In 2024, there were 236 active reverse mortgage loans in Clallam County, Washington. The average home value in Clallam County is $555,544.29.

Click here to get a reverse Mortgage Quote in Clallam County, Washington

To avoid scams, make sure you are working with a licensed lender in Washington. South River Mortgage is a fully licensed lender in Washington. The WA state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Consumer Loan Company License in WA, and our state license identifier is CL-1854525.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Clallam County

Clallam County, located in Washington State, is a picturesque region known for its stunning natural beauty and abundant outdoor recreational opportunities. With a population of approximately 77,331 residents, the county enjoys a mild maritime climate influenced by its proximity to the Pacific Ocean and the Olympic Mountains. Clallam County is renowned for its diverse ecosystems, including lush forests, pristine beaches, and the iconic Olympic National Park. In terms of real estate, the average home value in Clallam County is $555,544.29, with an average property tax of $2,715.16 per year. The current average interest rate for mortgage loans is 4.35%, making homeownership an attractive prospect for residents. For seniors looking to leverage their home equity, Clallam County offers the option of reverse mortgages, a financial tool that allows homeowners aged 62 and older to convert part of their home equity into cash without having to sell their home. This can be a useful option for retirees looking to supplement their income or cover unexpected expenses in retirement.

Reverse Mortgage Loan Origination in Clallam County

Reverse Mortgage Home Values in Clallam County

Reverse Mortgage Interest Rates Clallam County

There are approximately 236 active reverse mortgage loans in Clallam County. The average interest rate in Clallam County is 7.54% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Clallam County was $598,783.78 in 2024.

Click here to get a Reverse Mortgage Quote in Clallam County, Washington »

Note that our loan origination data will not exactly match FHA’s HECM portfolio snapshot. This discrepancy occurs because FHA’s reports are limited to loans endorsed by FHA (i.e. HECMs only). We use a series of custom data criteria that make it possible to identify all reverse mortgages: HECMs, proprietary, and even single-purpose reverse mortgages.

Jumbo Reverse Mortgage in Clallam County, WA

With the average home value of $598,783.78, you may be wondering about the opportunities for jumbo loans.

The FHA has increased the HECM lending limit to $1,209,750 for 2025. If your property is valued above the HECM lending limit, you may be eligible for additional proceeds through the HomeForLife jumbo reverse mortgage.

Reverse Mortgage Refinance (HECM to HECM) in Clallam County

It might make sense to refinance your reverse mortgage. There are many situations where refinancing could be very beneficial to you:

• You want to get more cash out because your home value has increased substantially
• You want to pay less in interest by obtaining a lower interest rate
• You want to add a loved one to the reverse mortgage

As a bonus, South River Mortgage can sometimes provide multiple benefits at once, depending on the situation. There have been cases where we can help secure a lower interest rate and additional cash. In some cases, we have been able to do all three benefits: lower rate, more cash, and adding a son or daughter onto the mortgage.

South River Mortgage can help you refinance your reverse mortgage. Get a quote today »

Reverse for Purchase (HECM for Purchase) in Clallam County

You can now purchase a home with a reverse mortgage in {county}, WA. The reverse for purchase lets homebuyers purchase the home and get a reverse mortgage in a single transaction. The requirements for a reverse for purchase are very similar to the traditional reverse mortgage program.

Purchasing a home with a reverse mortgage has many benefits:

• No monthly mortgage payment (although you’d still be responsible for property taxes and homeowner’s insurance)
• The home being purchased would meet HUD’s property requirements or minimum property standards (this helps keep the home safe for occupants)

Learn what your down payment would be using our Reverse for Purchase calculator. Or, get pre-approved today »