In 2024, there were 2789 active reverse mortgage loans in King County, Washington. The average home value in King County is $983,753.28.

Click here to get a reverse Mortgage Quote in King 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 King County

King County, located in the state of Washington, is the most populous county in the state with a population of over 2 million residents. The county is known for its vibrant urban centers such as Seattle, Bellevue, and Redmond, as well as its stunning natural landscapes, including the Cascade Range and Puget Sound. King County has a temperate marine climate with mild, wet winters and warm, dry summers, making it a desirable location for those who enjoy outdoor activities year-round. This area has a rich history, with Native American tribes inhabiting the region for thousands of years before European settlers arrived in the mid-19th century. King County was officially established in 1852 and named after William Rufus King, the Vice President of the United States under President Franklin Pierce. For seniors looking to tap into their home equity, King County’s average home value of $983,753.28, average property tax of $5,071.54, and average interest rate of 4.10% make it an attractive location for considering a reverse mortgage, which can provide financial flexibility and stability in retirement.

Reverse Mortgage Loan Origination in King County

Reverse Mortgage Home Values in King County

Reverse Mortgage Interest Rates King County

There are approximately 2789 active reverse mortgage loans in King County. The average interest rate in King County is 7.69% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in King County was $965,655.17 in 2024.

Click here to get a Reverse Mortgage Quote in King 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 King County, WA

With the average home value of $965,655.17, 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 King 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 King 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 »