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Roseburg 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 Roseburg, 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 Roseburg 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.
Roseburg Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Roseburg (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 Roseburg 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.
Roseburg is a moderately-sized community situated in the southern area of the state of Oregon, in the Umpqua River Valley. With a population of just under 25,000 people according to a 2015 estimate by the United States Census Bureau, Roseburg is the principal city of what is known as the Roseburg, Oregon Micropolitan Statistical Area.
Named after American pioneer and settler Aaron Rose – who constructed the first building in the area that would ultimately become Roseburg – the area was first settled in 1851 and was officially incorporated as a town in Oregon state 11 years later in 1872. Roseburg’s primary industry identity began to emerge in the 1930’s, when Roseburg Lumber helped to give the community a reputation as the “timber capital of the nation,” a nickname that the town embraced for itself by the 1970s.
In 1959, catastrophe struck the community when the Gerretsen Building Supply Company caught fire in the early morning hours of August 7. Unbeknownst to the firefighters responding to the blaze, a truck from the Pacific Powder Company packed with explosives – two tons of dynamite and four-and-a-half tons of the blasting agent nitro carbo nitrate – was parked not far from the burning building. This eventually caused a devastating explosion, which totally destroyed buildings with an eight block radius of the flashpoint and severely damaged structures in an additional 30 block radius.
This event would come to be known as the “Roseburg Blast,” and caused an estimated $10-12 million in damages that translates to roughly between $87-104 million in 2019 dollar amounts. The Blast led to the reconstruction of the city’s downtown area primarily funded by insurance payouts for the affected businesses.
These days, Roseburg prides itself on how the community fits in and accentuates the natural beauty of the Umpqua River Valley. Official city materials bring up the very distinct seasons that take place in its climate, describing cool winters with minimal freezing and which provide most of the rainfall that helps fuel springs with an abundance of blossoming.
Weather starts to warm throughout April and May, culminating in summers with an average high of around 84 degrees fahrenheit in July and August. Fall weather is crisp, with the area’s dense foliage making vibrant leaf color-changes visible in late October.
Consistent with the reputation the city has touted since the 1970s, the biggest employer in the community remains Roseburg Forest Products, which employed around 3,000 people with annual revenues of nearly $1 billion as of 2012. Local hospital Mercy Medical Center is the town’s second biggest employer, standing at just over 1,100 employees as of 2013.
Roseburg is served by two small public airports, its own bus transit system, a highway that runs through the center of downtown, and is easily accessed by Interstate 5.
Roseburg Senior Population and Lending Limits
Nineteen percent of Roseburg’s population is made up of seniors who are at least 65 years old, based on U.S. Census Bureau data. Of Roseburg’s senior population, 63 percent (accounting for over 2,000 households) are also homeowners as opposed to renters. That means there’s a dedicated community of seniors who call Roseburg their long-term home.
Thousands of the senior households in Roseburg may be eligible to obtain a reverse mortgage. Some of these older homeowners have already done their research and are using reverse mortgages to support their retirement needs.
Compared with the average home price in Oregon, Roseburg’s median home price is nearly $123,000 lower than that of the rest of the state, at $222,200, according to the Zillow Home Value Index. Prices in the area have increased 5.7 percent over the past year, and Zillow projects that they will continue to rise over the course of the next year by roughly 1.2 percent.
Some homes in Roseburg are worth more than this median value, and 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 Roseburg All Reverse Mortgage® 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 broughtexclusive offers to our valued Roseburg 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 Roseburg, 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!"|