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Let’s find out how a reverse mortgage can work for you. Over 500,000 homeowners nationwide - and 100 in your area are already enjoying more financial security in retirement!

Your home’s value is key to unlocking your reverse mortgage funds. I’ll use it - along with your age and current rates - to estimate what you could receive. Don’t worry, this is just a starting point!
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I used an online estimate for this value, but you’re in control - tweak it if it’s off! (A HUD-approved appraisal will confirm everything later.) Adding your mortgage balance helps me show you how much extra cash you could free up by eliminating that payment.

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If you presently have an existing mortgage balance, I'll need to know the amount we are going to pay off to get rid of that mortgage payment!
(Our calculations use estimated property values provided by Estated.com. An independent HUD-approved appraiser must complete an appraisal to finalize your loan)
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The minimum qualifying age for a reverse mortgage is 55

You qualify at 55 or older, and your age determines your loan amount. Include your spouse’s age (even if under 55) since we base proceeds on the youngest partner - it’s all about maximizing your benefits!
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Reverse Mortgage Companies in Seattle, 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 Seattle, 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.

site-Author

About the Author, Michael G. Branson

Mike@allreverse.com

Michael 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.

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. You go to the highest-rated fine dining Canlis in Seattle, WA. 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.

All Reverse Mortgage

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.

Affordability Transparency

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 Seattle, 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 Seattle, WA also offer:

  • Jumbo Reverse Mortgages
  • Proprietary Reverse Mortgages
  • Purchase Reverse Mortgages
Jumbo Reverse Mortgages

Who is Eligible for a Reverse Mortgage?

Eligible-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

You cannot be a young student going to Seattle University near Seattle, WA and expect to be approved for this type of mortgage. 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?

Homeowner-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 Seattle, 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.

Drawbacks-Reverse-Mortgage

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 Seattle, 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.

Tip-Reverse-Mortgage

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

If you've wanted to visit Smith Tower with the highest rating in Seattle, WA, but could never justify spending the money to do so, this may come as good news. 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.

Analyzing the Benefits

Need help? Our support team is here 24/7 to assist you contact us now!

The Reverse Mortgage Brokers in Seattle, 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 Seattle, WA

K-pop takes center stage: AESPA’s U.S. tour draws thousands in WA

KENT, Wash. - K-pop powerhouse group, aespa, one of the top groups in the genre, took Washington by storm last week at the ShoWare Center in Kent.On January 28, members Winter, Karina, NingNing, and Giselle of aespa took the stage in front of thousands on their first visit to Washington since their debut in 2020 for their 2025 SYNK : PARALLEL LINE tour.While ...

KENT, Wash. - K-pop powerhouse group, aespa, one of the top groups in the genre, took Washington by storm last week at the ShoWare Center in Kent.

On January 28, members Winter, Karina, NingNing, and Giselle of aespa took the stage in front of thousands on their first visit to Washington since their debut in 2020 for their 2025 SYNK : PARALLEL LINE tour.

While Seattle is a major city in the U.S., it is skipped by a lot of K-pop groups for major tours, but aespa is following groups like SEVENTEEN, ENHYPEN, NCT DREAM, and (G)I-DLE taking over the state’s high-capacity arenas.

Fans of all ages attended the first tour stop dressed in outfits based on the group’s music videos and stage outfits, and some waited for hours outside ahead of the show.

The group performed over 20 of their hit songs, including the solo songs the members have released.

One song fans were most excited to hear was the most recent viral hit, "Whiplash."

The group pushed the song back towards the end of the set list, but fans in the crowd were on their feet doing the choreography in unison with the members to the end.

"My daughter and I are big aespa fans and we were so happy they came to the Seattle area on their tour. I always enjoy seeing K-pop concerts at accesso ShoWare Center," says fan Christine Hollett.

While many local fans wished the concert could have been held at a larger venue due to high demand, having the group visit the state at all was a win-win for most.

Some were able to get tickets last minute, like Dibyendu Mondal who said, "Loved the concert…and really appreciated that they released more tickets a couple hours before the concert and me and my friend were able to buy those and avoid the insane prices on resale websites."

Christine brought along two new fans of aespa to experience the fun for the first time.

"They had the best time and really enjoyed how good the performances by aespa were, and how engaged and excited the fans were. We were happy to meet some other friends from the K-pop community there," Christine says.

As Kent was their first stop on the U.S. leg of their tour, fans across the country were waiting to see the set list posted by attendees here.

FOX 13 attended the show alongside fans from all over the Pacific Northwest.

According to the venue, the show was sold-out with approximately 5,000 in attendance.

The overwhelming turnout in Washington highlights K-pop’s growing influence in the state, with the number of groups and solo acts increasing every year, most recently with solo artists KINO and YVES, and top K-pop boy group STRAY KIDS taking over T-Mobile Park on May 24.

Related

"Before I established my own company, I was looking for a good direction for my musical journey, and then I realized that there's no company that could take more risks than me, so I decided to run my own," KINO tells FOX 13.

This tour not only cements aespa’s status as a global powerhouse but also shows the continued growth of K-pop in the Pacific Northwest as fans continue to flock to shows here.

Following their stop in Washington the group performed in Los Angeles and Mexico City.

They have nine final stops in the U.S. and Europe rounding out the tour on March 12 in Madrid before heading back to Korea to continue their journey as chart-topping idols.

MORE K-POP NEWS FROM FOX 13 SEATTLE

IVE’s global reign continues: Group growth, viral hits, and 'IVE EMPATHY'

CIX returns after a year with "THUNDER FEVER," ushering in new, bold era

J-Pop Sensation PSYCHIC FEVER to light up Seattle’s Neptune Theatre

JUST B talks 2025 rebranding, upcoming tour and irreplaceable image

To get the best local news, weather and sports in Seattle for free, sign up for the daily Fox Seattle Newsletter.

Download the free FOX LOCAL app for mobile in the Apple App Store or Google Play Store for live Seattle news, top stories, weather updates and more local and national coverage, plus 24/7 streaming coverage from across the nation.

K-PopMusic and Concerts

Japan Airlines Wing Slices into Delta Air Lines Tail at SeaTac Airport During Collision

A Japan Airlines plane collided with a Delta Air Lines flight on the tarmac at the Seattle–Tacoma International Airport on Wednesday, Feb. 5.Port of Seattle Fire, Police, and SEA operations responded to "an incident on the ramp at SEA on a taxi line between S Concourse and the south airport maintenance hangars" at approximately 10:17 a.m., the airport said in a ...

A Japan Airlines plane collided with a Delta Air Lines flight on the tarmac at the Seattle–Tacoma International Airport on Wednesday, Feb. 5.

Port of Seattle Fire, Police, and SEA operations responded to "an incident on the ramp at SEA on a taxi line between S Concourse and the south airport maintenance hangars" at approximately 10:17 a.m., the airport said in a social media update.

According to the Federal Aviation Administration (FAA), the right wing of Japan Airlines Flight 68 struck the tail of Delta Air Lines Flight 1921.

Video reviewed by PEOPLE showed a close-up of the wing of the Japan Airlines aircraft pierced into the tail of the Delta Air Lines aircraft. The plane was not traveling at high speed.

While the FAA said that both flights were taxiing at the time of the collision, the airport said that the Japan Airlines aircraft was taxiing and the Delta Air Lines aircraft was parked.

Delta Air Lines Flight 1921 was set to operate from Seattle to Puerto Vallarta with 142 passengers onboard. According to CBS News, the Japan Airlines plane had just arrived in Seattle from Tokyo.

"While in sequence for deicing, the tail of a Delta 737 aircraft reportedly made contact with a wing tip of another airline's aircraft. There are no reports of injuries for crew or customers on the flight, and we apologize for the experience and delay in travels," Delta Air Lines explained in a statement shared with PEOPLE.

According to the FAA, the aircraft were in an area not under air traffic control at the time of the incident.

The FAA temporarily paused some flights to the airport afterward. The airport said there was "minimal impact" to airport operations as this occurred on a taxi lane.

In an update later on Wednesday, Seattle–Tacoma International Airport said that passengers on both aircraft deplaned with no reported injuries.

"Airlines are working to accommodate passengers as needed. Airport response crews will be moving the aircraft off of the ramp taxiway," the update added.

PEOPLE has reached out to Japan Airlines for comment.

Never miss a story — sign up for PEOPLE's free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer​​, from celebrity news to compelling human interest stories.

The incident, which will continue to be investigated by the FAA, comes days after a Philadelphia plane crash left seven people dead, and a midair crash between an American Airlines flight and a U.S. Army Black Hawk helicopter over Washington, D.C left 67 people dead.

Seattle to see frigid temps, icy roads for Friday morning commute

Seattle weather: Snow continues Monday morning, afternoon sunshine and thawingWe should dry out by the second half of the morning commute, with sunshine on tap for the second half of the day. Temperatures will warm again to the mid 30s, which should help melt any snow or ice on the main roads by midday.The BriefDrier and sunnier conditions return to western Washington on Thursday afternoon, but frigid temperatures overnight could ...

Seattle weather: Snow continues Monday morning, afternoon sunshine and thawing

We should dry out by the second half of the morning commute, with sunshine on tap for the second half of the day. Temperatures will warm again to the mid 30s, which should help melt any snow or ice on the main roads by midday.

The Brief

Drier and sunnier conditions return to western Washington on Thursday afternoon, but frigid temperatures overnight could complicate the Friday morning commute.

Overnight snow brought several inches of accumulation to central Puget Sound areas. The south Puget Sound was completely left out.

Here is a look at some of the 24-hour snow totals.

Dry and sunny in Seattle

By the numbers:

The area will get back to sunny skies on Thursday afternoon, which will promote melting and better road conditions on most of the main roads. Highs will be in the mid to upper 30s.

Clear skies Thursday evening will send temps plummeting into the low to mid 20s by early Friday morning. Anything that has not evaporated on the roads could freeze over, leading to a very slippery morning commute.

(FOX 13 Seattle)

More snow in Seattle on Friday night

What's next:

The chance for more lowland snow will pick up again from Friday night into Saturday morning as a low pressure system moves inland south of the area. Amounts will be lighter than Thursday morning’s event, but stay tuned to the forecast as we get closer.

This weekend will bring a slight chance for showers at times, but it looks more dry than wet.

We will remain very cool through the middle of next week with highs in the 30s and lows in the 20s.

(FOX 13 Seattle)

The Source: Information comes from weather models analyzed by FOX 13 Seattle Chief Meteorologist Brian MacMillan.

Seattle principal arrested for DUI and domestic violence after car flips

Japan Airlines plane impales tail of Delta plane at Sea-Tac Airport

More than 1K rally outside Olympia Capitol in '50 states, 50 protests' demonstration

Washington Senate passes changes to parental rights in education

Winter weather suspends garbage collection in Seattle, Bellevue

The BriefSEATTLE - Snow and icy road conditions on Thursday forced the suspension of residential garbage, recycling and food/yard waste pickup across Seattle and parts of Bellevue.Keep reading to find out if your garbage service is impacted and when collection will resume.Seattle garbage service suspendedService Suspended:Seattl...

The Brief

SEATTLE - Snow and icy road conditions on Thursday forced the suspension of residential garbage, recycling and food/yard waste pickup across Seattle and parts of Bellevue.

Keep reading to find out if your garbage service is impacted and when collection will resume.

Seattle garbage service suspended

Service Suspended:

Seattle Public Utilities announced that no residential collections will take place Thursday due to hazardous road conditions.

Residents with scheduled pickups should bring their carts inside and can set out double the usual amount of waste on their next collection day at no extra charge.

SPU’s North and South transfer stations are open at 10 a.m. Thursday. For the latest updates, residents are encouraged to check the At Your Service blog and follow SPU on X @SeattleSPU.

Bellevue garbage service impacted

What they're saying:

Republic Services, which provides waste collection in Bellevue, confirmed that service is suspended for Northeast Bellevue, Crossroads and Lake Hills on Thursday.

Impacted residents will receive direct notifications and will also be able to put out double the usual amount of waste on their next scheduled pickup day.

Snowfall impacts roads, flights, schools

Snowfall across western Washington Thursday morning created difficult travel conditions.

Several school districts announced closures and delays, flights at Sea-Tac Airport were canceled and thousands lost power. The Seattle Department of Transportation continues to plow and de-ice major roads, but steep and residential streets remain hazardous.

MORE NEWS FROM FOX 13 SEATTLE

Seattle principal arrested for DUI and domestic violence after car flips

Japan Airlines plane impales tail of Delta plane at Sea-Tac Airport

More than 1K rally outside Olympia Capitol in '50 states, 50 protests' demonstration

Washington Senate passes changes to parental rights in education

To get the best local news, weather and sports in Seattle for free, sign up for the daily Fox Seattle Newsletter.

Download the free FOX LOCAL app for mobile in the Apple App Store or Google Play Store for live Seattle news, top stories, weather updates and more local and national coverage, plus 24/7 streaming coverage from across the nation.

Disclaimer:

This website publishes news articles that contain copyrighted material whose use has not been specifically authorized by the copyright owner. The non-commercial use of these news articles for the purposes of local news reporting constitutes "Fair Use" of the copyrighted materials as provided for in Section 107 of the US Copyright Law.
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