Arizona Reverse Mortgage Information and Facts

1. Census Data Relevant to the Arizona Reverse Mortgage Market. It is helpful to understand the demographic make-up of Arizona's reverse mortgage eligible population. The following information comes from the US Census Bureau's 2005 American Community Survey.

The Census Bureau projects the senior citizen population in Arizona will change as follows in the years ahead:

2. Arizona'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 Arizona for the most recent 1-year and 5-year periods and, also, how the HPI rankings for Arizona compare to other states. Clearly, 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. Figures are updated quarterly (most recent update made 2/28/08 reporting 4th Quarter 2007 results).

3. Section HECM Loan Limits for Arizona. 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 203b Limits for each Arizona county.

County	HECM Limit	Last Revised
YAVAPAI	295,830	20080101
NAVAJO	233,840	20080101
YUMA	200,160	20080305
LA PAZ	200,160	20080305
APACHE	213,750	20080101
SANTA CRUZ	200,160	20080305
GILA	247,000	20070618
GRAHAM	200,160	20080305
COCONINO	342,000	20070323
PINAL	263,150	20070101
GREENLEE	200,160	20080305
MARICOPA	263,150	20070101
MOHAVE	244,600	20041025
PIMA	239,850	20060309
COCHISE	200,160	20080305

4. Reverse Mortgage Loan Activity in Arizona. Since September 2001, a total of 11,617 HECM reverse mortgages have been endorsed by HUD Offices located in Arizona. Arizona reverse mortgage endorsements represent 3.2% of the total 361,591 reverse mortgages originated throughout the United States during this timespan.

Over the past few years, the volume of reverse mortgage originations has grown in Arizona 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 Arizona 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. Arizona Reverse Mortgage Lenders. So, who are Arizona's top reverse mortgage lenders? The following table shows Arizona's top 25 originators of HUD HECM loans thus far for calendar year 2008:

The table below provides a longer term view of Arizona's top 25 lenders looking at the period from September 2001 up to the current month (Nov-2008). For a complete listing of Arizona reverse mortgage lenders, use this Arizona reverse mortgage lender directory.

ATTENTION REVERSE MORTGAGE LENDERS - if you are listed above as one of Arizona's top reverse mortgage lenders, you should consider turning your listing into a clickable hyperlink that will take visitors directly to your company's website. Your "live" link will appear for every state that you rank in the top 25 lenders. Reverse-Mortgage-Information.org is one of the leading sites on the web for seniors seeking independent information about reverse mortgages. For more information, contact us .