Albany Reverse Mortgage Lenders
At All Reverse Mortgage, Inc. (ARLO™), we’re proud to be Oregon’s #1 Rated Reverse Mortgage Lender, celebrating 20 years of dedicated service. Our A+ rating from the Better Business Bureau and perfect 5-star reviews reflect our unwavering commitment to providing you with the best terms and exceptional customer care.
Since 2004, our mission has been simple: to help Oregon homeowners make the most of their home’s equity with peace of mind. As a HUD-approved lender, we offer a comprehensive range of HECM and jumbo reverse mortgages tailored to meet your specific needs.
With our competitive rates and lower costs, you can retain more of your home’s equity. We’re here to show you the difference our experience can make, and we look forward to guiding you every step of the way!
All Reverse Mortgage is licensed by the Division of Finance and Corporate Securities (DFCF) License/Registration #ML-5006)
Albany Reverse Mortgage Facts
| City | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Purchase Reverse Mortgages Closed Last 12 Months | Lenders in Albany (est) | Avg. Home Value |
|---|---|---|---|---|---|
| Albany | 3,274 | 2 | 0 | 2 | $274,900 |
HUD Approved Direct Lender
All Reverse Mortgage, Inc. (ARLO™) is approved by the Department of Housing and Urban Development (HUD) to originate, underwrite, and close HUD’s Home Equity Conversion Mortgage (HECM), commonly referred to as a reverse mortgage.
In Albany, All Reverse Mortgage, Inc. (ARLO™) assists homeowners with refinancing, whether they want to pay off an existing loan and eliminate monthly mortgage payments, access their home equity for other purposes, or pursue a combination of both.
About All Reverse Mortgage, Inc.
At All Reverse Mortgage, Inc. (ARLO™), we’re proud to be licensed by the state of Oregon, bringing decades of expertise and local knowledge to homeowners across the state. Our owners and management were part of the team that introduced and sold the first fixed-rate jumbo reverse mortgage in 2008. With extensive experience in jumbo and proprietary loan programs, we continually seek new products to serve Oregon homeowners better, especially those with high-value homes in markets where the HUD HECM may not fully meet their needs.
As a licensed Oregon lender, we understand the unique aspects of the local housing market. We’re dedicated to helping you navigate the complexities of reverse mortgage options, from the HUD HECM to niche jumbo programs. Our seasoned originators are well-equipped to guide you through the process, ensuring you understand the pros and cons of each option so you can make an informed decision.
For homeowners aged 62 and above, a reverse mortgage can be a powerful financial tool—not just a last resort. Whether it’s eliminating existing mortgage payments or establishing a growing line of credit, we’re here to help you use your home’s equity to live comfortably and plan for the future in your family home.
Albany Details
Officially incorporated as a city in Oregon in 1864, Albany is the 11th largest city in the state by population. Unlike many other cities in the Pacific Northwest, Albany’s journey from initial settlement by early European colonists to its incorporation took less than 20 years. Unfortunately, the arrival of European settlers in the late 1780s led to a smallpox epidemic, followed by a malaria outbreak in the 1830s, tragically resulting in the deaths of up to 90 percent of the native population.
In the aftermath, European settlers began establishing infrastructure in the largely vacant area, eventually naming the new community “Albany” after their hometown in New York. By the 1850s, Albany had become a hub of activity in the Willamette Valley, with the establishment of the area’s first school, a flour mill, and a general store. The city was officially incorporated in 1864, and by the early 1870s, Albany was connected to the outside world via a railroad, solidifying its importance as a regional center.
Albany is known for its vibrant cultural scene, including the annual World Beat Festival, which features international food, dance, and crafts from around the globe. The city’s Riverfront Park hosts this event every summer, drawing visitors from across the region.
One of Albany’s nicknames is the “rare metals capital of the world,” due to its production of zirconium, hafnium, and titanium. The city also exports a variety of crops, including grass seed, mint, beans, corn, and strawberries. While timber once played a major role in the local economy, a decline in the industry led Albany to diversify, with retail trade, social assistance/healthcare, and manufacturing now forming the core of the area’s economy. The city is also exploring green energy, with local company Oregon Freeze Dry partnering with Seattle-based technology firm EnerG2 to produce carbon electrode material.
Albany’s climate is typical of the Pacific Northwest, with mild, wet winters and warm, dry summers. The hottest month is August, with an average temperature of around 83 degrees Fahrenheit, while December and January are the coldest months, with average lows just over 34 degrees. Rainfall is higher than the national average, but snowfall is well below average, making Albany one of the more comfortable climates in Oregon.
With a population of just over 50,000, Albany offers a wide range of amenities, including an airport, hospital, local newspaper, highway access, public transportation, and a strong public education system with two high schools. For senior residents, there are 30 nearby assisted living facilities, 26 home care agencies, 16 nursing homes, and 3 adult day care centers.
Albany Lending Limits
Albany, Oregon, is a growing community with a strong presence of senior homeowners. According to U.S. Census Bureau data, 13% of Albany’s population is aged 65 and older, and of those seniors, 76% are homeowners, meaning over 3,200 households could potentially benefit from a reverse mortgage.
As of January 2024, Albany’s median home price is approximately $274,900, which is below Oregon’s state average. According to the Zillow Home Value Index, home prices have risen 6.9% over the past year, and an additional increase of 3.9% is anticipated in the coming year. Even with rising home values, most homes in Albany fall well within the federal reverse mortgage lending limit of $1,209,750, making a Home Equity Conversion Mortgage (HECM) an excellent option for eligible homeowners. For those with higher-value properties, jumbo reverse mortgage programs are available to unlock even more equity.
Why Consider a Reverse Mortgage?
A reverse mortgage can be a powerful tool for senior homeowners looking to:
- Eliminate monthly mortgage payments
- Supplement retirement income
- Establish a line of credit
- Access home equity without selling the property
If you’re a senior homeowner in Albany, All Reverse Mortgage, Inc. (ARLO™) is ready to guide you through the process and help you explore how a reverse mortgage could improve your financial security during retirement.
Call Toll-Free (800) 565-1722 or visit our reverse mortgage calculator to see how much equity you can access today. We’re here to assist you every step of the way!
