Westminster's #1 Reverse Mortgage
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All Reverse Mortgage, Inc. (ARLO™) is proud to be Colorado's #1 Rated Reverse Mortgage Lender by the BBB with a Perfect 5.0 Stars and A+ Exemplary Rating. We currently lend in 16 states and our headquartered in Southern California.
All Reverse Mortgage was incorporated in CA November 2004 and as the name implies, the only loan product that All Reverse Mortgage, Inc. (ARLO™) originates is in fact, the reverse mortgage.
We’re committed to be your lender because you deserve the best rate at the lowest price possible.
We’re a HUD Approved direct lender lending the national HECM programs and offer a suit of Non-FHA & Jumbo Reverse Mortgages to better suit homeowners in SoCal with higher value homes over the national 2024 lending limit of $1,149,825.
We welcome you to compare our reviews and our lower rates and closing costs to any other major lender! The difference is clear, and we can’t wait to show you!
Westminster Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Westminster (est)||Avg. Home Value|
HUD Approved Direct Lender
All Reverse Mortgage, Inc. (ARLO™) 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, Inc. (ARLO™) originates in Westminster 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 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 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.
Discovery of gold in the area that would become Westminster, Colorado brought significant attention and traffic to the area in the late 1850’s. With the head-turning attention of the gold discovery combined with the Homestead Act of 1862, scores of people would flock to western territories, including the area that would become Westminster.
The Homestead Act provided that any adult citizen who had never taken up arms against the United States government could claim 160 acres of surveyed government land with a minimal filing fee. The law was passed with the signature of President Abraham Lincoln, sailing through Congress with relative ease after the bill’s primary opposition largely seceded from the Union in the lead-up to the American Civil War.
While some settlers from the east continued their journey toward California, the favorable conditions provided by the gold discovery and the passage of the Homestead Act saw many others settle in Colorado. The first settler arrived in modern-day Westminster in 1870, and consolidation of other properties by a real estate developer in 1885 saw the foundations for a larger community begin to take shape. A university ultimately called "Westminster University" was built in the 1890’s that was ultimately converted into a church in the early 20th century after the majority of its students left to fight in World War I.
In May of 1911, the town adopted the name of the university, Westminster, and was incorporated as a city in the state of Colorado.
In the modern day, Westminster is a moderately-sized city with an estimated 2018 population of approximately 114,000 people. Six different highways serve the city, connecting it to the broader Denver metropolitan area. There are also plans in motion to create a commuter rail system further connecting it to Denver and other surrounding communities. The two biggest employers in the area are the Ball Corporation – the Broomfield, CO-based business primarily known for home canning and bottling products – and Alliance Data Systems – a provider of customer loyalty programs and marketing services. Both companies have over 1,000 employees each in the Westminster area.
Westminster is primarily known to tourists as a great place to engage in outdoor activities, owing to its parks trails that take advantage of its wide open spaces. Westminster is home to the very interesting Butterfly Pavilion and Insect Center, featuring a large number of free-flying butterflies that include species from as far away as Australia. Big Dry Creek Trail and Standley Lake Regional Park each provide a great amount of scenery to take in for hiking, walking or running, and Westminster Center Park is a city establishment with an amphitheater that plays host to all kinds of events throughout the year.
The 130-foot Bell Tower of Westminster helps to forge a kinship between this American Westminster and the Westminster found in the United Kingdom, and the surrounding area has become the primary landmark for the community and even features an English oak that comes all the way from "the other Westminster". It’s not uncommon to see much of the city’s branding centered on the visual of the Bell Tower, and much of the city derives much of its identity from that iconography.
Westminster generally features a more comfortable climate when compared with the majority of surrounding Colorado, with a summer high that averages around 90 degrees fahrenheit in the month of July and a winter low that can typically get down to an average of about 18 degrees in the month of January. In terms of precipitation, snow is generally much more common than rain, as the average yearly rainfall in Westminster comes to only 17 inches, while annual snowfall accumulates to an average of 64 inches a year.
Still, there are an average of 242 days of sun in Westminster every year, which beats out the national average for the United States by 37 days.
9 percent of Westminster’s population is made up of seniors that are at least 65 years old, based on U.S. Census Bureau data. Of Westminster’s senior population, 74 percent (accounting for nearly 5,000 households) are also homeowners as opposed to renters. That means there’s a dedicated community of seniors that call Westminster their long-term home.
Thousands of the senior households in Westminster may be eligible to obtain a reverse mortgage. Several of these older homeowners have already done their research and begun using reverse mortgages to support their retirement needs.
Compared with the average home price in Colorado, Westminster’s median home price is less than the rest of the state at $563,764, according to the Zillow Home Value Index as of January 2023. Prices in the area have increased 8.2% over the past year.
Some homes in Westminster may be worth more than this median value. If your home has been appraised for more than the HUD lending limit of $1,149,825, you may still be able to tap into your home equity with the help of a reverse mortgage.
If you're a homeowner who fits this description and you're interested in using a reverse mortgage to supplement your retirement, you might want to consider a jumbo reverse mortgage, from which you may be able to access a greater portion of your home equity than you otherwise would with a FHA-insured HECM loan.
Reverse mortgages might not be the perfect solution for every homeowner, but depending on your particular situation, a HECM could be something to consider as you approach your retirement years.
If you reside in Westminster All Reverse Mortgage, Inc. (ARLO™) is here to answer your questions.
Additional Oregon Lender Resource Links:
Reversemortgage.org NRMLA Members in CO: https://www.reversemortgage.org/Find-a-Lender/state/CO
HUD.GOV Approved Lenders in Oregon for HECM Loan