Where does All Reverse do business?
All Reverse is based in Orange, CA. The company was founded in 2004 and offers reverse mortages in 16 states in the USA.
What types of reverse mortgages does All Reverse offer?
All Reverse allows borrowers to apply for the following types of reverse mortgage.
Lump sum. The borrower can access the entire amount immediately. However, you will need to pay interest on the entire amount regardless of whether you spend it.
A line of credit. This is a more flexible option that allows borrowers to only borrow (and pay interest) on the amount they withdraw from their line of credit. In the case of reverse mortgages, the amount of cash available in your line of credit increases as time goes by.
Monthly disbursement. With this option, you get a monthly allowance. This is a good option if you need an additional source of income to cover your living expenses. It can be used in combination with a line of credit for additional flexibility.
How much can you borrow with a reverse mortgage?
Reverse mortgages are a type of mortgage that makes it possible for older homeowners to borrow money by using the value of their home as security.
The maximum loan amount with this lender is $636,150. Note that the maximum loan amount you can borrow will vary depending on the value of the property, your age, how much you owe on it, and your creditworthiness.
What is the estimated funding time for a home loan via All Reverse?
All Reverse will typically provide a credit approval decision in less than an hour and fund the loan within 30 and 60 days.
What fees does All Reverse charge for a reverse mortgage?
Good news. All Reverse does not charge a mortgage origination fee. Some lenders charge an origination fee for processing, underwriting, and funding a mortgage. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
What types of property can you use as security for a reverse mortgage with All Reverse?
Lenders often have restrictions on the type of properties they will accept as security for a reverse mortgage. All Reverse will consider lines of credit secured by the following property types:
- Primary home
2019 W Chapman Ave
Orange, CA 92868 USA
- Visit Site
- North Carolina
- South Carolina
|No Origination Fee|
|Origination Fee ($)||$0|
|Immigration Status Considered||
|Joint Loan Applications Accepted||
|Funding Time Range (in days)||30 - 60|
|Reverse Mortgage Payment Options||
|Reverse Mortgage Options||
|Loan Amount||$10K - $636.15K|