Washington D.C. Reverse Mortgage Lenders
All Reverse Mortgage® is headquartered in California and provides lending services around the country. All Reverse began in November 2007 and as the
name implies, the only loan product that All Reverse Mortgage® originates is the residential reverse mortgage loan.
We offer reverse mortgages to Washington D.C. homeowners and our staff has a combined lending experience exceeding 100 years with national mortgage banking
experience on both coasts and points between. Due to this varied direct experience, All Reverse Mortgage® is well positioned to be able to assist borrowers
with all specific needs associated with the reverse mortgage program.
Washington D.C. Reverse Mortgage Facts
||Homeowners Age 62+
||Reverse Mortgages Closed Last 12 Months
||Purchase Reverse Mortgages Closed Last 12 Months
||Lenders in Washington D.C.
||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 D.C. 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.
Washington D.C. Lending Limits
As the capital of the United States of America, Washington, D.C. was officially made a district through the signing of the Residence
Act on July 16, 1790. The District is not part of any state, but Maryland and Virginia donated land to the federal district in its early years.
There are estimated to be 681,170 residents in the federal district, but the D.C. metro area has a population of more than 6 million people.
Washington, D.C. is arguably best known as the home of democracy and where many decisions related to American government are made
across the three branches of U.S. government. Home to Congress and the White house, the area is also home to numerous national monuments and
museums, many of which are situated on or around the National Mall.
Aside from being the main location for governmental affairs, D.C. is also a prominent center for national and international media.
The Washington Post was founded in 1877 in D.C. and is the oldest and most-read local daily newspaper in the area. The publication has
gained many followers for its coverage of national and international politics as well as its work in exposing the Watergate Scandal.
D.C. has become a center for professional business as well. It has the sixth-largest metropolitan economy in the country. Due to the district’s
increase in job opportunities and its place as a hub for foreign embassies, the housing market in the area is booming. The median home value in
D.C. is $559,200, which has gone up 10.7% in the last year—though values are projected to rise just 3.6% in the next year.
If you reside in Washington D.C., All Reverse Mortgage® is here to answer your questions. Access our free calculator to estimate
your reverse mortgage lending limit or call us Toll Free (800) 565-1722