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
AMERICAN ADVISORS GROUP 991 269152467
FINANCIAL FREEDOM SENIOR FUNDING CORP 829 167418853
LANDMARK MORTGAGE COMPANY 590 121742287
BANK OF AMERICA 561 157764257
ONE REVERSE MORTGAGE LLC 497 128671540
STAY IN HOME MORTGAGE INC 490 112121320
GENWORTH FINANCIAL HM EQUITY ACCESS INC 448 111166666
PACIFIC RESIDENTIAL MORTGAGE LLC 395 119460689
COLUMBIA RIVER BANKING COMPANY 389 79747452
FINANCE OF AMERICA REVERSE LLC 314 89688625
EQUIPOINT FINANCIAL NETWORK INC 290 72126670
GOLF SAVINGS BANK 287 72988820
UNITY MORTGAGE CORP 275 31790425
AMERICAN PACIFIC MORTGAGE 250 70537569
GOLDEN MORTGAGE LLC 249 58960497
BANK OF THE CASCADES 241 59911760
SECURITY ONE LENDING 225 52568030
METLIFE BANK NATIONAL ASSOCIATION 224 59087925

Since 2012:

Lender Loans Total Principal Limit
AMERICAN ADVISORS GROUP 774 217686209
PACIFIC RESIDENTIAL MORTGAGE LLC 293 92396189
ONE REVERSE MORTGAGE LLC 264 74623280
LIBERTY HOME EQUITY SOLUTIONS INC 216 58517372
REVERSE MORTGAGE FUNDING LLC 161 57685800
HIGH TECH LENDING INC 147 47464000
FINANCE OF AMERICA REVERSE LLC 143 45124065
REVERSE MORTGAGE SOLUTIONS INC 107 27732100
WILLAMETTE VALLEY BANK 98 32686050
DIRECTORS MORTGAGE INC 94 33173450

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% 2.58%
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%

Oregon Cities with the Most Reverse Mortgages

Rank City Zip Total
1 PORTLAND 97266 3812
2 GRANTS PASS 97527 833
3 EUGENE 97402 792
4 SALEM 97304 765
5 BEND 97702 699
6 MEDFORD 97501 641
7 BEAVERTON 97007 480
8 SPRINGFIELD 97477 417
9 MILWAUKIE 97267 397
10 ROSEBURG 97470 344
11 KLAMATH FALLS 97603 328
12 HILLSBORO 97123 304
13 FLORENCE 97439 304
14 REDMOND 97756 303
15 GRESHAM 97030 293
16 LAKE OSWEGO 97035 247
17 WOODBURN 97071 244
18 CENTRAL POINT 97502 243
19 OREGON CITY 97045 239
20 TIGARD 97224 236
21 ALBANY 97321 221
22 COOS BAY 97420 219
23 LA PINE 97739 213
24 PRINEVILLE 97754 188
25 LEBANON 97335 184
26 KEIZER 97303 173
27 ASHLAND 97520 164
28 MCMINNVILLE 97128 162
29 BROOKINGS 97415 145
30 WEST LINN 97068 142

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