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 2,526 898,382,842
SEATTLE MORTGAGE COMPANY 1,390 251,258,794
FINANCIAL FREEDOM SENIOR FUNDING CORP 829 167,418,853
REVERSE MORTGAGE FUNDING LLC 612 264,732,649
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 505 162,487,729
STAY IN HOME MORTGAGE INC 490 112,121,320
FINANCE OF AMERICA REVERSE LLC 488 173,755,600
GENWORTH FINANCIAL HM EQUITY ACCESS INC 448 111,166,666
COLUMBIA RIVER BANKING COMPANY 389 79,747,452
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 379 164,597,310
DIRECTORS MORTGAGE INC 376 145,033,375
FINANCE OF AMERICA MORTGAGE LLC 337 153,129,606
NORTHWEST REVERSE MORTGAGE 309 149,830,531
EQUIPOINT FINANCIAL NETWORK INC 290 72,126,670
GOLF SAVINGS BANK 287 72,988,820
LIBERTY HOME EQUITY SOLUTIONS INC 277 77,685,672

Since 2012:

Lender Loans Total Principal Limit
AMERICAN ADVISORS GROUP 2,309 846,916,584
REVERSE MORTGAGE FUNDING LLC 612 264,732,649
PACIFIC RESIDENTIAL MORTGAGE LLC 403 135,423,229
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 378 164,457,310
ONE REVERSE MORTGAGE LLC 363 112,745,680
FINANCE OF AMERICA MORTGAGE LLC 337 153,129,606
FINANCE OF AMERICA REVERSE LLC 317 129,191,040
NORTHWEST REVERSE MORTGAGE 309 149,830,531
LIBERTY HOME EQUITY SOLUTIONS INC 269 75,298,672
DIRECTORS MORTGAGE INC 268 116,216,175

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%

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 567
2 REDMOND 97756 491
3 MEDFORD 97504 490
4 GRANTS PASS 97526 468
5 BEND 97701 460
6 BEND 97702 432
7 PORTLAND 97211 407
8 PORTLAND 97206 379
9 FLORENCE 97439 371
10 PORTLAND 97217 368
11 MEDFORD 97501 362
12 OREGON CITY 97045 336
13 PORTLAND 97230 328
14 WOODBURN 97071 316
15 CENTRAL POINT 97502 315
16 SPRINGFIELD 97478 296
17 LA PINE 97739 294
18 PRINEVILLE 97754 278
19 PORTLAND 97203 270
20 MILWAUKIE 97267 259
21 EUGENE 97405 256
22 COOS BAY 97420 254
23 EUGENE 97402 253
24 EUGENE 97404 253
25 MILWAUKIE 97222 247
26 SPRINGFIELD 97477 247
27 PORTLAND 97213 246
28 LEBANON 97355 241
29 KLAMATH FALLS 97603 239
30 ROSEBURG 97470 234

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