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At Northwest Reverse Mortgage, we help homeowners 55+ understand how reverse mortgages really work—without pressure, confusion, or big-lender runaround. Whether you’re exploring retirement options, refinancing, or purchasing a new home, our job is to give you clear answers so you can make the best decision for your future.
Your home can be an important financial resource in retirement. We help homeowners aged 55+ understand how their home equity may be used to support their lifestyle—without required monthly mortgage payments.
If you’re exploring your options, our team is here to provide clear guidance and answer your questions. Fill out the form below and we’ll help you determine whether a reverse mortgage may be worth considering for your situation.
13220 SE 172nd Ave Ste #172, Happy Valley, OR 97086
Reverse mortgages often come with questions—and that’s a good thing. Below are answers to some of the most common concerns we hear from homeowners considering a reverse mortgage. Our goal is to provide clear, straightforward information so you can feel confident and informed as you explore your options.
A: A reverse mortgage works by allowing someone aged 62 or older access to a portion of the equity in their home with no monthly mortgage payments due on what is borrowed. Many people use reverse mortgages to get rid of their current monthly mortgage obligation, open a line of credit that cannot be frozen, can grow over time, and requires no monthly mortgage payments; you can even purchase a new home with a reverse mortgage and live there with no monthly mortgage payments.
A: The optimal time to get a reverse mortgage is when home values are high and interest rates are low- this allows borrowers to maximize their benefit.
A: A reverse mortgage can provide additional discretionary income by eliminating a current monthly mortgage payment or giving access to home equity as cash, a line of credit, or monthly payments to the borrower allowing for more wiggle room in a budget and possibly giving the client the option of delaying social security or accessing other retirement funds.
A: Yes. You can sell the home at any time you decide. When the home is sold, the loan balance must be paid in full to satisfy the contract. Anything earned from the sale over the amount due on the loan is yours to keep.
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