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Beaverton 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 Beaverton, 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 Beaverton 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.
Beaverton Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Beaverton (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 Beaverton 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.
Incorporated as an official city in the state of Oregon in 1893, Beaverton got its name because of its proximity to a large body of water that resulted from dams constructed by beavers. The settlement known today as Beaverton resulted due to the combined efforts of several settlers coming together to try and get the area served by a railroad, even though the area at the time was described as comprising little more than a series of swamps and marshes connected by beaver dams funneling into what looked like a large lake.
Although it got its first post office inside a general store in 1872, it would still be another two decades before Beaverton was officially incorporated, and at the time of its official recognition had a population of about 400 people. In the early 20th century, Beaverton was a home of an early auto dealership from the Ford Motor Company, which maintains a presence in the area to this day. The early 1920s even saw the creation of a movie studio in Beaverton which reportedly produced around 15 films, the site of which is now occupied by the area’s small airport.
These days, Beaverton stands as Oregon’s sixth largest city by population, outstripped only by Hillsboro, Gresham, the capitol Salem, Eugene, and of course the state’s major city, Portland. Beaverton itself is situated only 7 miles west of downtown Portland, on the shores of the Tualatin River.
Beaverton also serves as one of Oregon’s biggest economic centers, with the city serving as the home of major athletic apparel corporation Nike, the second largest employer in the city with nearly 3,200 employees, next to the Beaverton School District which sports over 4,500. Comcast Cable (also known as Xfinity) is also a major Beaverton employer with over 1,300 employees, rounded out by large presences like Stream Global Services and the IBM Corporation.
As a part of the so-called “Silicon Forest,” Beaverton plays host to a number of other technology companies besides the likes of IBM, including test and measurement device manufacturer Tektronix, and artistic software company Red Giant Software.
Much like other areas around both the state of Oregon and the larger Pacific Northwest, Beaverton features a great deal of natural beauty that is exemplified by some of its most popular places to visit. The Tualatin Hills National Park, in the area of the eponymous river, features beautiful but not particularly difficult trails all punctuated by a beautiful visitor’s center. Other sites worth seeing include the Cooper Mountain Nature Park, the Fanno Creek Greenway Trail, and the Hyland Forest Park.
Beaverton also features art galleries and a whole host of other amenities like a community center, a movie theater, breweries and distilleries, and more.
Like the majority of the state of Oregon and the Pacific Northwest region in general, Beaverton is home to a mild climate that finds itself highly regulated by its proximity to the Pacific Ocean. Its average high temperature in the middle of the summer is 80 degrees fahrenheit, while its average low in the dead of winter is right below the freezing threshold at 31 degrees.
Precipitation also may seem high with an annual average of just about 40 inches, but outside of the late fall and winter months it’s more consistently present than it is overwhelming.
Beaverton Senior Population and Lending Limits
10 percent of Beaverton’s population is made up of seniors that are at least 65 years old, based on U.S. Census Bureau data. Of Beaverton’s senior population, 61 percent (accounting for over 3,700 households) are also homeowners as opposed to renters. That means there’s a dedicated community of seniors that call Beaverton their long-term home.
Thousands of the senior households in Beaverton 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, Beaverton’s median home price is $43,100 greater the rest of the state at $389,500, according to the Zillow Home Value Index. Prices in the area have increased 2.3 percent over the past year, and Zillow projects that they will continue to rise over the course of the next year by roughly 0.7 percent.
Some homes in Beaverton 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 loan.
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 Beaverton 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 Beaverton 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 Beaverton, 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!"|