Compare Ashland's Best Reverse Mortgages
Ashland Reverse Mortgage Lenders
We are proud to be Oregon's #1 rated reverse mortgage lender by the BBB with a Perfect 5.0 stars and A+ review. All Reverse Mortgage® lends in 16 states nationwide, including Ashland, OR.
All Reverse began in 2004 and as the name implies, the only loan product that All Reverse Mortgage® originates is the residential reverse mortgage loan.
We offer reverse mortgages to Ashland homeowners and our staff has a combined lending experience exceeding 100 years with national mortgage banking experience on both coasts and points between. Due to this varied direct experience, All Reverse Mortgage® is well positioned to be able to assist borrowers with all specific needs associated with the reverse mortgage program.
Ashland Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Ashland (est)||Avg. Home Value|
HUD Approved Direct Lenders
United Southwest and All Reverse are approved lenders with HUD (Department of Housing and Urban Development) to originate, underwrite and close the HUD Home Equity Conversion Mortgage (HECM or "Heck-um"). The HECM is HUD's acronym for their reverse mortgage loan.
All Reverse Mortgage originates in Ashland and closes both refinance loans where borrowers already own their home and are looking either pay off their existing loan and have no more monthly mortgage payment, utilize their equity for other purposes if they have no existing loan or possibly a combination of both.
About All Reverse Mortgage
The owners and management of All Reverse were part of the team that wrote and sold the first fixed rate jumbo reverse mortgage in 2008 and as such, have extensive experience in jumbo or proprietary loan programs as well. We are always looking for new products to offer to borrowers of high valued homes in the higher home priced markets that the HUD HECM may just not serve as well. Jumbo or proprietary programs typically offer much lower Principal Limits as they relate to values though so not all borrowers are better served with the jumbo programs.
Only a seasoned originator can readily inform borrowers which program will best suit their needs and the positives and negatives of each so that the borrower can make an informed decision. It is no longer uncommon anywhere in the country for a market to be a solid HUD HECM market and then within just a short distance for a niche jumbo market to be located where there is a need for a jumbo program.
Therefore, homeowners aged 62 and above in all markets have seen that the reverse mortgage can be a very solid financial tool and many are now seeking the reverse mortgage to augment their retirement plans and not so much the mortgage of last resort. Everything from the elimination of the existing mortgage payments to the line of credit that grows make reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably in their family home, but to plan for the future as well.
Situated just 16 miles north of the border with California, Ashland is located along the route of Interstate 5 and is the moderately-sized home of Southern Oregon University.
After gold was discovered in the area now consisting of a neighboring town called Jacksonville, a group of settlers to the area that would become Ashland first arrived and started to make a series of donation land claims that would ultimately serve as the foundation of the city of Ashland. A steady influx of businesses and community structures like schools and churches all contributed to growth for the young community through the end of the 19th century, and in 1871 the town adopted the name “Ashland.” The following year, Oregon State University was established, and still calls the city home to this day.
The presence of mineral deposits in the area’s streams also makes Ashland a source of lithia water, which led to ultimately unrealized plans to create a mineral spa in the Ashland area. Entrepreneurs still took to bottling and selling mineral water sourced from the nearby Emigrant Lake, however. Ashland also served as a stop on the railroad that connected California, Oregon and Washington, and though many of the relics of the city’s time as a railroad hub are gone, it still maintains 48 individual buildings and two historic districts – the Ashland Railroad Addition District and the Downtown District – that have places on the National Register of Historic Places.
Ashland established the Oregon Shakespeare Festival in 1935, which has proven to be a big part of the community’s identity in recent years. Tourism is a big part of the city’s economy, with a lot of restaurants, hotels and stores and galleries serving a big influx of people that come to the area specifically for the Festival, which had an estimated 500 workers for the 2010 edition of the event. Unsurprisingly in terms of year-round economic activity, the city’s biggest employer is Southern Oregon University which has a full staff of nearly 750 people.
Like a lot of places to visit in Oregon, Ashland has an abundance of natural beauty, owing to its proximity to the Shasta Mountains and all of their scenery. A must-see spot in Ashland is Lithia Park, consisting of 93 acres and which begins in the heart of Ashland’s downtown shopping area. It features a Japanese garden, tennis courts, two public greens and numerous hiking trails.
In terms of its climate, Ashland sits in Oregon's southwest interior climate zone which gives it a mild overall air. Cloud cover is heaviest in the colder months of the year. The average high in the middle of the summer hovers just below 87 degrees fahrenheit, while the average low in the dead of winter reaches 29.2 degrees. There are just over 113 average days of precipitation in Ashland per year, generally lower when compared with figures across the rest of the state.
Ashland Senior Population and Lending Limits
18 percent of Ashland’s population is made up of seniors that are at least 65 years old, based on U.S. Census Bureau data. Of Ashland’s senior population, 85 percent (accounting for over 2,000 households) are also homeowners as opposed to renters. That means there’s a dedicated community of seniors that call Ashland their long-term home.
Thousands of the senior households in Ashland may be eligible to obtain a reverse mortgage. Several of these older homeowners have already done their research and begun using reverse mortgages to support their retirement needs.
Compared with the average home price in Oregon, Ashland’s median home price is $112,000 greater the rest of the state at $458,500, according to the Zillow Home Value Index. Prices in the area have increased 0.7 percent over the past year, and Zillow projects that they will continue to fall over the course of the next year by roughly 0.3 percent.
Some homes in Ashland may be worth more than this median value. If your home has been appraised for more than the HUD lending limit of $765,600, you may still be able to tap into your home equity with the help of a reverse mortgage.
If you're a homeowner who fits this description and you're interested in using a reverse mortgage to supplement your retirement, you might want to consider a jumbo reverse mortgage, from which you may be able to access a greater portion of your home equity than you otherwise would with a FHA-insured HECM reverse mortgage.
Reverse mortgages might not be the perfect solution for every homeowner, but depending on your particular situation, a HECM could be something to consider as you approach your retirement years.
If you reside in Ashland All Reverse Mortgage® is here to answer your questions. Access our online calculator to estimate your reverse mortgage lending limit or call usToll Free (800) 565-1722
Additional Oregon Lender Resource Links:
Reversemortgage.org NRMLA Members in OR: https://www.reversemortgage.org/Find-a-Lender/state/OR
HUD.GOV Approved Lenders in Oregon for HECM Loan
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently broughtexclusive offers to our valued Ashland homeowners. Because of our unique process we're able to offer a better federally-insured reverse mortgage with no compromise.
Take a look at some of our program benefits that you won't find elsewhere:
|Exclusive 3.68% (5.25% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 2.98% with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Plans|
|ZERO Financed Closing Cost Plans|
|ZERO Monthly Servicing Fees on ALL programs|
How can we offer you more favorable terms?We are a direct lender approved by FHA (Federal Housing Administration) The HECM is literallyall we do. All Reverse Mortgage is not just a name for us. We have a very low (almost non-existent) staff turnover and our people are experts. We don't work with Brokers, allowing us to pass the savings on to you. We don't hire "celebrity" spokespersons as we don't believe you should have to pay for a lender's expensive marketing budget with higher loan costs. We Charge Less! Check out our competition and our customer ratings. We never forget that this loan is about you and your needs and we put you first with superior service and lower costs.
All Reverse vs. the others
HUD approved direct lender.
Working with a local Ashland, OR lender saves you time and money.
As an award-winning direct lender our goal remains simple; to offer you the very best terms accompanied by extraordinary customer service.
What Our Customers Are Saying
|"There was no car salesman type of protracted negotiation. All reverse got right down to a good quote without a series of incremental steps."|
|"I was surprised how easy it was to deal with an out of state company. Actually it was much easier than my previous dealings with local banks and brokers"|
|"It is a wonderful feeling to have no mortgage and extra cash in our pocket. We are very happy."|
|"Thank you to All Reverse for handling everything in an efficient and smooth way. Thoroughly appreciate everything you have done to make things easy for me."|
|"This was the smoothest mortgage process I have ever experienced! And so fast!"|