![]() Two devastating hurricanes threatened that newfound prosperity at the end of the decade and the breakout of the Great Depression, but the state recovered amidst the military buildup of World War II. Still, it became more populated as it gained popularity as a vacation and retirement destination beginning in the 1920s when the state enjoyed a land boom. Until the mid-20th century, Florida was the least-populous state in the American South. After the Confederacy lost the war in 1865, it took three more years for the state's congressional delegation to be restored in Washington, D.C. Just 15 years later, Florida approved secession and joined the Confederacy in the American Civil War. That year, Spain traded Florida to the British Empire in exchange for control of Havana, Cuba.Īfter skirmishes between the British, Spanish, and the newly-formed United States that lasted the better part of a century after Florida changed hands, the territory was welcomed as the 27th state of the United States in 1845. He first gave the territory its name, La Florida, and the territory largely remained under Spanish control until 1763. The average home value in Florida is $392,700, much lower than the HECM reverse mortgage lending limit of $1,089,300.įlorida was the first region in the continental United States to receive the first European travelers and settlers, including renowned Spanish conquistador Juan Ponce de León, who arrived in what would become Florida in 1513. The Sunshine State has a population of 21.5 million, and 1,695,810 of those people are homeowners age 62 and older, which means more than one-and-a-half million people may be eligible for a reverse mortgage. is licensed by the Florida Office of Financial Regulation License/Registration #: MLD837 Many are now seeking the reverse mortgage to augment their retirement plans and not so much the mortgage of last resort.Įverything from the elimination of existing mortgage payments to the line of credit that grows makes 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 as well.Īll Reverse Mortgage, Inc. Therefore, homeowners aged 62 and above in all markets have seen that the reverse mortgage can be an excellent financial tool. 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. Only a seasoned originator can readily inform borrowers which program will best suit their needs and their positives and negatives so that the borrower can make an informed decision. 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. We are always looking for new products to offer borrowers of high-valued homes in the higher home-priced markets that the HUD HECM may not serve as well. 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. (ARLO™) originates in Florida and offers refinance loans, where borrowers already own their home and are looking to either pay off their existing loan and have no more monthly mortgage payments or can help borrowers utilize their equity for other purposes if they have no existing loan or possibly a combination of both. The HECM is HUD's acronym for their reverse mortgage loan.Īll Reverse Mortgage, Inc. ![]() (ARLO™) is approved by the Department of Housing and Urban Development (HUD) to originate, underwrite and close the HUD Home Equity Conversion Mortgage (HECM, or "Heck-um"). Purchase Reverse Mortgages Closed Last 12 MonthsĪll Reverse Mortgage, Inc. The difference is clear, and we can't wait to show you! Florida Reverse Mortgage Facts Ĭompare our competitive rates and lower costs to any competitor and realize thousands more from your home's equity! We are HUD Approved and offer a full suite of HECM & Jumbo Reverse Mortgages. Since we started in 2004, our goal has remained simple: to offer the best terms with unbeatable customer service. We are the only FL company awarded an A+ Rating by the BBB with perfect 5-Star Reviews. (ARLO™) is proud to be Florida's #1 Rated Reverse Mortgage Lender, celebrating 19 Years of excellence. Reviews Updated: The BBB is one of the last review sites that does not accept monetary influence in their ratings or posted reviews.Īll Reverse Mortgage, Inc.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |