Top 10 Reverse Mortgage Lenders in Virginia
*Source: BBB Lender Ratings as of 12-23-2018
|Lender Name||Company Start Date ||Lender Rating ||Review Stars (0-5.0)||% of Positive Reviews||# of Complaints Last 3 Yrs.||BBB Reviews
|All Reverse Mortgage, Inc. of Virginia||05/27/2004||A+||5.0||100%||2||Review Source
|American Advisors Group (AAG)||10/29/2004||A- ||4.1||82%||41||Review Source
|Reverse Mortgage Funding LLC||09/25/2012||A+ ||3.2||64%||3||Review Source
|Live Well Financial, Inc.||08/28/2008 ||A+||2.1||17%||9||Review Source
|One Reverse Mortgage, LLC||07/12/2001||A+ ||3.2||60%||5||Review Source
|Liberty Home Equity Solutions, Inc.||09/05/2003||A+ ||2.7||40%||5||Review Source
|HighTechLending Inc||06/06/2006||C+ ||2.3||0%||2||Review Source
|Reverse Mortgage Solutions, Inc.||02/21/2007||F ||1.05||1%||86||Review Source
|Synergy One Lending, Inc. (Retirement Funding Solutions)||01/09/2013 ||A+||N/A||N/A||1||Review Source
|Finance of America Reverse LLC||10/15/2003||A+ ||N/A||N/A||3||Review Source
All Reverse Mortgage® is proud to be Texas'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 including all of Virginia
All Reverse Mortgage was incorporated November 2004 and as the name implies, the only loan product that All Reverse Mortgage® 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 Mortgage to better suit homeowners in VA with higher value homes over the national 2019 lending limit of $726,525.
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.
Virginia Reverse Mortgage Facts
|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®
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 lower Principal Limits as they
relate to home values, though, so not all borrowers are best served with the jumbo programs available.
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 for the future as well.
Virginia Lending Limits
As part of the Southern United States as well as the Mid-Atlantic region, Virginia is the 12th largest state in terms of population
and 35th largest by total area. The ‘Mother of Presidents’ had 8,411,808 total residents in 2016 and 694,862 of them were homeowners 62 and older.
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. Virginia was also one of the 13 colonies in the American Revolution as well as the oldest continuous
law-making body in the New World.
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.
Home prices are fairly level in Virginia, which saw an increase of 4.5% in the last year to $243,300 on average. There is an even smaller increase of 1.5%
predicted for next year.
If you reside in Virginia, All Reverse Mortgage® is here to answer your questions. Call Toll Free (800) 565-1722 – Or try ARLO™ our revolutionary reverse mortgage calculator that offers side-by-side program comparisons, real-time interest rates and expert recommendations.