Virginia Beach Reverse Mortgage Lenders
At All Reverse Mortgage, Inc. (ARLO™), we are honored to serve the wonderful community of Virginia. With a perfect 5.0-star rating and an A+ rating from the Better Business Bureau, we’ve become the top-rated reverse mortgage lender in Virginia, a testament to our unwavering commitment to helping homeowners like you.
For over 20 years, we’ve focused exclusively on reverse mortgages, working tirelessly to understand and meet the unique needs of homeowners across Virginia. Since our start in November 2004, our mission has been simple: to provide you with the best rates and most competitive pricing, allowing you to make the most of your hard-earned home equity.
As a HUD-approved direct lender, we offer a variety of reverse mortgage options, including the widely respected Home Equity Conversion Mortgage (HECM) programs and specialized non-FHA and jumbo reverse mortgages. We understand that Virginia homeowners deserve choices, especially when it comes to high-value properties that exceed the national lending limit of $1,149,825 for 2024.
We encourage you to see the difference for yourself. Compare our customer reviews, lower rates, and competitive closing costs with other major lenders. We’re confident that you’ll find our approach uniquely tailored to your needs, with a focus on maximizing your home’s equity in a way that benefits you the most.
All Reverse Mortgage is fully licensed by the Bureau of Financial Institutions (License/Registration MC-5551), ensuring you receive the trusted service you deserve. We’re here to help you navigate your options and secure a brighter financial future in the comfort of your Virginia home.
Virginia Beach Reverse Mortgage Facts
| City | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Purchase Reverse Mortgages Closed Last 12 Months | Lenders in Virginia Beach (est) | Avg. Home Value |
|---|---|---|---|---|---|
| Virginia Beach | 33,211 | 78 | 7 | 57 | $378,710 |
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 Virginia Beach 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.
Virginia Beach Lending Limits
Virginia Beach, Virginia, is one of the many independent cities within the Commonwealth of Virginia. Currently, about 438,000 residents call
Virginia Beach home. Senior homeowners 62 years or older make up about 15.1 percent of the population.
Virginia Beach was first incorporated as a town in 1906, but in 1952, it incorporated itself as a city. Since then, it’s grown to become the most
populous city in Virginia, and it’s easy to see why. Virginia Beach has something for everyone, including the East Coast Surfing
Championships, the Virginia Beach Amphitheater and nearly 210 city parks. Virginia Beach is also a big tourist destination and draws
people from around the country.
The city’s economy is composed of the health care and retail trade sectors, followed by hospitality, education and professional services.
As of January 2023, the median home value in Virginia Beach is $378,710 which is an increase of 10.3% in the last 12 months. While some of the homes in Virginia Beach are valued below the federal
maximum reverse mortgage lending limit of $1,149,825 that applies to government-insured HECM loans, other homes may exceed
the maximum reverse mortgage lending limit. However, senior homeowners can still look to jumbo loan programs to tap into their
home’s equity for higher valued homes.
If you reside in Virginia Beach or are planning to move there, All Reverse Mortgage is here to answer your questions.
