Waxhaw Reverse Mortgage Lenders

All Reverse Mortgage® is a reverse mortgage company that lends throughout the state of North Carolina, including Waxhaw. 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 Waxhaw 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.

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 Waxhaw and offers several reverse mortgage options: in some instances borrowers are looking to pay off their existing loan and eliminate their monthly mortgage payment; or if they already have paid off their mortgage, a reverse loan can help borrowers utilize their equity for other purposes. In some cases, borrowers can do both. They also may use a specific type of reverse mortgage to purchase a new home.

About All Reverse Mortgage®

The owners and management of All Reverse Mortgage® 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 well. Jumbo or proprietary programs typically offer much lower Principal Limits as they relate to values, 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.

Waxhaw Lending Limits

Waxhaw, North Carolina, is a town of about 10,000 residents in Union County, North Carolina. It’s about 30 miles south of Charlotte, North Carolina. Of the population total, about 11.5 percent are senior homeowners 62 years or older.

Modern Waxhaw can be traced back to roughly 1711. Since then, it’s established itself an area with many fine dining options and antique stores, which provides residents with many options for amenities. Additionally, with Charlotte being relatively close, Waxhaw residents can always take a trip into the city for even more fun.

Waxhaw’s economy consists of jobs in professional and scientific services, finance, retail trade and health care.

The median home value in Waxhaw is $207,100 which is an increase of 10.7 percent in the last 12 months. Over the next year, home prices are projected to increase 3.8 percent. While some of the homes in Waxhaw are valued below the federal maximum reverse mortgage lending limit of $822,375 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 Waxhaw or are planning to move there, All Reverse Mortgage is here to answer your questions.