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 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
REVERSE MORTGAGE FUNDING LLC 613 265,092,649
ONE REVERSE MORTGAGE LLC 596 166,793,940
LANDMARK MORTGAGE COMPANY 590 121,742,287
FINANCE OF AMERICA REVERSE LLC 567 209,620,833
BANK OF AMERICA 561 157,764,257
PACIFIC RESIDENTIAL MORTGAGE LLC 519 169,950,729
STAY IN HOME MORTGAGE INC 490 112,121,320
GENWORTH FINANCIAL HM EQUITY ACCESS INC 448 111,166,666
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 412 182,715,867
DIRECTORS MORTGAGE INC 399 157,157,375
COLUMBIA RIVER BANKING COMPANY 389 79,747,452
NORTHWEST REVERSE MORTGAGE 349 169,860,831
FINANCE OF AMERICA MORTGAGE LLC 340 154,787,606
MUTUAL OF OMAHA MORTGAGE INC. 310 156,648,688
AMERICAN PACIFIC MORTGAGE 292 88,655,969
EQUIPOINT FINANCIAL NETWORK INC 290 72,126,670

Since 2012:

Lender Loans Total Principal Limit
AMERICAN ADVISORS GROUP 2,374 878,070,984
REVERSE MORTGAGE FUNDING LLC 613 265,092,649
PACIFIC RESIDENTIAL MORTGAGE LLC 417 142,886,229
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 411 182,575,867
FINANCE OF AMERICA REVERSE LLC 396 165,056,273
ONE REVERSE MORTGAGE LLC 363 112,745,680
NORTHWEST REVERSE MORTGAGE 349 169,860,831
FINANCE OF AMERICA MORTGAGE LLC 340 154,787,606
MUTUAL OF OMAHA MORTGAGE INC. 310 156,648,688
DIRECTORS MORTGAGE INC 291 128,340,175

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
01/01/19 4.90% 4.99%
02/01/19 4.76% 4.90%
03/01/19 5.12% 4.75%
04/01/19 4.60% 4.75%
05/01/19 5.06% 4.67%
06/01/19 5.18% 4.69%
07/01/19 4.77% 4.24%
08/01/19 NA 4.17%
09/01/19 4.99% 4.19%
10/01/19 4.31% 4.05%
11/01/19 4.56% 3.98%
12/01/19 NA 3.97%
01/01/20 4.68% 3.96%
02/01/20 4.81% 3.87%
03/01/20 4.93% 3.92%
04/01/20 NA 3.40%
05/01/20 NA 3.11%
06/01/20 3.69% 3.18%
07/01/20 3.95% 3.13%
08/01/20 3.59% 2.97%
09/01/20 3.52% 2.95%
10/01/20 3.52% 2.90%
11/01/20 3.04% 2.82%
12/01/20 3.26% 2.78%
01/01/21 3.22% 2.75%
02/01/21 3.14% 2.65%
03/01/21 3.43% 2.48%
04/01/21 3.25% 2.37%
05/01/21 3.19% 2.32%
06/01/21 3.41% 2.26%
07/01/21 3.27% 2.17%
08/01/21 3.43% 2.20%
09/01/21 3.32% 2.20%
10/01/21 3.25% 2.09%
11/01/21 3.38% 2.14%
12/01/21 3.43% 2.21%
01/01/22 3.29% 2.27%
02/01/22 3.32% 2.45%
03/01/22 3.40% 2.80%
05/01/22 3.56% 3.61%
04/01/22 3.44% 3.06%
06/01/22 4.66% 4.04%
07/01/22 4.69% 4.40%
08/01/22 5.68% 5.06%
09/01/22 5.85% 5.46%
10/01/22 5.60% 5.95%
11/01/22 5.31% 6.54%
12/01/22 5.56% 6.85%
01/01/23 6.81% 7.09%
02/01/23 NA 7.02%
03/01/23 NA 7.27%
04/01/23 NA 6.94%
05/01/23 NA 6.94%
06/01/23 NA 7.25%
07/01/23 NA 7.47%
08/01/23 NA 7.64%
09/01/23 NA 7.64%
10/01/23 NA 7.67%
11/01/23 NA 7.58%
12/01/23 NA 7.70%

Historic Rates

Date Fixed Rate Adjustable Rate
01/01/14 5.01% 2.58%
02/01/14 4.93% 2.49%
03/01/14 5.01% 2.50%
04/01/14 4.97% 2.54%
05/01/14 5.00% 2.61%
06/01/14 4.96% 2.52%
07/01/14 5.02% 2.65%
08/01/14 4.89% 2.75%
09/01/14 4.95% 2.57%
10/01/14 5.03% 2.74%
11/01/14 5.05% 2.66%
12/01/14 5.02% 2.68%
01/01/15 4.96% 2.79%
02/01/15 4.91% 2.87%
03/01/15 4.95% 2.95%
04/01/15 4.86% 3.01%
05/01/15 4.85% 2.97%
06/01/15 4.79% 3.10%
07/01/15 4.88% 3.15%
08/01/15 4.95% 3.23%
09/01/15 4.93% 3.13%
10/01/15 4.92% 3.20%
11/01/15 4.77% 3.19%
12/01/15 4.93% 3.33%
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%
03/01/17 4.99% 4.64%
04/01/17 4.93% 4.55%
05/01/17 5.03% 4.46%
06/01/17 5.02% 4.42%
07/01/17 5.05% 4.41%
08/01/17 5.00% 4.42%
09/01/17 4.89% 4.48%
10/01/17 4.99% 4.45%
11/01/17 4.90% 4.55%
12/01/17 4.99% 4.65%
01/01/18 4.84% 4.68%
02/01/18 4.98% 4.70%
03/01/18 4.65% 4.70%
04/01/18 4.54% 4.75%
05/01/18 4.57% 4.86%
06/01/18 4.69% 4.81%
07/01/18 4.55% 4.83%
08/01/18 4.54% 4.78%
09/01/18 4.57% 4.73%
10/01/18 4.67% 4.83%
11/01/18 4.68% 4.82%
12/01/18 4.51% 4.92%

Oregon Cities with the Most Reverse Mortgages

Rank City Zip Total
1 GRANTS PASS 97527 581
2 REDMOND 97756 506
3 MEDFORD 97504 504
4 GRANTS PASS 97526 479
5 BEND 97701 474
6 BEND 97702 449
7 PORTLAND 97211 412
8 PORTLAND 97206 390
9 FLORENCE 97439 387
10 MEDFORD 97501 374
11 PORTLAND 97217 371
12 PORTLAND 97230 340
13 OREGON CITY 97045 340
14 WOODBURN 97071 333
15 CENTRAL POINT 97502 325
16 LA PINE 97739 303
17 SPRINGFIELD 97478 302
18 PRINEVILLE 97754 294
19 PORTLAND 97203 272
20 MILWAUKIE 97267 270
21 EUGENE 97405 265
22 COOS BAY 97420 264
23 EUGENE 97402 262
24 EUGENE 97404 261
25 MILWAUKIE 97222 254
26 PORTLAND 97213 252
27 SPRINGFIELD 97477 249
28 LEBANON 97355 249
29 KLAMATH FALLS 97603 248
30 KEIZER 97303 240

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