Compare Wisconsin's Best Reverse Mortgages
Top 10 Reverse Mortgage Lenders in Wisconsin
|Lender Name||Years in Business||Rating||Stars (0-5.0)||Positive Reviews||Complaints||BBB Reviews|
|All Reverse Mortgage, Inc. (ARLO)||15||A+||4.9||99%||1||Source|
|American Advisors Group (AAG)||14||A-||4.1||82%||53||Source|
|Longbridge Financial, LLC||6||A+||3.5||70%||2||Source|
|Reverse Mortgage Funding LLC||6||A+||3.0||50%||8||Source|
|One Reverse Mortgage, LLC (QUICKEN)
|Liberty Home Equity Solutions, Inc. (OCWEN)||15||A+||2.1||42%||2||Source|
|Retirement Funding Solutions (RFS)||9||A+||(N/A)||(N/A)||1||Source|
|Fairway Independent Mortgage||23||A+||2.1||42%||21||Source|
|HighTech Lending Inc.||13||A-||2.0||60%||2||Source|
|Finance of America Reverse LLC (FAR)||15||A+||1.0||20%||2||Source|
We are proud to be Wisconsin's #1 rated reverse mortgage lender by the BBB with a Perfect 5.0 stars and A+ review. All Reverse Mortgage® lends in 16 states nationwide, and throughout all of Wisconsin state.
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.
Wisconsin homeowners seeking reverse mortgages come to us because of our brilliant staff members, whose combined lending experience exceeds 100 years. We have national mortgage banking experience on both coasts and many points between. Due to this direct experience, All Reverse Mortgage® is well positioned to assist borrowers with their specific needs associated with reverse mortgage programs.
Wisconsin Reverse Mortgage Facts
|State||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Wisconsin||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 the reverse mortgage program it administers for seniors who are 62 and older.
All Reverse Mortgage® originates in Wisconsin 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 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. We are always looking for new products to offer to borrowers with high valued homes in strong real estate markets where the HUD HECM might not serve well. Jumbo or proprietary programs typically offer lower Principal Limits as they relate to home values but can offer stronger borrowing power because they are not restricted by the federal loan limit set by HUD.
A seasoned originator can readily inform borrowers about their loan options, and can provide detail on the different options available, so that the borrower can make an informed decision. It is no longer uncommon to find markets where HECMs are most popular located near markets where jumbo reverse mortgages are more widely used.
Homeowners aged 62 and older in many markets have seen that the reverse mortgage can be a very solid financial tool, leading to many now seeking the reverse mortgage to augment their retirement plans rather than the last-resort approach more common in the past. Borrowers are using reverse mortgages for many purposes, from the elimination of existing mortgage payments to the line of credit that grows over time, offering more borrowing opportunities in the future.
Reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably and age-in-place, but to plan for their financial future as well.
Wisconsin Lending Limits
Wisconsin is the 20th most populous state in the United States and is the 23rd largest in terms of land size. As of 2017, about 5,795,483 people resided in the state, with the densest populations around Milwaukee and Madison. About 956,254 residents in the state are age 65 and older, and about 68% of people in the state are homeowners.
First inhabited by Paleo-Indians, the land that is now Wisconsin was inhabited by various native tribes when the French and English began exploring and settling the area. Wisconsin became the 30th state in 1848 and was the destination of many immigrants — especially Scandinavians — who came to America in the second half of the nineteenth century. After wheat was found to have depleted the many nutrients in the local soil, farmers turned to dairy cows, making Wisconsin the dairy capital that it is today.
Milwaukee is the largest city in the state with more than 600,000 residents. Originally founded as a trading post, the city has a rich beer brewing history as German immigrants opened Miller, Schlitz and Pabst breweries in the mid-1800s. By 1860, Wisconsin had more than 200 breweries and 40 of them were in Milwaukee. Along with beer, the state is the birthplace of actors Gene Wilder and Chris Farley, architect Frank Lloyd Wright, and anchorwoman Greta Van Susteren.
After Milwaukee, the largest cities are Madison, Green Bay and Kenosha. The biggest industries in the state are agriculture, manufacturing, and mining. Wisconsin has nine companies on the Fortune 500 list, including Northwestern Mutual Life Insurance Co., ManpowerGroup, and Kohl’s Corp.
Wisconsin has a mostly continental climate with some variations along Lake Michigan. In its northern location, the state has four seasons with warm summers and cold, snowy winters. Most northern areas are covered with snow the entire winter, and floods in the spring can result from the melting snow. The average high in July is 80 degrees Fahrenheit and the average low in January is 16 degrees Fahrenheit.
The average home value in the state is $181,800 and prices are expected to rise an additional 3.2% in the next year. Given this average, many homes fall below the federal maximum reverse mortgage lending limit of $765,600 that applies to all HECM loans. For more borrowing power above the federal limit, there are jumbo reverse mortgage programs available.
If you reside in Wisconsin, All Reverse Mortgage is here to answer your questions.
Wisconsin Approved Reverse Mortgage Counseling Agencies
|Agency Name||Phone||Agency ID||Address||Languages||Website|
|NEIGHBORWORKS BLACKHAWK REGION - NHS OF BELOIT, INC.||608-362-905||80927||520 W Grand Ave|
Beloit, Wisconsin 53511-5311
|NEIGHBORWORKS GREEN BAY||920-448-3075||80929||437 S Jackson St|
Green Bay, Wisconsin 54301-3909
|HOUSING RESOURCES, INCORPORATED||414-461-6330||81166||7830 W Burleigh St|
Milwaukee, Wisconsin 53222-4915
|NEIGHBORHOOD HOUSING SERVICES OF SW WISCONSIN||608-647-4949||80633||125 E Seminary St|
Richland Center, Wisconsin 53581-2354
Did you know? Wisconsin state does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies and conduct your required counseling from the comfort of your home.
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently brought exclusive offers to our valued Wisconsin homeowners. Because of our unique process we're able to offer a better federally-insured reverse mortgage with no compromise.
Take a look at some of our program benefits that you won't find elsewhere:
|Exclusive 3.68% (5.25% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 2.98% with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Plans|
|ZERO Financed Closing Cost Plans|
|ZERO Monthly Servicing Fees on ALL programs|
How can we offer you more favorable terms?We are a direct lender approved by FHA (Federal Housing Administration) The HECM is literally all we do. All Reverse Mortgage is not just a name for us. We have a very low (almost non-existent) staff turnover and our people are experts. We don't work with Brokers, allowing us to pass the savings on to you. We don't hire "celebrity" spokespersons as we don't believe you should have to pay for a lender's expensive marketing budget with higher loan costs. We Charge Less! Check out our competition and our customer ratings. We never forget that this loan is about you and your needs and we put you first with superior service and lower costs.
All Reverse vs. the others
HUD approved direct lender.
Working with a local Wisconsin lender saves you time and money.
As an award-winning direct lender our goal remains simple; to offer you the very best terms accompanied by extraordinary customer service.
What Our Customers Are Saying
|"There was no car salesman type of protracted negotiation. All reverse got right down to a good quote without a series of incremental steps."|
|"I was surprised how easy it was to deal with an out of state company. Actually it was much easier than my previous dealings with local banks and brokers"|
|"It is a wonderful feeling to have no mortgage and extra cash in our pocket. We are very happy."|
|"Thank you to All Reverse for handling everything in an efficient and smooth way. Thoroughly appreciate everything you have done to make things easy for me."|
|"This was the smoothest mortgage process I have ever experienced! And so fast!"|