Reverse Mortgage (HECM) Guide for Oregon Homeowners 62+
Oregon has approximately 310,000 homeowner households led by someone 62 or older. The state's median home value of $436,000 — elevated by Portland metro, Bend, and the Willamette Valley — means many Oregon seniors hold significant equity. For retirees in one of the West's more expensive states, a HECM can provide meaningful supplemental income without requiring a sale.
Source: U.S. Census Bureau ACS 2022 1-Year Estimates (Table B25077); U.S. Census Bureau ACS 2022 1-Year Estimates (Table B25007)
Check My Eligibility — Free & No Obligation2026 FHA HECM National Lending Limit
Oregon's median home values fall well below the 2026 FHA HECM limit of $1,249,125, so most Oregon homeowners can access the full available equity through a HECM. High-end Portland neighborhoods and Bend vacation-adjacent markets are unlikely to reach the cap.
Source: HUD Mortgagee Letter 2025-21
Oregon Reverse Mortgage Protections
Oregon has meaningful state-level protections that go beyond the federal HUD mandate. Under Oregon Revised Statutes § 86A.188, lenders must provide borrowers with a written summary of the total estimated loan costs and a disclosure of the homeowner's right to a cooling-off period before closing. Oregon also requires disclosure of alternatives to a reverse mortgage (such as property tax deferral) before an application may proceed.
Source: Oregon Revised Statutes § 86A.188; Oregon Division of Financial Regulation
How Much Could You Get? — Oregon
Adjust your age and home value to see a quick estimate. Full calculator →
Estimate based on HUD PLF tables at 6.5% assumed expected rate. Actual amounts depend on formal appraisal and lender terms.
See if you qualify →Source: HUD Principal Limit Factor tables · HUD HECM page
Find a HUD-Approved HECM Counselor in Oregon
Before you can apply for any HECM, federal law requires a one-on-one counseling session with an independent HUD-approved counselor. This is not optional — no FHA-approved lender may accept your application without a valid counseling certificate. The session covers how HECMs work, costs, alternatives, and your rights as a borrower. It typically takes 60–90 minutes and can be done by phone.
Find a HUD Counselor in Oregon →This link opens the HUD HECM Counselor search tool. Filter by state (OR) to find agencies near you.
The 6 Basic HECM Eligibility Requirements
These are the same federal requirements that apply to every HECM in every state, including Oregon.
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Age 62 or older The youngest borrower on the title must be at least 62.
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Your primary home You live in this home as your main residence — not a vacation or rental property.
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Significant home equity You own the home free and clear, or have paid down most of the mortgage — generally 50% or more equity.
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Located in an eligible state FHA HECM is available in all 50 states, Washington D.C., and U.S. territories — including Oregon.
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No existing reverse mortgage Standard HECMs are for first-time reverse mortgage borrowers. Other options exist if you've had one before.
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Plan to stay in your home A HECM is designed for homeowners who intend to remain in their home long-term.
See if a HECM may fit your situation — Oregon homeowners.
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HECM Questions for Oregon Homeowners
Are HECMs available in Oregon?
Yes. HECMs are available statewide in Oregon, including Portland, Salem, Eugene, Bend, and rural communities. Any FHA-approved lender licensed in Oregon can originate a HECM.
Does Oregon require additional reverse mortgage counseling?
Oregon reinforces the federal HUD counseling requirement with state-specific disclosures. Lenders must provide a written cost summary and disclose alternatives — including Oregon's property tax deferral program — before accepting any application. The required HUD counseling session must occur before any application is submitted.
How do Oregon property taxes interact with a HECM?
HECM borrowers must keep property taxes current. Oregon offers a Senior Property Tax Deferral program for qualifying homeowners 62 and older with household income below $45,000. This program allows homeowners to defer property taxes (which become a lien payable when the home is sold) — but note that an existing HECM may affect eligibility for this deferral. Consult a HUD counselor or tax advisor before combining programs.
What if I have a HELOC on my Oregon home?
An existing HELOC must be paid off and the line closed at HECM closing. The payoff typically comes from HECM proceeds. Oregon lenders will require clear title before disbursement.
Where can I find a HUD-approved HECM counselor in Oregon?
Use the HUD HECM Counselor Search (link above) filtered to Oregon. Agencies are available in Portland and Salem; phone counseling is available for rural and coastal Oregon. Counseling is required by federal law before any HECM application.
Back to Main Guide
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HomeBridge Home →Eligibility Checklist
Review all six HECM eligibility requirements in detail.
View Eligibility Checklist →Other State Guides
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California HECM Guide → Washington HECM Guide →HECM Education Hub
Deepen your understanding before talking to a lender. Our plain-language guides cover how HECMs work, who qualifies, and what protections you have.
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