Your Hawaii Reverse Mortgage Specialists

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Please call ☎ 888-801-2762 Ext 1 -or- complete our online questionnaire for yor quick benefits package via emai

We specialize in Hawaii Reverse Mortgages for seniors. A reverse mortgage enables Hawaii senior homeowners to sustain their retirement while living in the home and community they love. Contact us for reverse mortgage information and our no obligation reverse mortgage informational package. We provide reverse mortgages for seniors throughout Hawaii, and surrounding area. All Reverse Mortgage Company, HI.  

We often offer much Lower Rates & Fees than your local Credit Union or Bank which may amount to thousands of dollars of retained equity through the life of your Reverse Mortgage

We offer more programs than any other company including several Government Insured & Private Jumbo Programs

Our Hawaii Specialists are some of the most dedicated and talented professionals within our industry assuring you a truly no-hassle & timely close

About: Hawaii Reverse Mortgages

Hawaii is made up of hundreds of volcanic islands spread out over 1500 miles but when most people think of Hawaii, they are really thinking of the eight main islands; Nihau, Kauai, Oahu, Molokai, Lanai, Kahoolawe, Maui, and Hawaii.  Hawaii is by far the largest of all the islands and is in fact known as the “Big Island”, but the entire island chain make up the 50th state admitted to the United States in 1959. 

The tropical climate of Hawaii remains extremely enjoyable year round due to the constant trade winds blowing from the east.  And although they are not completely unheard of, Hurricanes are a rare occurrence.  The Hawaiian Islands are a popular tourist destination, but more and more people continue to move to Hawaii as a very sought after retirement location.  Although Hawaii is the largest island, Oahu is the most populated island.  As more and more people retire to this and the other island paradises and costs rise while investments shrink, Hawaiian Island residents are looking for help with their retirement plans.  

Hawaii Reverse Mortgage Limits

A reverse mortgage uses actuarial tables much the same as insurance products and borrowers receive more money the older they are.  Therefore, a 62 year old borrower just meeting the age requirement will receive much less cash than a 78 year old borrower with the same $600,000 home.  When borrowers do not take all their funds at the beginning of the loan and choose to use the line of credit option, the line of credit grows annually on the unused portion as the borrower would be eligible for a higher loan amount at the increased age.  Some borrowers have asked whether or not they should wait for a few years to apply until they are older to take advantage of higher principal limits for older borrowers. 

Only you and your trusted financial advisors know your situation but there are other factors which go into the determination of how much money you will receive on a reverse mortgage which also include interest rates and property values.  If your property value declines, you may be eligible for less money.  If the interest rates rise from their current near-historic low levels, then you may also be eligible for less money.  The other factor that changes on which we have already seen several changes this year alone is the margin.  The margin is added to the index to determine the final rate you pay and margins have risen this year as uncertainty has grown in the mortgage secondary market.  When the margin rises, your ultimate rate increases and you will receive less money. 

There is also one thing Hawaiian Residents need to consider: there is a temporary increase in the limits which is good only until December 31, 2009 unless congress votes to extend the increase.  With the passage of the Economic Stimulus Bill of 2009, the national limit for HECM loans has been temporarily increased to $625,500 which is very beneficial for Hawaiian Residents who live in an area where properties are typically a bit more expensive than on the mainland.  For those who know they want the reverse mortgage and need the higher limits, waiting may not be an option.

The only constant is your age…you do know how old you are and you do know when your next birthday is.  No one can predict the future with interest rates or property values.  If the values rise considerably, you can refinance a reverse mortgage and the HUD insurance does not need to be paid a second time…you would just pay the difference, if any, from your old premium amount to the new premium based on any increase in the principal lending limit in your area.  The Senior Specialists at All Reverse Mortgage Company are committed to helping you with answering all your questions and if the reverse mortgage is right for you, closing your loan quickly and easily.  If it’s time for you to put your equity in reverse so that you can keep your life moving forward, then we’re here to help!