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Hillsboro Reverse Mortgage Lenders
All Reverse Mortgage, Inc. (ARLO™) is proud to be Oregon's #1 Rated Reverse Mortgage Lender by the BBB with a Perfect 5.0 Stars and A+ Exemplary Rating. We currently lend in 16 states and our headquartered in Southern California.
All Reverse Mortgage was incorporated in CA November 2004 and as the name implies, the only loan product that All Reverse Mortgage, Inc. (ARLO™) originates is in fact, the reverse mortgage.
We’re committed to be your lender because you deserve the best rate at the lowest price possible.
We’re a HUD Approved direct lender lending the national HECM programs and offer a suit of Non-FHA & Jumbo Reverse Mortgages to better suit homeowners in SoCal with higher value homes over the national 2023 lending limit of $1,089,300.
We welcome you to compare our reviews and our lower rates and closing costs to any other major lender! The difference is clear, and we can’t wait to show you!
Hillsboro Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Hillsboro (est)||Avg. Home Value|
HUD Approved Direct Lender
All Reverse Mortgage, Inc. (ARLO™) is approved with the Department of Housing and Urban Development (HUD) 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, Inc. (ARLO™) originates in Hillsboro and closes both refinance loans, where borrowers already own their home and are looking to 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 as a mortgage of last resort. Everything from the elimination of the existing mortgage payments to the line of credit that grows 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.
First given the name "Hillsborough" by the settlers occupying the area at that time, the town was ultimately incorporated as an official city within the state of Oregon on October 19, 1876 with its current spelling, shedding the final three letters sometime before its official incorporation. Named for settler and later Oregon state politician David Hill, Hillsboro’s official recognition followed after an extension to the Oregon California Railroad extended to the town bringing new citizens and visitors. At one point in its early history in 1910, Hillsboro was the highest populated city in the country with a population of 2,016 people.
The town is very much in touch with its early roots, as there are no less than a dozen locations on the National Register of Historic Places situated in and around the city.
These days, Hillsboro is the fifth largest city in the state of Oregon by population, outstripped only by Gresham, the capitol Salem, Eugene, and of course the city of Portland. Hillsboro is a city with a great deal of local pride, and while there are numerous ways for both its residents and visitors to become involved in a plethora of activities that the city has to offer, the city is nonetheless always focused on expanding its horizons in the future.
In 2005, the city began implementing the Hillsboro 2020 Vision and Action Plan to enhance the community, and as 2020 is fast approaching they’ve implemented a similar pursuit called The Hillsboro 2035 Community Plan, aimed primarily at increasing residents access to services that promote health and wellness, allow additional opportunities for education and community involvement, further bolster the city’s economic infrastructure, add to the recreational amenities of the area, and focus new efforts in the public and private sector within Hillsboro on environmental sustainability.
With an estimated population of just over 108,000, Hillsboro prides itself on maintaining a lower unemployment rate than the larger Portland metropolitan area. Average annual income for Hillsboro is also nearly $10,000 higher than Portland and nearly $20,000 higher than the national average, according to data from the U.S. Census Bureau American Community Survey. Median home prices in the area are also about $100,000 more affordable than other nearby metropolitan areas, including Seattle and San Francisco.
Like a lot of areas throughout the state of Oregon, Hillsboro has an abundance of natural scenery and activities to take in. Popular areas include Roloff Farms which has an abundance of family-related activities and sights, the Oak Knoll Winery, the annual Oregon International Air Show which takes place at Hillsboro’s local airport, and the beautiful Jackson Bottoms Wetlands Preserve.
Like many parts of the Pacific Northwest, Hillsboro has a moderate climate owed to its proximity to the Pacific Ocean. The average high temperature in the middle of the summer is 81 degrees fahrenheit, while the average low in the dead of winter is 32.7 degrees. While the average number of days with precipitation is generally high at 151, that accumulates to an annual total of 37 inches, with most precipitation occurring every December and January.
Hillsboro Lending Limits
8 percent of Hillsboro’s population is made up of seniors that are at least 65 years old, based on U.S. Census Bureau data. Of Hillsboro’s senior population, 69 percent (accounting for over 3,000 households) are also homeowners as opposed to renters. That means there’s a dedicated community of seniors that call Hillsboro their long-term home.
Thousands of the senior households in Hillsboro 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, Hillsboro’s median home price is greater than the rest of the state at $541,573 as of January 2023, according to the Zillow Home Value Index. Prices in the area have increased 9.6% percent over the past year.
Some homes in Hillsboro may be worth more than this median value. If your home has been appraised for more than the HUD lending limit of $1,089,300, 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 Hillsboro All Reverse Mortgage, Inc. (ARLO™) is here to answer your questions.
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 brought exclusive offers to our valued San Jose 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 6.680% (8.094% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines 6.67% (2.00 Margin) with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Options|
|ZERO Financed Closing Cost Options (*on select jumbo programs)|
|ZERO Monthly Servicing Fees on ALL programs|