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 2,115 693,941,367
SEATTLE MORTGAGE COMPANY 1,390 251,258,794
FINANCIAL FREEDOM SENIOR FUNDING CORP 829 167,418,853
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 500 160,033,729
REVERSE MORTGAGE FUNDING LLC 494 201,103,674
STAY IN HOME MORTGAGE INC 490 112,121,320
GENWORTH FINANCIAL HM EQUITY ACCESS INC 448 111,166,666
FINANCE OF AMERICA REVERSE LLC 431 141,986,450
COLUMBIA RIVER BANKING COMPANY 389 79,747,452
DIRECTORS MORTGAGE INC 316 110,161,695
EQUIPOINT FINANCIAL NETWORK INC 290 72,126,670
GOLF SAVINGS BANK 287 72,988,820
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 279 109,162,010
LIBERTY HOME EQUITY SOLUTIONS INC 277 77,685,672
GOLDEN MORTGAGE LLC 276 67,402,147
UNITY MORTGAGE CORP 275 31,790,425

Since 2012:

Lender Loans Total Principal Limit
AMERICAN ADVISORS GROUP 1,898 642,475,109
REVERSE MORTGAGE FUNDING LLC 494 201,103,674
PACIFIC RESIDENTIAL MORTGAGE LLC 398 132,969,229
ONE REVERSE MORTGAGE LLC 363 112,745,680
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 278 109,022,010
LIBERTY HOME EQUITY SOLUTIONS INC 269 75,298,672
FINANCE OF AMERICA REVERSE LLC 260 97,421,890
FINANCE OF AMERICA MORTGAGE LLC 229 95,551,606
HIGH TECH LENDING INC 223 77,123,250
DIRECTORS MORTGAGE INC 208 81,344,495

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%

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 PORTLAND 97266 4,497
2 BEND 97702 976
3 GRANTS PASS 97527 968
4 SALEM 97304 943
5 EUGENE 97402 937
6 MEDFORD 97501 802
7 BEAVERTON 97007 621
8 SPRINGFIELD 97477 506
9 MILWAUKIE 97267 478
10 REDMOND 97756 433
11 HILLSBORO 97123 393
12 GRESHAM 97030 387
13 ROSEBURG 97470 385
14 KLAMATH FALLS 97603 370
15 FLORENCE 97439 355
16 LAKE OSWEGO 97035 312
17 OREGON CITY 97045 311
18 TIGARD 97224 299
19 WOODBURN 97071 293
20 CENTRAL POINT 97502 293
21 ALBANY 97321 280
22 LA PINE 97739 264
23 COOS BAY 97420 246
24 PRINEVILLE 97754 239
25 LEBANON 97335 223
26 KEIZER 97303 220
27 MCMINNVILLE 97128 207
28 ASHLAND 97520 203
29 BROOKINGS 97415 176
30 WEST LINN 97068 173

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