Reverse Mortgages in Arizona

Arizona is a popular retirement destination, and many Arizona homeowners are exploring reverse mortgages as part of their retirement planning. With relatively affordable home values compared to coastal states and a large retiree population, reverse mortgages serve an important role in Arizona’s housing landscape.

Arizona Property Tax Considerations

• Senior Valuation Protection: Arizona provides property tax assistance to seniors through programs like the Senior Property Valuation Protection Program, which can limit property tax increases.
• Low Property Taxes: Arizona generally has lower property taxes than the national average, which means lower ongoing obligations for reverse mortgage borrowers.
• Homestead Exemption: Arizona has a homestead exemption of $250,000 for primary residences, which protects equity in the event of bankruptcy.

What Arizona Families Should Know

• Arizona’s warm climate makes it a popular destination for aging-in-place strategies
• Lower property taxes reduce the ongoing compliance burden for reverse mortgage borrowers
• Many Arizona seniors have children in neighboring California who are involved in financial decisions