In 2024, there were 209 active reverse mortgage loans in Yakima County, Washington. The average home value in Yakima County is $369,000.39.

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

Yakima County is located in Washington state and is known for its diverse agricultural industry, particularly its production of apples, cherries, and hops. The county is home to approximately 250,873 residents and boasts a moderate climate with warm summers and mild winters. With an average home value of $369,000.39, and an average property tax of $2,226.66, Yakima County offers a desirable real estate market for potential homeowners. For seniors looking to tap into their home equity, the county’s average interest rate of 4.38% makes it a favorable environment for considering a reverse mortgage. This financial option can provide older homeowners with a source of income while allowing them to continue living in their homes in the beautiful Yakima County.

Reverse Mortgage Loan Origination in Yakima County

Reverse Mortgage Home Values in Yakima County

Reverse Mortgage Interest Rates Yakima County

There are approximately 209 active reverse mortgage loans in Yakima County. The average interest rate in Yakima County is 7.53% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Yakima County was $360,200.00 in 2024.

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

With the average home value of $360,200.00, 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 Yakima 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 Yakima 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 »