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Tigard 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 Tigard, 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 Tigard 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.
Tigard Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Tigard (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 Tigard 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.
Although not officially incorporated as a city within the state of Oregon until the latter half of the 20th century, Tigard, Oregon’s history goes back to the mid-1850’s. Initially settled by several different pioneer families, most notable among them was clearly the Tigards, who arrived in the general region of the future town when it was known as “East Butte.” After their initial settlement, the family headed by Wilson M. Tigard became involved in building out some needed services for the area including a school, a general store, and a social meeting hall.
East Butte was renamed “Tigardville” in 1886, and the early years of the 20th century saw the town’s main street area expand significantly. In 1907, the town dropped the “ville” off of its name to further distinguish it from neighboring Wilsonville. By 1910, a prominent multi-level building that featured a restaurant, grocery store and rooms for rent joined a livery stable and a post office to fill out the young community into a fully-featured town southwest of Portland.
Like many surrounding communities at the time, the arrival of a railroad would help to spur considerable growth in Tigard over the next several decades, which focused further development closer to the location of the rail stop and ultimately culminated in its incorporation as a city in the state of Oregon in 1961.
In the modern day, Tigard’s proximity to the Interstate 5 corridor connecting Washington, Oregon and California still make it an easy spot for visitors making their way up and down the west coast. While moderately sized with a 2018 estimated population of just over 54,000 people, Tigard is the 13th largest city in Oregon based on a 2014 estimate in statewide newspaper The Oregonian. As much as 65 percent of city land is set aside for residential use, and the city saw its largest boon of single-family home construction in 1995 when it issued 335 permits for new houses.
The economy in the area is driven by a few larger players, with Capital One Services being the city’s biggest employer with 861 total workers. Other major employers in the area include Nordstrom, Macy’s Department Stores, the local school district, and the city government. In terms of its recreational access, Tigard maintains a total of 20 parks of varying sizes that, if combined, would come to nearly 500 acres of land.
In terms of other amenities, Tigard is home to one of the largest malls in the state of Oregon, Washington Square mall, one of the top-grossing malls in the United States, with sales of $716 per square foot. With over 200 stores housed in its 1.5 million square foot retail space, Tigard residents have the most immediate access to this shopping center when compared to other residents of the Oregon metropolitan area.
Because of its relatively close proximity to the city of Portland, Tigard maintains the same generally temperate climate of its more well-known neighbor. Being situated in the Pacific Northwest and right next to the Pacific Ocean gives the area a mild quality, allowing for cold, though not frigid winters and warm, though not excessively hot summers.
For seniors who are seeking to age in place, Tigard’s proximity to Portland also gives it access to an abundance of senior-specific services including over 30 home health care agencies and four adult day care centers. According to data from LongTermScorecard.org, Oregon ranks third in the country out of all 50 states in terms of quality, long-term senior care based on 2014 rankings.
Tigard Senior Population and Lending Limits
11 percent of Tigard’s population is made up of seniors that are at least 65 years old, based on U.S. Census Bureau data. Of Tigard’s senior population, 72 percent (accounting for 2,747 households) are also homeowners as opposed to renters. That means there’s a dedicated, community of seniors that call Tigard their long-term home.
Thousands of the senior households in Tigard 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, Tigard’s median home price is greater than the rest of the state at $469,900, according to Zillow.
Some homes in Tigard may be worth more than this median value. If your home has been appraised for more than the HUD lending limit of $822,375, 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 Tigard 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 Tigard 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 3.06% (4.06% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 2.23% 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 Tigard, 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!"|