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 | 3,095 | 674,624,697 |
| AMERICAN ADVISORS GROUP | 2,591 | 929,537,242 |
| SEATTLE MORTGAGE COMPANY | 1,390 | 251,258,794 |
| FINANCIAL FREEDOM SENIOR FUNDING CORP | 829 | 167,418,853 |
| FINANCE OF AMERICA REVERSE LLC | 636 | 241,192,233 |
| REVERSE MORTGAGE FUNDING LLC | 613 | 265,092,649 |
| ONE REVERSE MORTGAGE LLC | 596 | 166,793,940 |
| LANDMARK MORTGAGE COMPANY | 590 | 121,742,287 |
| BANK OF AMERICA | 561 | 157,764,257 |
| PACIFIC RESIDENTIAL MORTGAGE LLC | 524 | 171,606,729 |
| STAY IN HOME MORTGAGE INC | 490 | 112,121,320 |
| GENWORTH FINANCIAL HM EQUITY ACCESS INC | 448 | 111,166,666 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 437 | 196,661,667 |
| DIRECTORS MORTGAGE INC | 407 | 162,598,375 |
| MUTUAL OF OMAHA MORTGAGE INC. | 395 | 200,961,188 |
| COLUMBIA RIVER BANKING COMPANY | 389 | 79,747,452 |
| NORTHWEST REVERSE MORTGAGE | 349 | 169,860,831 |
| FINANCE OF AMERICA MORTGAGE LLC | 340 | 154,787,606 |
| SOUTH RIVER MORTGAGE LLC | 306 | 126,437,075 |
| AMERICAN PACIFIC MORTGAGE | 304 | 94,499,869 |
Since 2012
| Lender | Loans | Total Principal Limit |
| AMERICAN ADVISORS GROUP | 2,374 | 878,070,984 |
| REVERSE MORTGAGE FUNDING LLC | 613 | 265,092,649 |
| FINANCE OF AMERICA REVERSE LLC | 465 | 196,627,673 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 436 | 196,521,667 |
| PACIFIC RESIDENTIAL MORTGAGE LLC | 422 | 144,542,229 |
| MUTUAL OF OMAHA MORTGAGE INC. | 395 | 200,961,188 |
| ONE REVERSE MORTGAGE LLC | 363 | 112,745,680 |
| NORTHWEST REVERSE MORTGAGE | 349 | 169,860,831 |
| FINANCE OF AMERICA MORTGAGE LLC | 340 | 154,787,606 |
| SOUTH RIVER MORTGAGE LLC | 306 | 126,437,075 |
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:
Current Rates
| Date | Fixed Rate | Adjustable Rate |
| 2019-01-01 | 4.90% | 4.99% |
| 2019-02-01 | 4.76% | 4.90% |
| 2019-03-01 | 5.12% | 4.75% |
| 2019-04-01 | 4.60% | 4.75% |
| 2019-05-01 | 5.06% | 4.67% |
| 2019-06-01 | 5.18% | 4.69% |
| 2019-07-01 | 4.77% | 4.24% |
| 2019-08-01 | NA | 4.17% |
| 2019-09-01 | 4.99% | 4.19% |
| 2019-10-01 | 4.31% | 4.05% |
| 2019-11-01 | 4.56% | 3.98% |
| 2019-12-01 | NA | 3.97% |
| 2020-01-01 | 4.68% | 3.96% |
| 2020-02-01 | 4.81% | 3.87% |
| 2020-03-01 | 4.93% | 3.92% |
| 2020-04-01 | NA | 3.40% |
| 2020-05-01 | NA | 3.11% |
| 2020-06-01 | 3.69% | 3.18% |
| 2020-07-01 | 3.95% | 3.13% |
| 2020-08-01 | 3.59% | 2.97% |
| 2020-09-01 | 3.52% | 2.95% |
| 2020-10-01 | 3.52% | 2.90% |
| 2020-11-01 | 3.04% | 2.82% |
| 2020-12-01 | 3.26% | 2.78% |
| 2021-01-01 | 3.22% | 2.75% |
| 2021-02-01 | 3.14% | 2.65% |
| 2021-03-01 | 3.43% | 2.48% |
| 2021-04-01 | 3.25% | 2.37% |
| 2021-05-01 | 3.19% | 2.32% |
| 2021-06-01 | 3.41% | 2.26% |
| 2021-07-01 | 3.27% | 2.17% |
| 2021-08-01 | 3.43% | 2.20% |
| 2021-09-01 | 3.32% | 2.20% |
| 2021-10-01 | 3.25% | 2.09% |
| 2021-11-01 | 3.38% | 2.14% |
| 2021-12-01 | 3.43% | 2.21% |
| 2022-01-01 | 3.29% | 2.27% |
| 2022-02-01 | 3.32% | 2.45% |
| 2022-03-01 | 3.40% | 2.80% |
| 2022-05-01 | 3.56% | 3.61% |
| 2022-04-01 | 3.44% | 3.06% |
| 2022-06-01 | 4.66% | 4.04% |
| 2022-07-01 | 4.69% | 4.40% |
| 2022-08-01 | 5.68% | 5.06% |
| 2022-09-01 | 5.85% | 5.46% |
| 2022-10-01 | 5.60% | 5.95% |
| 2022-11-01 | 5.31% | 6.54% |
| 2022-12-01 | 5.56% | 6.85% |
| 2023-01-01 | 6.81% | 7.09% |
| 2023-02-01 | NA | 7.02% |
| 2023-03-01 | NA | 7.27% |
| 2023-04-01 | NA | 6.94% |
| 2023-05-01 | NA | 6.94% |
| 2023-06-01 | NA | 7.25% |
| 2023-07-01 | NA | 7.47% |
| 2023-08-01 | NA | 7.64% |
| 2023-09-01 | NA | 7.64% |
| 2023-10-01 | NA | 7.67% |
| 2023-11-01 | NA | 7.58% |
| 2023-12-01 | NA | 7.70% |
| 2024-01-01 | NA | 7.38% |
| 2024-02-01 | NA | 7.18% |
| 2024-03-01 | NA | 7.30% |
| 2024-04-01 | NA | 7.32% |
| 2024-05-01 | NA | 7.30% |
| 2024-06-01 | NA | 7.45% |
| 2024-07-01 | NA | 7.41% |
| 2024-08-01 | NA | 7.22% |
| 2024-09-01 | NA | 6.85% |
Historic Rates
| Date | Fixed Rate | Adjustable Rate |
| 2014-01-01 | 5.01% | 2.58% |
| 2014-02-01 | 4.93% | 2.49% |
| 2014-03-01 | 5.01% | 2.50% |
| 2014-04-01 | 4.97% | 2.54% |
| 2014-05-01 | 5.00% | 2.61% |
| 2014-06-01 | 4.96% | 2.52% |
| 2014-07-01 | 5.02% | 2.65% |
| 2014-08-01 | 4.89% | 2.75% |
| 2014-09-01 | 4.95% | 2.57% |
| 2014-10-01 | 5.03% | 2.74% |
| 2014-11-01 | 5.05% | 2.66% |
| 2014-12-01 | 5.02% | 2.68% |
| 2015-01-01 | 4.96% | 2.79% |
| 2015-02-01 | 4.91% | 2.87% |
| 2015-03-01 | 4.95% | 2.95% |
| 2015-04-01 | 4.86% | 3.01% |
| 2015-05-01 | 4.85% | 2.97% |
| 2015-06-01 | 4.79% | 3.10% |
| 2015-07-01 | 4.88% | 3.15% |
| 2015-08-01 | 4.95% | 3.23% |
| 2015-09-01 | 4.93% | 3.13% |
| 2015-10-01 | 4.92% | 3.20% |
| 2015-11-01 | 4.77% | 3.19% |
| 2015-12-01 | 4.93% | 3.33% |
| 2016-01-01 | 4.98% | 3.42% |
| 2016-02-01 | 4.97% | 3.63% |
| 2016-03-01 | 4.95% | 3.82% |
| 2016-04-01 | 4.93% | 3.96% |
| 2016-05-01 | 5.06% | 4.01% |
| 2016-06-01 | 4.84% | 4.12% |
| 2016-07-01 | 4.93% | 4.10% |
| 2016-08-01 | 4.99% | 4.25% |
| 2016-09-01 | 4.96% | 4.42% |
| 2016-10-01 | 5.04% | 4.51% |
| 2016-11-01 | 4.93% | 4.53% |
| 2016-12-01 | 5.06% | 4.65% |
| 2017-01-01 | 4.97% | 4.70% |
| 2017-02-01 | 5.00% | 4.81% |
| 2017-03-01 | 4.99% | 4.64% |
| 2017-04-01 | 4.93% | 4.55% |
| 2017-05-01 | 5.03% | 4.46% |
| 2017-06-01 | 5.02% | 4.42% |
| 2017-07-01 | 5.05% | 4.41% |
| 2017-08-01 | 5.00% | 4.42% |
| 2017-09-01 | 4.89% | 4.48% |
| 2017-10-01 | 4.99% | 4.45% |
| 2017-11-01 | 4.90% | 4.55% |
| 2017-12-01 | 4.99% | 4.65% |
| 2018-01-01 | 4.84% | 4.68% |
| 2018-02-01 | 4.98% | 4.70% |
| 2018-03-01 | 4.65% | 4.70% |
| 2018-04-01 | 4.54% | 4.75% |
| 2018-05-01 | 4.57% | 4.86% |
| 2018-06-01 | 4.69% | 4.81% |
| 2018-07-01 | 4.55% | 4.83% |
| 2018-08-01 | 4.54% | 4.78% |
| 2018-09-01 | 4.57% | 4.73% |
| 2018-10-01 | 4.67% | 4.83% |
| 2018-11-01 | 4.68% | 4.82% |
| 2018-12-01 | 4.51% | 4.92% |
Oregon Cities with the Most Reverse Mortgages
| Rank | City | Zip | Total |
| 1 | GRANTS PASS | 97527 | 586 |
| 2 | REDMOND | 97756 | 522 |
| 3 | MEDFORD | 97504 | 512 |
| 4 | GRANTS PASS | 97526 | 488 |
| 5 | BEND | 97701 | 479 |
| 6 | BEND | 97702 | 459 |
| 7 | PORTLAND | 97211 | 413 |
| 8 | FLORENCE | 97439 | 397 |
| 9 | PORTLAND | 97206 | 395 |
| 10 | MEDFORD | 97501 | 378 |
| 11 | PORTLAND | 97217 | 372 |
| 12 | OREGON CITY | 97045 | 346 |
| 13 | PORTLAND | 97230 | 343 |
| 14 | WOODBURN | 97071 | 335 |
| 15 | CENTRAL POINT | 97502 | 329 |
| 16 | LA PINE | 97739 | 312 |
| 17 | SPRINGFIELD | 97478 | 304 |
| 18 | PRINEVILLE | 97754 | 298 |
| 19 | MILWAUKIE | 97267 | 275 |
| 20 | PORTLAND | 97203 | 274 |
| 21 | COOS BAY | 97420 | 274 |
| 22 | EUGENE | 97405 | 270 |
| 23 | EUGENE | 97402 | 265 |
| 24 | EUGENE | 97404 | 265 |
| 25 | SPRINGFIELD | 97477 | 256 |
| 26 | MILWAUKIE | 97222 | 255 |
| 27 | LEBANON | 97355 | 253 |
| 28 | PORTLAND | 97213 | 252 |
| 29 | KLAMATH FALLS | 97603 | 248 |
| 30 | ROSEBURG | 97470 | 241 |
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
http://www.nwumpqua.org/
OPEN DOOR COUNSELING CENTER
34420 SW TUALATIN VALLEY HWY
HILLSBORO, OR 97123-5470
(503) 640-6689
http://www.opendoorcc.net
