Atlanta Reverse Mortgage Information and Facts

1. Census Data Relevant to the Atlanta Reverse Mortgage Market. It is helpful to understand the demographic make-up of Atlanta's reverse mortgage eligible population. The following information comes from the US Census Bureau's 2005 American Community Survey. Rankings are based on 359 metropolitan statistical areas (MSA's) and are in descending order with higher rankings indicating relatively older populations.

2. Atlanta's Home Value Growth. Home price increases are an important factor in the reverse mortgage decision. The information below comes from the quarterly Housing Price Index (HPI) published by the Office of Federal Housing Enterprise Oversight (OFHEO). These figures indicate the average percentage gain in value for homes in Atlanta for the most recent 1-year and 5-year periods and, also, how the HPI rankings for Atlanta compare to other areas. Rankings shown are for 287 Metropolitan Statistical Areas (MSA's) ranked in descending order with faster growing areas ranking higher relative to slower growth areas. Figures are updated quarterly (most recent update made 2/28/08 reporting 4th Quarter 2007 results).

Senior homeowners in areas with strong home price appreciation and substantial accumulated home equity are more apt to consider a reverse mortgage as a supplemental source of retirement income.

3. HECM Loan Limits for Atlanta. The federally-insured Home Equity Conversion Mortgage (HECM) program has limits on the size of loan that can be insured. These are known as "203b limits" and are set by HUD for each county in each state. Click on the link below for a list of current HECM Limits for each Atlanta county.

State	County	HECM Limit	Last Revised
GEORGIA	ROCKDALE	252,890	20060517
GEORGIA	WALTON	252,890	20060517
GEORGIA	BUTTS	252,890	20060517
GEORGIA	FULTON	252,890	20060517
GEORGIA	CHEROKEE	252,890	20060517
GEORGIA	DAWSON	252,890	20060517
GEORGIA	PAULDING	252,890	20060517
GEORGIA	HEARD	252,890	20060517
GEORGIA	FAYETTE	252,890	20060517
GEORGIA	PICKENS	252,890	20060517
GEORGIA	LAMAR	252,890	20060517
GEORGIA	DOUGLAS	252,890	20060517
GEORGIA	PIKE	252,890	20060517
GEORGIA	SPALDING	252,890	20060517
GEORGIA	CARROLL	252,890	20060517
GEORGIA	CLAYTON	252,890	20060517
GEORGIA	JASPER	252,890	20060517
GEORGIA	BARTOW	252,890	20060517
GEORGIA	BARROW	252,890	20060517
GEORGIA	HARALSON	252,890	20060517
GEORGIA	HENRY	252,890	20060517
GEORGIA	COBB	252,890	20060517
GEORGIA	GWINNETT	252,890	20060517
GEORGIA	DEKALB	252,890	20060517
GEORGIA	FORSYTH	252,890	20060517
GEORGIA	NEWTON	252,890	20060517
GEORGIA	MERIWETHER	252,890	20060517
GEORGIA	COWETA	252,890	20060517

4. Reverse Mortgage Loan Activity in Atlanta. Since September 2001, a total of 4,921 HECM reverse mortgages have been originated by the Atlanta HUD Office. Atlanta reverse mortgage endorsements represent 1.4% of the total 361,591 reverse mortgages originated throughout the United States during the same period.

Over the past few years, the volume of reverse mortgage originations has grown in Atlanta as well as the rest of the country. Following are HECM reverse mortgage statisitics for the period from September 2001 up to the current month (Nov-2008). The first chart shows the distribution of HECM loan originations by Atlanta HUD Office region and the second chart shows year-to-year HECM loan growth. Further information on HECM loan activity can be found using the HECM Data Tool.

5. Atlanta Reverse Mortgage Lenders. So, who are Atlanta's top reverse mortgage lenders? Following is a table showing Atlanta's top 10 originators of HUD HECM loans thus far for calendar year 2008:

The table below provides a longer term view of Atlanta's top 10 lenders looking at the period from September 2001 up to the current month (Nov-2008). For a complete listing of Atlanta reverse mortgage lenders, use this reverse mortgage lender directory .