Compare Washington's Best Reverse Mortgages
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Your Home's Value
Your ARLO™ Analysis
Top 10 Reverse Mortgage Lenders in Washington
|Lender Name||Years in Business||Stars (0-5.0)||Positive Reviews||Complaints||BBB Reviews|
|All Reverse Mortgage, Inc. (ARLO)||16||4.96||99%||1||Source|
|American Advisors Group (AAG)||16||4.01||80%||66||Source|
|HighTech Lending Inc||14||3.0||60%||0||Source|
|Fairway Independent Mortgage||24||4.97||99%||33||Source|
|Finance of America Reverse LLC (FAR)||17||1.0||20%||3||Source
|Liberty Home Equity Solutions, Inc.||17||3.0||60%||1||Source|
|Longbridge Financial LLC||8||1.90||38%||13||Source|
|Mutual of Omaha Mortgage||7||3.29||33%||10||Source|
|One Reverse Mortgage LLC (Quicken)||35||1.0||20%||3||Source|
|Reverse Mortgage Funding LLC||8||1.82||36%||12||Source|
All Reverse Mortgage® is proud to be Washington's #1 Rated Reverse Mortgage Lender celebrating 16 years of excellence. We are the only WA 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!
Washington Reverse Mortgage Facts
Top 10 Reverse Mortgage Cities in Washington by MCA (April 2020)
|State||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Lenders in Washington||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 Washington and offers 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; or can help borrowers utilize their equity for other purposes if they have no existing loan or possibly a combination of both.
About All Reverse Mortgage® of Washington
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.
Washington Lending Limits
Washington, also known as “the Evergreen state,” has a population of 7,614,893 as of 2019, with over 420,000 of those people being homeowners age 62 and older. That means that nearly half a million Washingtonians may be eligible for a reverse mortgage.
The median home value in Washington is just under $430,000, which is much lower than the HECM reverse mortgage lending limit of $822,375.
The state is the northwestern-most state in the country and includes the mountains of the Cascade Range running north and south throughout the state. The largest city in Washington is Seattle with a population of just under 700,000, followed by Spokane, Tacoma, Vancouver and Bellevue.
Washington is generally seen as a friendly state for seniors for a multitude of reasons. While it has a temperate climate that doesn’t get as hot nor as cold as other territories, it is also one of only seven states in the nation that doesn’t levy a personal income tax or collect a corporate income tax and franchise tax.
Keep in mind though that the average home value is still below the national lending limit for reverse mortgages, so if you qualify for the loan, you could eliminate your mortgage payment and continue to live in your home through retirement.
Washington is also a leading agricultural state and made a total of $10.2 billion in 2013 from agricultural products. Also, in 2013, the state was ranked first in the country in production of raspberries, hops, spearmint oil, sweet cherries, pears, concord grapes and peppermint oil.
Washington is also a bastion for the American tech industry, due in no small part to Microsoft calling the Seattle suburb Redmond its home, along with retail giants Amazon and Costco Wholesale residing within the state. Other major companies based in the state include aircraft manufacturer Boeing, video game giant Nintendo of America and travel company Expedia Group.
In addition, the state is known to have a great apple industry because of the dry, warm summer climates and cold winters in central Washington.
And for you wine lovers, Washington ranks the second in the nation in the production of wine, behind California.
If you reside in Washington, All Reverse Mortgage® is here to answer your questions.
Other Areas of Interest in Washington
Washington Approved Reverse Mortgage Counseling Agencies
|Agency Name||Phone||Address||Website||Agency ID||Languages|
|URBAN LEAGUE OF METROPOLITAN SEATTLE||206-461-3792||105 14th Ave Suite 200|
SEATTLE, Washington 98122-5569
Did you know? Washington state 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 Washington 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:
|Exclusive 3.06% (4.06% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 2.23% 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 Washington 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!"|