at this time. As new Sun City developments are approved, they will be added to ARM’s Approved PUD list.
The following Sun City projects are currently approved:
Sun City Aliante
Sun City Anthem
Sun City Apple Valley DBA Solera at Apple Valley
Sun City Carolina Lakes
Sun City Civic City of Menifee
Sun City Festival
Sun City Georgetown
Sun City Grand
Sun City Hilton Head
Sun City Las Vegas
Sun City Lincoln Hills
Sun City Oro Valley
Sun City Palm Desert
Sun City Palm Springs/Palm Desert
Sun City Roseville
Sun City Shadow Hills
Sun City Summerlin
Sun City West
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 $290,390, according to the Zillow Home Value Index as of January 2023. 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, Inc. (ARLO™) is here to answer your questions. Call us at (623) 244-4664
Arizona Approved Reverse Mortgage Counseling Agencies
|Agency Name||Phone, Toll-Free,
Agency ID: 84690
|TAKE CHARGE AMERICA||Phone: 623-266-6149
Agency ID: 84813
|NATIONAL FOUNDATION FOR CREDIT COUNSELING, INC.|
|ADMINISTRATION OF RESOURCES AND CHOICES||Phone: 520-623-9383-1002
Agency ID: 81052
|WESTERN ARIZONA COUNCIL OF GOVERNMENTS (WACOG)||Phone: 928-217-7123
Agency ID: 82429
|RURAL COMMUNITY ASSISTANCE CORPORATION|
|WESTERN ARIZONA COUNCIL OF GOVERNMENTS HOPE - HECM||Phone: 928-217-7161
Agency ID: 82904
|HOUSING OPTIONS PROVIDED FOR THE ELDERLY(HOPE)|
Did you know? Sun City does not mandate in-person counsleing. Visit our counseling page for a list of phone-based counseling agencies and conduct your required counseling from the comfort of your home.