Sylmar Reverse Mortgages
At All Reverse Mortgage, Inc. (ARLO™), we take pride in being California’s #1 Rated Reverse Mortgage Lender. We have a perfect 5-star rating from the Better Business Bureau and an A+ Exemplary Rating. We’ve been serving communities across California and 15 additional states since 2004, all from our headquarters in Southern California.
We focus solely on reverse mortgages, so you can trust that we have the expertise you need. We’re dedicated to providing you with the best possible rates and the lowest costs, ensuring you get the most out of your home’s equity.
As a HUD-approved lender, we offer national HECM programs and provide non-FHA and Jumbo Reverse Mortgages for those with higher-value homes exceeding the national 2024 lending limit of $1,209,750.
We invite you to compare our reviews, rates, and closing costs with those of any other lender. We’re confident you’ll see the difference and are excited to help you make the most informed decision.
Sylmar Reverse Mortgage Facts
| City | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Purchase Reverse Mortgages Closed Last 12 Months | Lenders in Sylmar, Los Angeles (est) | Avg. Home Value |
|---|---|---|---|---|---|
| Sylmar, Los Angeles | 13,000 (estimate) | $735,407 |
HUD-Approved Direct Lender
At All Reverse Mortgage, Inc. (ARLO™), we are proud to be approved by the Department of Housing and Urban Development (HUD) to offer the Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage. We take care of everything, from the application to closing, ensuring you’re in good hands every step of the way.
We serve homeowners in Anaheim, helping those who already own their homes refinance to eliminate their monthly mortgage payments or access their home equity for other needs. Whether you want to pay off your existing loan, free up some extra cash, or do both, we’re here to help.
About Us
Our team at All Reverse Mortgage has deep experience in the industry. In 2008, we were part of the group that introduced the first fixed-rate jumbo reverse mortgage, so we understand both HUD-backed HECM loans and jumbo (or proprietary) loans. This expertise allows us to offer options for homeowners with higher-value homes that may not be fully covered by HUD’s HECM program.
Choosing the right loan can be challenging, but our experienced originators are here to guide you. We’ll explain the options, including the pros and cons of each, so you can make the best decision for your situation. Whether a HUD HECM or a jumbo loan is right for you depends on your unique needs, and we’ll ensure you have all the information to make an informed choice.
For homeowners aged 62 and older, a reverse mortgage can be a valuable financial tool. It’s not just a last resort; many are using it to enhance their retirement plans. With a reverse mortgage, you can eliminate monthly mortgage payments or set up a line of credit that grows over time, helping you live comfortably and plan for the future.
Sylmar Details
Sylmar is the northernmost neighborhood in Los Angeles, California, the second-largest city in the nation. It’s primarily known for its abundant olive orchards, and its history dates back to the 18th century.
As of 2008, the population is estimated to be around 80,000 residents, with one of the lowest population densities in the Los Angeles area. In 1893, the area of unincorporated land left over after the establishment of San Fernando as a city was named Sylmar.
Sylmar is one of the most diverse neighborhoods in Los Angeles. Its population increased by over 30% between 1980 and 1990, leading to a housing shortage in the area. However, population density has remained relatively low over the past forty years.
Sylmar is home to the nationally renowned Nethercutt Collection, a museum that features an extensive display of early and classic cars. The collection has been praised by the New York Times and the Washington Post as one of the finest car collections in the world. Professional baseball player Alex Mejia, born in Sylmar, went on to help lead the Arizona Wildcats to victory in the 2012 College World Series. He later played for Major League Baseball, joining the St. Louis Cardinals in 2012 and remaining with the team until 2018.
Sylmar Lending Limits
According to U.S. Census Bureau data, 10 percent of Los Angeles’ population comprises seniors aged 65 and older. Among this senior population, 59 percent are homeowners rather than renters. This indicates that many seniors have made Sylmar their long-term home.
Thousands of senior households in Sylmar may be eligible for a reverse mortgage. Many of these older homeowners have researched and are using reverse mortgages to support their retirement needs.
According to the Zillow Home Value Index, as of January 2023, Sylmar’s median home price is $735,407, which is lower than the average home price in California. However, home prices in the area have increased by 4.7% over the past year.
Some homes in Sylmar may be valued above this median price. If your home has been appraised for more than the HUD lending limit of $1,209,750, you may still be able to access your home equity through a reverse mortgage.
If you’re a homeowner in this situation and are interested in using a reverse mortgage to supplement your retirement, you may want to consider a jumbo reverse mortgage. This option could allow you to access more of your home equity than an FHA-insured HECM loan would offer.
While reverse mortgages may not be the perfect solution for every homeowner, they can be a valuable tool depending on your unique situation as you approach retirement.
If you’re a homeowner in Sylmar aged 62 or older, and you’re curious about how a reverse mortgage could benefit you, All Reverse Mortgage, Inc. (ARLO™) is here to help.
Call us today at Toll-Free (800) 565-1722 or visit our calculator to explore your options. We’re ready to answer your questions and help you make the most of your home’s equity—so you can confidently enjoy your retirement. Don’t wait—reach out to us today!
