Top Reverse Mortgage Lenders in Oregon

The reverse mortgage, the most common of which is the home equity conversion mortgage (HECM), is an option for seniors in Oregon who have built up substantial home equity. These loans are relatively easy to obtain compared to more conventional forward mortgages.

Want to learn more? Click here to get free information about a reverse mortgage!

The most important qualifications are:

  • you are 62 or older
  • you have built up substantial equity
  • you are using your home as your primary residence

As part of the HECM program, Oregon borrowers are required to take part in counseling. This counseling ensures that the senior understands the loan and has compared it to other options available to him or her.

Homeowners must also be aware that they are still responsible for basic maintenance on the home and must continue to pay taxes, insurance, and Home Owner’s Association (HOA) fees if applicable. Borrowers now undergo a financial assessment to ensure that they can continue to meet these obligations.

The property remains in the homeowner’s possession until they die, no longer use the home as their primary residence or they sell the property. When one of these situations occurs, the loans become due to the lender. In cases of death or the homeowner’s transfer to an assisted living situation, the lender will initiate the sale of the home in order to recompense their investment. They retain the amount of the value of the home, with any additional funds going to the estate.

Want to learn more? Click here to get free information about a reverse mortgage!

To get a feel for what you may be eligible to receive, you may use our calculator, which is located here. It does not account for everything, particularly because rates and fees vary based on your lender and your location, among other things. However, the calculator does not require personal information and can be used to give you a quick idea of whether it makes sense to continue your research.

To help you better understand the marketplace, we’ve compiled data on the top lenders in Oregon, both of all time and from 2012 to the present. Why make this distinction? In 2012, large banks such as Wells Fargo and Bank of America stopped originating HECM loans. You will see their names in the list of largest lenders of all time, but you cannot get a reverse mortgage from either one today.

All Time

Lender Loans Total Principal Limit
WELLS FARGO 3095 674624697
SEATTLE MORTGAGE COMPANY 1390 251258794
FINANCIAL FREEDOM SENIOR FUNDING CORP 829 167418853
AMERICAN ADVISORS GROUP 771 197681117
LANDMARK MORTGAGE COMPANY 590 121742287
BANK OF AMERICA 561 157764257
STAY IN HOME MORTGAGE INC 490 112121320
GENWORTH FINANCIAL HM EQUITY ACCESS INC 448 111166666
ONE REVERSE MORTGAGE LLC 436 108399890
COLUMBIA RIVER BANKING COMPANY 389 79747452
PACIFIC RESIDENTIAL MORTGAGE LLC 314 90277389
EQUIPOINT FINANCIAL NETWORK INC 290 72126670
GOLF SAVINGS BANK 287 72988820
FINANCE OF AMERICA REVERSE LLC 276 77112260
UNITY MORTGAGE CORP 275 31790425
GOLDEN MORTGAGE LLC 242 57351997
BANK OF THE CASCADES 241 59911760
AMERICAN PACIFIC MORTGAGE 234 65125419
SECURITY ONE LENDING 225 52568030
METLIFE BANK NATIONAL ASSOCIATION 224 59087925

Since 2012:

Lender Loans Total Principal Limit
AMERICAN ADVISORS GROUP 554 146214859
PACIFIC RESIDENTIAL MORTGAGE LLC 212 63212889
ONE REVERSE MORTGAGE LLC 203 54351630
LIBERTY HOME EQUITY SOLUTIONS INC 181 47493349
HIGH TECH LENDING INC 123 38562500
FINANCE OF AMERICA REVERSE LLC 105 32547700
REVERSE MORTGAGE SOLUTIONS INC 102 26031100
GREENLEAF FINANCIAL LLC 80 24004300
STERLING SAVINGS BANK 79 21072049
IREVERSE HOME LOANS LLC 79 24093600

Oregon Reverse Mortgage Rates

We’ve compiled average monthly rates based on US Department of Housing and Urban Development data for HECM loans originated in Oregon:

Date Fixed Rate Adjustable Rate
01/01/14 5.01% 2.45%
02/01/14 4.93% 2.49%
03/01/14 5.01% 2.60%
04/01/14 4.97% 2.34%
05/01/14 5.00% 2.45%
06/01/14 4.96% 2.40%
07/01/14 5.02% 2.51%
08/01/14 4.89% 2.45%
09/01/14 4.95% 2.61%
10/01/14 5.03% 2.67%
11/01/14 5.05% 2.60%
12/01/14 5.02% 2.89%
01/01/15 4.96% 2.60%
02/01/15 4.91% 2.78%
03/01/15 4.95% 2.74%
04/01/15 4.86% 3.04%
05/01/15 4.85% 2.78%
06/01/15 4.79% 2.83%
07/01/15 4.88% 3.12%
08/01/15 4.95% 3.02%
09/01/15 4.93% 3.17%
10/01/15 4.92% 3.02%
11/01/15 4.77% 3.15%
12/01/15 4.93% 3.31%
01/01/16 4.98% 3.42%
02/01/16 4.97% 3.63%
03/01/16 4.95% 3.82%
04/01/16 4.93% 3.96%
05/01/16 5.06% 4.01%
06/01/16 4.84% 4.12%
07/01/16 4.93% 4.10%
08/01/16 4.99% 4.25%
09/01/16 4.96% 4.42%
10/01/16 5.04% 4.51%
11/01/16 4.93% 4.53%
12/01/16 5.06% 4.65%
01/01/17 4.97% 4.70%
02/01/17 5.00% 4.81%

HUD Offices

Portland Field Office

U.S. Department of Housing and Urban Development
Oregon State Office
Edith Green-Wendell Wyatt Federal Office Building
1220 SW 3rd Avenue, Suite 400
Portland, OR 97204-2825

Phone: (971) 222-2600
Email: Customer Service
Fax: (971) 222-0357
Federal Information Relay Service: (800) 877-8339

HECM Counselors

CCCS OF SOUTHERN OREGON
820 CRATER LAKE AVE SUTE 202
MEDFORD, OR 97504-6581
(541) 779-2273
http://www.cccsso.org

HACIENDA COMMUNITY DEVELOPMENT CORPORATION
6700 N.E.KILLINGSWORTH
PORTLAND, OR 97218-3318
(503) 961-6432
http://www.haciendacdc.org

MONEY MANAGMENT INTERNATIONAL EUGENE
355 GOODPASTURE ISLAND RD., SUITE 104, O
EUGENE, OR 97401-2119
(866) 232-9080
http://www.moneymanagement.org

NEIGHBORIMPACT
2303 SW 1ST ST
REDMOND, OR 97756-7133
(541) 318-7506
http://www.neighborimpact.org

NEIGHBORWORKS UMPQUA
605 SE KANE ST
ROSEBURG, OR 97470-4906
(541) 673-4909

NeighborWorks Umpqua

OPEN DOOR COUNSELING CENTER
34420 SW TUALATIN VALLEY HWY
HILLSBORO, OR 97123-5470
(503) 640-6689
http://www.opendoorcc.net