Compare Virginia's Best Reverse Mortgages
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Top 10 Reverse Mortgage Lenders in Virginia
|Lender Name||Years in Business||Rating||Stars (0-5.0)||Positive Reviews||Complaints||BBB Reviews|
|All Reverse Mortgage, Inc. (ARLO)||15||A+||4.9||99%||1||Source|
|American Advisors Group (AAG)||14||A-||4.1||82%||53||Source|
|Longbridge Financial, LLC||6||A+||3.5||70%||2||Source|
|Reverse Mortgage Funding LLC||6||A+||3.0||50%||8||Source|
|One Reverse Mortgage, LLC (QUICKEN)
|Liberty Home Equity Solutions, Inc. (OCWEN)||15||A+||2.1||42%||2||Source|
|Retirement Funding Solutions (RFS)||9||A+||(N/A)||(N/A)||1||Source|
|Fairway Independent Mortgage||23||A+||2.1||42%||21||Source|
|HighTech Lending Inc.||13||A-||2.0||60%||2||Source|
|Finance of America Reverse LLC (FAR)||15||A+||1.0||20%||2||Source|
All Reverse Mortgage® is proud to be Virginia’s #1 Rated Reverse Mortgage Lender celebrating 15 years of excellence. We are the only VA company awarded an A+ Rating by the BBB with perfect 5-Star Reviews.
Since we started in 2004, our goal has remained simple: to offer the best terms with unbeatable customer service.
Compare our competitive rates and lower costs to any competitor and realize thousands more from your home’s equity!
The difference is clear, and we can’t wait to show you!
Virginia Reverse Mortgage Facts
Top 10 Reverse Mortgage Cities in Virginia by MCA (April 2020)
|State||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in California||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 Virginia 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® of Virginia
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 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 as well.
Virginia Lending Limits
“The Old Dominion State” has a population of 8,535,519 and 518,015 of those people are homeowners age 62 and older, which means more than five hundred thousand people may be eligible for a reverse mortgage.
The 2020 average home value in Virginia is $291,002, which is much lower than the HECM reverse mortgage lending limit of $765,600
The state was given its nickname as “Mother of Presidents” because eight U.S. presidents were born there, which is more than in any other state. The state’s history, however, starts with several indigenous groups, one being the Native American people Powhatan.
In 1607, the colony of Virginia was established, and ultimately became one of the 13 original states during the American Revolution when the Founding Fathers declared sovereignty from Great Britain. Because of its early history as a colony going back to the first few years of the 17th century, Virginia is the oldest continuous law-making body in the “New World.” During the American Revolutionary period, Virginians played a key role in the establishment of the United States, as Virginian James Madison wrote “the Virginia Plan,” a proposal for the government of the new nation which included three branches of government and a bicameral legislature.
Much of the structural proposals in the Virginia Plan were later adapted into the United States Constitution, and Madison would go on to write the Bill of Rights in 1789. Virginia ratified the Constitution in mid-1788, and gained an early foothold in the legislature after the three-fifths compromise contributed to Virginia’s major presence in the House of Representatives due to its large population of enslaved people.
Of course, the arguably most notable Virginian during the American Revolution was General George Washington, who led the Continental Army to victory in the Revolutionary War and who would go on to become the first President of the United States. Washington died at his home in Mount Vernon, Virginia in December of 1799, and the grounds are preserved today and serves as General Washington’s final resting place.
Into the 19th century, Virginia came to rely heavily on slave labor as a key element of its economy, with nearly a third of the state’s population being made up of enslaved people by 1860. The growing discontent around the institution of slavery coupled with the election of abolitionist Abraham Lincoln to the presidency that year contributed to Virginia’s secession from the Union, becoming a key location in the insurgent Confederate States of America.
Virginia officially seceded following the initial conflict of the American Civil War at Fort Sumter in South Carolina. This led to the establishment of the state of West Virginia, which separated from Virginia in order to remain loyal to the Union. Virginian Robert E. Lee took command of the primary military force that fought on behalf of the Confederacy. Lee was a noted tactician who led the Confederate forces to victory in several engagements across Virginia, which was the location of more battles during the war than any other territory.
Eventually, reorganization on the part of the Union Army allowed it to more consistently best the Confederate forces, culminating in the Battle of Appomattox Court House which ended with Lee’s surrender to the Union Army of the Potomac led by General Ulysses S. Grant. Richmond — the site of the Confederate capital — fell to Union forces in early April, and the war came to a quick end.
The arrival of President Lincoln in Richmond shortly after the fall of the capital was a symbolic statement of the victory of the Union, though instead of arriving as a “conqueror to exult over a brave but fallen enemy,” Lincoln’s arrival instead was as “a peacemaker, his hand extended to all who desired to take it," according to Navy Admiral David D. Porter, who arrived in the city with Lincoln. The president was assassinated by Confederate sympathizer John Wilkes Booth just over a week after his Richmond visit.
While the state was economically devastated by the Civil War, it nonetheless worked to restore its stature after its re-admission to the Union in 1870. Throughout the 20th century and even contending with difficulties like the Great Depression and World War II, Virginia leaned into its foundational role in the founding of the United States and saw investors and other stakeholders help to restore colonial Williamsburg into a major American tourist destination which persists to this day.
Virginia also came to be an important location in the makeup of the U.S. federal government, as the city of Langley became the site of the Central Intelligence Agency’s headquarters, and Quantico became the site of the FBI Academy that trains new special agents and other specialists.
Today, Virginia’s makeup includes one of the highest concentrations of veterans of any state and has the highest concentration of technology workers of any state. Tourism is also a large part of the state’s economy, generating an estimated 210,000 jobs and $21.2 billion in 2012.
The largest areas in the state for tourism are Arlington County, Fairfax County, Loudoun County and Virginia Beach. Arlington County includes the city of Arlington, which is more urban and has numerous opportunities for shopping, dining and exploring the arts. Virginia Beach is also a popular destination in Virginia for outdoor activities such as visiting its beach parks that take up more than 4,000 acres of land.
If you reside in Virginia, All Reverse Mortgage® is here to answer your questions
Other Areas of Interest in Virginia
Virginia Approved Reverse Mortgage Counseling Agencies
|Agency Name||Phone||Address||Website||Agency ID||Languages|
|PEOPLE INCORPORATED OF VIRGINIA||276-623-9000||1173 W. Main Street|
ABINGDON, Virginia 24210-4703
|MONEY MANAGEMENT INTERNATIONAL - ALEXANDRIA VA||866-232-9080||5680 King Centre Dr Ste 600|
Alexandria, Virginia 22315-5755
|PIEDMONT HOUSING ALLIANCE||434-817-2436||682 Berkmar Circle|
CHARLOTTESVILLE, Virginia 22901-1464
|ASIAN AMERICAN HOMEOWNERSHIP COUNSELING||703-291-6324||8280 Willow Oak Corporate Drive|
FAIRFAX, Virginia 22031-4518
|PRINCE WILLIAM COUNTY VIRGINIA COOPERATIVE EXTENSION||703-792-4713||8033 Ashton Avenue, Suite 105|
MANASSAS, Virginia 20109-2895
|CHILD & FAMILY SERVICES OF EASTERN VIRGINIA, INC. D/B/A THE UP CENTER||757-622-7017||222 W 19th St|
Norfolk, Virginia 23517-2218
|HOUSING OPPORTUNITIES MADE EQUAL OF VIRGINIA, INCORPORATED||804-354-0641||626 E Broad St Ste 400|
Richmond, Virginia 23219-1890
Did you know? Virginia does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies and conduct your required counseling from the comfort of your home.
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently brought exclusive offers to our valued Virginia homeowners. Because of our unique process we're able to offer a better federally-insured reverse mortgage with no compromise.
Take a look at some of our competitive rates that you won't find elsewhere:
|Exclusive3.43% (4.43% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 2.92% with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Plans|
|ZERO Financed Closing Cost Plans|
|ZERO Monthly Servicing Fees on ALL programs|
How can we offer you more favorable terms?We are a direct lender approved by FHA (Federal Housing Administration) The HECM is literally all we do. All Reverse Mortgage is not just a name for us. We have a very low (almost non-existent) staff turnover and our people are experts. We don't work with Brokers, allowing us to pass the savings on to you. We don't hire "celebrity" spokespersons as we don't believe you should have to pay for a lender's expensive marketing budget with higher loan costs. We Charge Less! Check out our competition and our customer ratings. We never forget that this loan is about you and your needs and we put you first with superior service and lower costs.
All Reverse vs. the others
HUD approved direct lender.
Working with a local Virginia lender saves you time and money.
As an award-winning direct lender our goal remains simple; to offer you the very best terms accompanied by extraordinary customer service.
What Our Customers Are Saying
|"There was no car salesman type of protracted negotiation. All reverse got right down to a good quote without a series of incremental steps."|
|"I was surprised how easy it was to deal with an out of state company. Actually it was much easier than my previous dealings with local banks and brokers"|
|"It is a wonderful feeling to have no mortgage and extra cash in our pocket. We are very happy."|
|"Thank you to All Reverse for handling everything in an efficient and smooth way. Thoroughly appreciate everything you have done to make things easy for me."|
|"This was the smoothest mortgage process I have ever experienced! And so fast!"|