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Reverse Mortgage Companies in Bainbridge Island, WA
Are you at least 62 years old and own a home in California? Are you looking for a way to capitalize on the equity in your home? You're certainly not alone. As Californians retire, many want to find ways to increase their cash flow, pay for home repairs, pay off debt, or meet other needs.
One option is a reverse mortgage, which lets you borrow funds against your home's equity
A reverse mortgage is a government-backed loan that allows eligible homeowners to access their home equity without needing to make monthly mortgage payments. But how do you find the best reverse mortgage companies in Bainbridge Island, WA when there are so many options on the table? If personalized service, clear communication, and knowledgeable agents are what you're seeking, look no further than All Reverse Mortgage - America's #1 rated reverse lender.

About the Author, Michael G. Branson
Mike@allreverse.comMichael G. Branson CEO, All Reverse Mortgage, Inc. and moderator of ARLO™ has 45 years of experience in the mortgage banking industry. He has devoted the past 20 years to reverse mortgages exclusively.

- Get Paid a Lump Sum for Your Home with All Reverse Mortgage
- Reverse Mortgage Companies in Bainbridge Island, WA
- 20 Years of Reverse Mortgage Broker Experience
- Reverse Mortgages 101
- Consider These Reverse Mortgage Pros and Cons
- What Kind of Reverse Mortgage is Right for You?
- The Reverse Mortgage Brokers in Bainbridge Island, WA You Can Count On
20 Years of Reverse Mortgage Broker Experience
When you want a top-quality steak in The Sunshine State, you don't pull up to a fast-food restaurant and expect to get a medium-rare filet. Similarly, when you want to work with the top reverse mortgage company in California, you don't go to a brand-new establishment without any reviews. You call All Reverse Mortgage for a free quote.

The All Reverse Mortgage Difference
All Reverse Mortgage is proud to be recognized as America's top HUD-approved reverse mortgage lender, consistently earning 4.99 out of 5 stars for our outstanding service. Our steadfast dedication to integrity and exceptional customer support has not only earned us an A+ Exemplary Rating from the Better Business Bureau (BBB) but also recognition as Torch Ethics Finalists in both 2021 and 2022.

We Focus on Affordability and Transparency
At All Reverse Mortgage, we prioritize a straightforward and client-focused process. By working directly with you, we cut out the middlemen, allowing for greater savings and benefits. Instead of spending money on expensive celebrity endorsements, we put our emphasis on delivering quality service from exceptional reverse mortgage originators in Bainbridge Island, WA. This helps us ensure our reverse mortgage solutions remain affordable, accessible, and transparent. This approach reflects our dedication to offering reliable and cost-effective options for our senior clients.
Now that you're familiar with All Reverse Mortgage and why our customers leave us consistent rave reviews, let's take a closer look at reverse mortgages, the basic requirements to qualify, and how much money you can get from a reverse mortgage.
Reverse Mortgages 101
At All Reverse Mortgage, our agents get a lot of reverse mortgage questions every day. One of the most frequently asked questions we get is a basic one: What exactly is a reverse mortgage?
A reverse mortgage is a type of loan that lets you tap into the equity of your home. Reverse mortgage age requirements state that they're designed for homeowners over the age of 62. When you take out a reverse mortgage, the funds you receive first go toward paying off your existing mortgage, if applicable, and any leftover money can be used according to your needs.
Since the loan covers your existing mortgage, you won't have to make monthly mortgage payments anymore. However, it's important to note that you still need to pay your property taxes and homeowners insurance and keep up with home maintenance. The loan will come due only when you move out of the home, sell it, pass away, or fail to meet the obligations of the loan, which include maintaining the property and paying taxes and insurance.
The most popular type of reverse mortgage is the home equity conversion mortgage - or HECM - which is backed by the Federal Housing Administration (FHA). At All Reverse Mortgage, our reverse mortgage brokers in Bainbridge Island, WA also offer:
- Jumbo Reverse Mortgages
- Proprietary Reverse Mortgages
- Purchase Reverse Mortgages

Who is Eligible for a Reverse Mortgage?

If you're interested in reverse mortgages, you should know that you've got to be eligible for one before you're approved. Reverse mortgage requirements include:
Primary Home
If you want to take out a reverse mortgage loan on your current home, it must be your primary residence. That means you have to live there for most of the year.
Age Requirements
Reverse mortgage requirements state that you have to be 62 years of age or older to qualify for a reverse mortgage. This age requirement is one of the primary factors for HECM reverse mortgage approval.
Types of Approved Properties
Homes eligible for reverse mortgages include townhomes, buildings with 2-4 units, some condos, single-family homes, and some manufactured homes approved by the FHA.
Required Counseling Sessions
If you apply for a reverse mortgage you must complete a HUD-approved counseling session that covers reverse mortgages. This counseling session can take place over the phone or in person. It's a crucial step that helps you completely understand reverse mortgage implications.
Assessment of Your Finances
All applicants are required to complete a comprehensive financial assessment designed to scrutinize their financial stability and capacity to uphold essential financial obligations. This assessment can include timely payment of your property taxes, which are crucial for maintaining ownership rights, and homeowner's insurance premiums, which protect the property from potential risks and damages
Curious whether you meet basic reverse mortgage requirements? Contact our office today. One of our knowledgeable mortgage experts will work with you to find out.
How Much Money Can a Homeowner Get from a Reverse Mortgage?

When looking into a reverse mortgage, an important question to consider is: how much can you actually borrow? This amount generally varies, falling between 36.3% to 71.9% of your home's value. Several factors play a role in determining this figure. These factors help ensure that your loan is customized to fit your unique circumstances.
Some of the factors that influence how much money you can borrow include:
The Reverse Mortgage Program You Choose
Depending on the program you choose, there will be different borrowing percentages to consider.
How Old You Are
Typically, older borrowers get a higher percentage of their home's value
Interest Rates
The market's current rates play a big part in figuring out how much money you can borrow.
All Reverse Mortgage Pro Tip
When you're working with reverse mortgage companies in Bainbridge Island, WA, ask them to tell you about loan limits on reverse mortgages. The lending limit for the 2025 HECM program is capped at $1,209,750. If you qualify for a jumbo loan program, that limit increases to $4M, depending on the value of your home and a few other factors.
How Do You Get a Personalized Loan Estimate?
To get a more precise estimate that suits your situation, think about using ARLO, an exclusive calculator for reverse mortgages. ARLO delivers up-to-date rates and eligibility details. Beyond simply being a calculator, ARLO offers individualized support to assist you in choosing the reverse mortgage option that aligns best with your financial goals.
Consider These Reverse Mortgage Pros and Cons
When utilized properly, a reverse mortgage - also referred to as a Home Equity Conversion Mortgage (HECM)-can provide additional security during your retirement. However, like any financial product, reverse mortgages may not be the right fit for everyone. Keep reading for more info on evaluating financial options, understanding potential risks and benefits, and making informed decisions about reverse mortgages.
Analyzing the Drawbacks of Reverse Mortgages
Let's take a closer look at some of the potential drawbacks you might have with reverse mortgages.
Initial Costs May Be Higher
Reverse mortgages, particularly the Home Equity Conversion Mortgage (HECM), usually cost more than traditional loans
One major expense is the FHA mortgage insurance, which includes a 2% upfront fee and a yearly 0.50% mortgage insurance premium (MIP). This insurance helps protect both borrowers and lenders from the risk of default. It ensures that borrowers or their heirs will not owe more than the home's value, even if the loan balance increases or property values drop.
These costs can be a significant burden for homeowners who are sensitive to closing costs. Lender credits might help reduce these expenses, but they have become less common due to interest rate hikes and inflation in 2022 and 2023.

All Reverse Mortgage Pro Tip
If you own a high-value property, consider a proprietary or jumbo reverse mortgage. These options do not require government insurance, which can save you the large upfront mortgage insurance costs. However, they often come with higher interest rates. Choosing a jumbo reverse mortgage could save you up to $24,195 in upfront mortgage insurance costs.
Scamming and Exploitation
In today's tech-heavy world, seniors often find themselves confused about how to use the internet and often blindly trust people who reach out to them online. This can result in seniors getting scammed and taken advantage of - especially when there are financial implications involved. One of the best ways to avoid this is by working with trustworthy, licensed reverse mortgage brokers in Bainbridge Island, WA. Seniors should also seek advice from trusted, independent financial advisors. That way, they're better protected against malicious actors who want to misuse their funds.

Analyzing the Benefits of Reverse Mortgages
Now that we've looked at possible disadvantages, let's examine the benefits of reverse mortgages. Here are several advantages that can render a reverse mortgage a worthwhile choice for financial planning.
No More Monthly Mortgage Payments
Reverse mortgages remove the requirement for monthly mortgage payments for qualified borrowers. This enables seniors to remain in their homes for the duration of their lives without the stress of making regular mortgage payments. Although monthly mortgage payments are waived, borrowers must still handle financial obligations such as property maintenance. They must also continue paying for property taxes and insurance.
No Restrictions on Tax-Free Money
Funds obtained from a reverse mortgage are not subject to taxes, making it a cost-effective method to tap into home equity. Homeowners have the option to receive their money in various ways, such as a single lump sum, a flexible line of credit, monthly disbursements, or a mix of these options. The versatility and tax-exempt status of these funds make reverse mortgages a valuable instrument for financial planning.
Financial Security for Life
A reverse mortgage line of credit provides the distinct advantage of lifelong security. HUD guarantees that money will always be accessible as long as there are remaining funds in your line of credit and you meet your loan responsibilities. This guarantee is a major benefit compared to conventional Home Equity Lines of Credit (HELOC), which financial institutions can freeze or cancel without warning.

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What Kind of Reverse Mortgage is Right for You?
If you're looking for ways to leverage your home's equity to boost your financial security during retirement, it's important to understand that there are three primary types of reverse mortgages, each tailored to meet different needs. While it's always best to work with experienced reverse mortgage originators in Bainbridge Island, WA who can explain the benefits of each mortgage to you in detail, we'll break down some of the most basic benefits of each below.
1. How Much Money Can a Homeowner Get from a Reverse Mortgage?

As we covered earlier, Home Equity Conversion Mortgages (HECM) are very popular and make up the majority of loans available in today's market. These loans are backed by the U.S. Department of Housing and Urban Development (HUD) through the Federal Housing Administration (FHA), providing homeowners with significant peace of mind.
Clients contact All Reverse Mortgage to learn more about HECM loans because they provide benefits like:
Non-Recourse Protection for Life
Despite how long you live or what market conditions are like, you won't ever owe more than the value of your home when it's sold.
Flexible Payouts
Choose from monthly payments, a line of credit, or a lump sum payout. This flexibility can be a deciding factor, especially for those in unique financial situations.
Freedom
Funds from HECM loans can be used for almost anything, both minor and major. Thinking about paying off another mortgage? You can do both with HECM money.
All Reverse Mortgage Pro Tip
When you're working with reverse mortgage companies in Bainbridge Island, WA, ask them to tell you about loan limits on reverse mortgages. The lending limit for the 2025 HECM program is capped at $1,209,750. If you qualify for a jumbo loan program, that limit increases to $4M, depending on the value of your home and a few other factors.
How Do You Get a Personalized Loan Estimate?
To get a more precise estimate that suits your situation, think about using ARLO, an exclusive calculator for reverse mortgages. ARLO delivers up-to-date rates and eligibility details. Beyond simply being a calculator, ARLO offers individualized support to assist you in choosing the reverse mortgage option that aligns best with your financial goals.
2. Jumbo Reverse Mortgages

Also called proprietary reverse mortgages, these loans are intended for homeowners whose properties are worth more than the federal limit of $1,209,750. In contrast to HECM loans, these private loans do not have federal insurance, providing increased flexibility in certain situations.
Clients contact All Reverse Mortgage to learn more about jumbo loans because they provide benefits like:
Eligibility
Proprietary reverse mortgages can allow for more flexibility when it comes to qualifying. Some lenders allow homeowners under the age of 62 to get a jumbo loan for a wider range of homes, including high-dollar condos.
Loan Limits
Jumbo loans are great for high-value homes and can provide significantly larger payouts than HECM reverse mortgages
Closing Costs
Since these loans don't necessitate paying mortgage insurance premiums at the start, borrowers can potentially save a significant amount-up to $24,195 in certain situations.
If you live in an area with expensive real estate, a jumbo loan could be a practical alternative to an HECM loan.
3. Single-Purpose Reverse Mortgages

Single-purpose reverse mortgages are a distinctive type of loan provided by non-profit organizations and government agencies. Unlike other reverse mortgages, these loans are designed for a specific purpose as defined by the lender.
Clients contact All Reverse Mortgage to learn more about single-purpose loans because they're eligible to be used for things like:
Property Taxes
If your property taxes are overdue, you could use funds from this type of loan to avoid financial penalties.
Modifications to a Home:
Installing ramps and railings or making your home safer or more accessible are two eligible uses of single-purpose reverse mortgages.
Choosing the right reverse mortgage depends on the value of your home, your financial goals, and eligibility.
The Reverse Mortgage Brokers in Bainbridge Island, WA. You Can Count On
Educating yourself and choosing the right reverse mortgage for your needs isn't always easy. Whether you're unsure if you qualify or you're having trouble choosing the right option, All Reverse Mortgage can help. We cut out the middlemen and apply those resources directly to our clients. That way, we can provide one-on-one, personalized assistance when you need it the most
If you're in search of an ethical, affordable, and reliable team of reverse mortgage originators, contact our office today. We'll be here to help provide you with the guidance and knowledge needed to make informed decisions about your financial future.
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Latest News in Bainbridge Island, WA
Bainbridge Island Is a Walkable Town in Washington Known for Its Gorgeous Parks and Gardens
Jenniferhttps://www.onlyinyourstate.com/trip-ideas/washington/bainbridge-walkable-city-wa
For many, Washington's beauty is rooted in its grandiose mountains and misty green forests. But there's so much more to love beyond these well-known sights! You can easily travel from border to border in Washington and never feel the doldrums of repetitive sights, but we often forget there's a whole other world just off the coast: Washington's islands. Arou...
For many, Washington's beauty is rooted in its grandiose mountains and misty green forests. But there's so much more to love beyond these well-known sights! You can easily travel from border to border in Washington and never feel the doldrums of repetitive sights, but we often forget there's a whole other world just off the coast: Washington's islands. Around 700 of them, actually!
Bainbridge Island may only be a 30-minute ferry ride across the Puget Sound from Seattle, but this island town and its neighborhood communities boast an incredible ecosystem unique from any other island in the state. Here, forests and wetlands blend seamlessly to create a beautiful, harmonious sanctuary for wildlife and native plants.
The town itself is lush, artistic, and undeniably charming, with smaller neighborhood communities each showcasing their own personality. Just a quick stroll through Winslow will take you to galleries, street art exhibits, and museums galore, while Fletcher Bay and North Bainbridge show off some seriously stunning farms and wineries. But whatever corner of Bainbridge Island you explore, the natural beauty even in the heart of town is on a whole other level, and wonderfully infused into every corner of the city and into every aspect of daily life.
Whether you're a gardening aficionado or sporting a set of black thumbs, you can't help but be taken aback by the sheer beauty of a lush botanical garden. Especially here in Washington, where everything is a little extra magical! But true to its vibrant cultural arts scene, Bainbridge Island is THE place to go for a quiet garden outing. The town is home to numerous parks and natural areas that are not only stunning but are worth visiting in every season.
Bloedel Reserve is one of the most treasured places to visit in Bainbridge and has been named as one of the top gardens in the U.S. for decades. Approximately 150 acres of beautifully manicured and lovingly tended gardens, trails, and ponds meander through the reserve, ranging from the quiet and reflective Japanese Garden to the dreamy Rhododendron Den to the Pollinator Meadow. Every corner feels straight out of a dream!
Sakai Park, which sits in the rolling hills in the center of the island, is a whimsical spot for all ages to visit. It's full of wide open spaces, picnic areas, and playgrounds ... plus a few surprises as well.
Intermingled with Bainbridge's many parks and gardens, you'll find some contemplative areas as well, including the Bainbridge Island Japanese American Exclusion Memorial. This historical landmark remembers and pays tribute to the thousands of Japanese Americans who were forcibly removed from their homes and interred in camps off the island during WWII. There's a self-guided walking tour here that is both beautiful and touching.
The 240-acre Grand Forest is an absolute dream for those who prefer to put a little mileage under their boots as they enjoy the sights and sounds of nature. Over seven miles of year-round trails crisscross under the forest's towering canopy and through multiple sections of the forest, including a few pretty creek crossings as well.
And you can't forget Gazzam Lake! This 13-acre nature reserve doesn't boast as many trails as Grand Forest, but the backbone of this gorgeous area is Gazzam Lake itself, which offers pretty wetland views and stunning sunsets.
And yet, there are still plenty more areas to explore in town and around the island! If you have kiddos in tow, Battle Point Park is a fun spot for a weekend picnic, or head to IslandWood for a more immersive experience. Manitou Beach Park, Lynwood Center Park, and numerous others all offer a little something different, plus gorgeous waterfront views everywhere you turn.
Washington solves the age-old question of mountains or ocean. The answer is both. Plus, desert canyons, towering cascades, coastal islands, and everything in between! From its urban jungles to its quiet, small towns, every corner of the Evergreen State has personality in spades, and Bainbridge Island just happens to have a little extra beauty to go along with it!
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Go troll hunting! Find 5 giant trolls in the Seattle area
JiaYing Grygielhttps://www.seattleschild.com/five-giant-trolls-coming-to-seattle-this-summer/
Need something to do with the family? Hunt for five giant trolls around the Seattle area. Thomas Dambo’s giant trolls are awake and ready to be discovered.The giant troll projectThe Bainbridge Island troll was the first in a series of five gigantic trolls Dambo has built for the Seattle area. The other trolls are in West Seattle, ...
Need something to do with the family? Hunt for five giant trolls around the Seattle area. Thomas Dambo’s giant trolls are awake and ready to be discovered.
The giant troll project
The Bainbridge Island troll was the first in a series of five gigantic trolls Dambo has built for the Seattle area. The other trolls are in West Seattle, Issaquah, Vashon Island, and Ballard.
The public art installations are free to visit … if you can find them. Dambo’s thing is building giant wooden trolls, and hiding them in nature for people to discover. The secrecy is part of the game, but we’re here to give you a couple hints.
Bainbridge’s troll (and clues to find her)
The Bainbridge troll, named Pia the Peacekeeper, is Dambo’s 121st troll. Go to Trollmap.com for a world map with the approximate locations of each troll.
Here’s what we can tell you: the Bainbridge troll sits in a park about a mile from the ferry terminal. There’s a tall pole with colorful birdhouses at the park entrance. Friends of the Bainbridge Troll also posted a few clues on its website. Nwtrolls.org also has a customized adventure app for each location. It’s an online scavenger hunt to send you on your own troll hunt.
“It’s a perfect way to engage all generations,” says Fidelma McGinn, president of the sponsoring company, Scan Design Foundation. “From grandparents to toddlers, everybody has a different reaction. But the ‘wow’ factor is independent of age.”
For more family friendly things to do, news, events and travel, sign up for Seattle's Child newsletters
About the giant troll project
The Pacific Northwest troll project, “Northwest Trolls: Way of the Bird King,” has been in the works for several years. It’s commissioned by the Scan Design Foundation, a cultural group that promotes American-Danish relations. Dambo and his wife came to scout sites in 2021, and then he returned to confirm the locations and concepts.
Dambo builds the trolls’ faces in his Copenhagen studio and the bodies on-site. The sculptures are made entirely of recycled materials and range from 15 to 20 feet tall. They’re meant to encourage us to get outside, inspire us to protect nature, and remind us that even garbage can become a resource.
Why giant trolls?
McGinn describes Dambo as “the Pied Piper of trolls.” Why trolls?
“He grew up with those stories and fairy tales as a kid. They’re very much steeped in the Nordic tradition of storytelling,” McGinn said. “If you’re not behaving as a kid, there’s a suggestion that the trolls can get you.”
Pia the Peacekeeper sits on the ground with her hands held out, playing with small human puppets. Note: You are the puppet. Go ahead and step into the troll’s grasp.
Who’s going to see the giant trolls? There’s no rush
As the crew cleaned up wood scraps and tools at the building site, a bicyclist paused his ride long enough to snap a photo. Families showed up with kids. A man with a walker and a rainbow outfit wheeled up for a photo op. The troll’s location is an open secret. The trolls will stay at each site for at least three years, up to 15 years (and open for discussion after 15 years).
Dambo’s wish for Seattleites is that troll-hunting will be a fun and positive experience.
“I hope they smile,” Dambo said. “I hope they’ll get some of the whimsy, fairytale in their life.”
Dambo started his cross-country tour in June 2023, traveling with his wife and their twin 1-year-old boys in an RV nicknamed the Trollercoaster. It was a 10-stop, 10-troll, road trip across the U.S., documented on his YouTube channel.
Our neighboring giant trolls and the team
A Portland troll — Dambo’s first PNW troll, named Ole-Bolle is located in the garden behind Nordia House and is made of reclaimed wood and old pallets. Ole-Bolle lifts the roof of a red cabin like a cookie jar to peek inside. Read more about the Portland troll.
Dambo travels with a crew of 10 from Denmark, and hordes of volunteers pitch in along the way. He’s staying in a borrowed house, driving a borrowed minivan. One volunteer is an artist from Arizona, another is a museum exhibit designer from San Francisco, and another is a long-time Dambo fan thrilled the artist is building a troll in her hometown.
Dawn Janow describes the troll construction as a “stone soup project.” The wood pallets were donated, and the troll’s hair is made of clippings from an apple orchard in Poulsbo. Her friend from yoga class brought lunch for everyone.
Officially, Janow is a member of the Bainbridge Island Park Board of Commissioners. Unofficially, she couldn’t resist helping out on the project.
“Why are we doing this?” Janow recalls someone asking at a meeting. “How about… joy!”
Trolling for happiness and joy
Dambo built his first troll nine years ago. It was a temporary installation, made for a music festival in Denmark. Another troll, in Puerto Rico, was swept away by Hurricane Maria. The idea of leaving wood sculptures sitting outside in the soggy PNW doesn’t bother him.
“It’s like your food,” Dambo says, gesturing to the volunteer who brought lunch for the crew. “Doesn’t last forever, but it makes people happy.”
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