Compare West Linn's Best Reverse Mortgages
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West Linn 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+ Exemplary Rating. We currently lend in 16 states including all of Oregon and West Linn, 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 Tuscon 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.
West Linn Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in West Linn (est)||Avg. Home Value|
HUD Approved Direct Lender
All Reverse Mortgage® 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® originates in West Linn 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 Mortgage® 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 well. Jumbo or proprietary programs typically offer much lower Principal Limits as they relate to values, 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.
West Linn Details
The territory that would come to be known as West Linn was first settled by Oregon pioneers in the 19th century, after thousands of years of occupation by indigenous populations. Notable Oregon pioneer Robert Moore first came to the area in 1843, acquiring over 1,000 acres of land west of the Willamette Valley from a Native American chief, establishing a town he called “Robin’s Nest” that same year.
In an effort to protect his ownership of the territory, Moore filed a claim with the then-provisional government of the Oregon Country, though he wasn’t sure if the claim would hold up legally due to the rather amorphous presence of laws and government in the still-wild areas of the western frontier. Five years later, the Oregon Territorial Legislature was established by the United States Congress to serve as the legislative representative government of the Oregon territory, and would hold such authority over the area until Oregon achieved its own statehood in 1859.
The Oregon Territorial Legislature voted to rename Moore’s “Robin’s Nest” to “Linn City” in 1845 in honor of Senator Lewis Linn, who represented the state of Missouri in the Senate from 1833 to 1843 before his death at the age of 47. The county, known as “Linn County,” was also named in honor of the late senator, who was also a family friend of Moore’s.
As the years went by through the remainder of the 19th century, Linn City served as a political and commercial rival to the adjacent town of Oregon City before suffering a series of mishaps, both man-made and otherwise. A fire and what became known as the Great Flood of 1862 put a stop to additional settlers coming to the area, and caused many surviving family members to leave and resettle in other places all across parts of the Pacific Northwest.
In the early years of the 20th century, Linn City and the neighboring town of Willamette began growing and coming near to encroaching on each other’s borders, which resulted in the merger of both towns to be incorporated as the city of West Linn, Oregon in 1913, in addition to other nearby smaller communities including West Oregon City, Bolton, Sunset and Willamette Heights.
The new incorporation and consolidation of the different communities allowed the new city of West Linn to gain access to needed utilities, services and city improvements without having to be annexed by Oregon City. The population of the consolidated area steadily grew over time, tallied at 225 residents in 1860 before increasing to 1,628 by 1920. By 1970, the population had hit the threshold of 7,000 residents, growing steadily with each passing year to an estimated 27,000 by 2019.
Into the 21st century, West Linn was recognized as an ideal place to live by national media outlets including CNN and Money Magazine, which cited the views of beautiful vistas of the Cascade Mountains and a relatively low cost of living owing to its status as a generally smaller town. Local taxes are also considered generally low and although the area has something of a small-town feel, it is less than a 30-minute drive from the city of Portland providing access to all of the amenities of a major city.
The community’s commitment to sustainable forestry has also been recognized nationally by the Arbor Day Foundation, which named the city as “Tree City USA” for nearly 20 years by the time it received the honor in 2012.
West Linn Lending Limits
11 percent of West Linn’s population is made up of seniors that are at least 65 years old, based on U.S. Census Bureau data. Of West Linn’s senior population, 11 percent (accounting for nearly 1,700 households) are also homeowners as opposed to renters. That means there’s a dedicated community of seniors that call West Linn their long-term home.
Thousands of the senior households in West Linn 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, West Linn’s median home price is over $200,000 greater than the rest of the state at $607,880, according to the Zillow Home Value Index. Prices in the area have increased 7.1 percent over the past year, and Zillow projects that they will stay about the same over the course of the next year.
Some homes in West Linn 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 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 West Linn All Reverse Mortgage® is here to answer your questions. Access our online calculator to estimate your reverse mortgage lending limit or call us Toll Free (800) 565-1722
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently brought exclusive offers to our valued West Linn 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 literally all 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 West Linn, 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!"|