Currently, the HECM (Home Equity Conversion Mortgage) is the most popular reverse loan program in Washington as well as the rest of the country. With a HECM reverse mortgage, you have several options to choose from including fixed rates, adjustable rates and purchase reverse mortgages.
FHA Reverse Mortgages in Washington
Seniors in Washington are really seeing a benefit due to the Government’s passing of the American Recovery and Reinvestment Act of 2009, which increased the national reverse mortgage lending limit to $625,500. What that means to seniors looking to get a Washington reverse mortgage is an increase in the total benefit available to them.
We serve all of Washington, including Bellevue, Bellingham, Bothell, Edmonds, Everett, Federal Way, Kennewick, Kent, Kirkland, Lakewood, Olympia, Puyallup, Redmond, Renton, Richland, Shoreline, Seattle, Spokane, Tacoma, Vancouver and everywhere in between.
For comprehensive reverse mortgage information, please see the links to the left and above. If you would like someone to contact you, please fill out the form to the right.
Washington Reverse Mortgage Numbers
|Washington HECM Originations|
|HUD Field Office||Total Area Originations|
Total for WASHINGTON: 8,343
The above chart shows HECM Loans Originated in WASHINGTON rolled up to the HUD Field Office level Performance Period: Displaying HECM loans that were endorsed within the past year Data shown includes all cases with beginning endorsement date between February 01, 2008 and January 31, 2011. Data sorted by Area Name in Descending Order. Data Source: HUD Neighborhood Watch
Considering a Non-FHA Reverse Mortgage?
Due to the current housing market conditions, we are not able to offer a Washington Jumbo reverse mortgage. Keep checking back periodically, as it is our belief that the jumbo, non-FHA, proprietary reverse mortgage market will be returning soon.