Surprise Reverse Mortgage Lenders
We are proud to be Arizona's #1 rated reverse mortgage lender by the BBB with a Perfect 5.0 stars and A+ review. All Reverse Mortgage® lends in 14 states states nationwide, including Surprise AZ. 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 Surprise 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.
Surprise Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in Surprise (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 Surprise 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 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.
Surprise Lending Limits
Located in Maricopa County, Surprise, Arizona has seen rapid expansion in the last 15 years. From 2000 to 2010, the population grew 218% from just over
30,000 residents to over 117,000. Because of this, Surprise is the second fastest expanding area among all cities and towns in Arizona.
Arizona in general is also an ideal location for older adults and those who may want to retire to a warmer climate. But Surprise has just under 15,000
homeowners age 62 and older, which is about 12.5% of the cities population, as of the 2010 census.
This makes the city an ideal area for many to explore the option of a reverse mortgage. Even more, the average home value in Surprise is about $234,900,
which is well under the federal HECM lending limit of $636,150.
Surprise is surrounded by nature including a lake and the Sonoran desert. The city has become an ideal location to open a business, but back when it
was founded in 1938, the founder Flora Mae Stalter didn't think it would amount to much. She actually gave the city the name of Surprise because she once
said "she would be surprised if the town ever amounted to much." In fact, it did and is booming.
The city is also home to Surprise Stadium where spring training is held for the Texas Rangers and Kansas City Royals.
If you reside in Surprise, 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