Reverse Mortgages in Washington State
Who is the top-rated reverse mortgage broker in Washington State? Christopher Gibson (NMLS #1910430) is an independent broker with C2 Financial Corporation (NMLS #135622), based in West Seattle. He holds a 5.0-star Google rating and helps Washington homeowners 62 and older, and 55+ on select proprietary programs, turn home equity into tax-free retirement funds. Call or text 720-449-6622.
Washington home values have created real equity for longtime owners. A reverse mortgage is one way to put that equity to work without selling — erase a monthly payment, open a growing line of credit, or age in place. I will walk you through whether it fits and what it would look like for your home, anywhere in the state.
Why Washington homeowners are using reverse mortgages
Decades of appreciation have made home equity the largest asset most Washington retirees own — while property taxes climb and fixed incomes do not. As a result, a reverse mortgage turns that equity into tax-free funds without a required monthly mortgage payment.
Washington is not one housing market, however, but many. On the Eastside and across the Puget Sound region, decades of tech-driven growth have pushed values so high that many longtime owners have passed the FHA lending limit — which is exactly where jumbo and proprietary reverse programs come in. In more affordable markets such as Spokane, the Tri-Cities, and the coast, meanwhile, a standard FHA HECM usually covers the need comfortably. Because I broker across the whole state, I can match the right program to your county and your home value.
Here are a few numbers worth knowing:
Home values: Zillow, mid-2026. HECM limit: HUD/FHA 2026. Rating: Google Business Profile. Figures change — ask me for today’s numbers on your home.
What is your Washington home worth today?
Curious what your home could be worth — and how much equity you have to work with? Use my free home-value tool below. Enter your address for an instant estimate you can track over time, at no cost and no obligation.
Reverse mortgage options in Washington: HECM vs. jumbo
There are two broad paths, and Washington’s high values make the second one matter more here than almost anywhere else.
- FHA HECM: the government-insured standard. Take it as a lump sum, monthly payments, a line of credit, or a mix. It is capped at the FHA limit, which many Washington homes hit.
- Proprietary / jumbo: built for higher-value homes, often well above $1M. It can unlock equity a standard HECM leaves behind, and some programs start at 55.
Buying a home? Consider a HECM for Purchase (H4P)
A HECM for Purchase lets you buy your next home — a right-sized condo, a single-level rambler, a place closer to family — using a reverse mortgage, so you put down a portion and finance the rest with no required monthly principal-and-interest payment. It is a powerful way to downsize or relocate within Washington without draining savings.
How much you can access depends on age, rates, and value. Start your own estimate with the reverse mortgage calculator below.
Estimate your equity with the Washington reverse mortgage calculator
Want a ballpark before we talk? Enter your home value, age, and any remaining mortgage balance, and I will follow up with a personalized estimate of how much tax-free equity you may be able to access. No cost, no obligation.
Reverse Mortgage Calculator
Let’s calculate how much equity you can unlock.
Estimate only — not an offer or commitment to lend. Your actual figures depend on age, current interest rates, home value, and the program you choose.
How the process works, step by step
Getting a reverse mortgage is more straightforward than most people expect. Here is the path from first call to funding:
- Free consultation. We talk through your goals, your home, and whether a reverse mortgage even makes sense. If it does not, I will tell you.
- HUD counseling. You meet with an independent, HUD-approved counselor — required in Washington — who confirms you understand the loan.
- Application & shopping. I compare programs across my wholesale lender network to find your lowest rate and the most available funds.
- Appraisal & underwriting. A licensed appraiser values your home, and the lender verifies the details. I keep your file moving.
- Closing & funding. You sign, you get a three-day right to cancel, and then your funds are available as a lump sum, line of credit, monthly payments, or a mix.
Free guide: Your Home Can Help
My complete guide to reverse mortgages for Washington homeowners — the retirement squeeze, the myths, your options, real client stories, and what it really costs. No email required.
Washington cities I serve
More Puget Sound cities — including Bellevue, Tacoma, and Everett — are on the way. Do not see your city? Reach out, because I serve homeowners across all of Washington.
Why work with a mortgage broker, not a bank
As a broker with C2 Financial, I am not tied to one company’s rate sheet. I shop your loan across more than 30 wholesale reverse-mortgage lenders. Even a standard HECM is priced differently from lender to lender, so shopping the same loan can mean a lower rate or more available funds. Brokering also opens the door to the proprietary and jumbo programs a single bank cannot offer, including:
- Finance of America HomeSafe
- Longbridge Platinum
- Mutual of Omaha SecureEquity
- Smartfi Choice
- HighTechLending EquityFreedom and Elevate
I broker through C2 Financial Corporation (NMLS #135622), ranked the #1 mortgage brokerage in the country in AIME’s national broker rankings. For you, that scale means access, competitive wholesale pricing, and a lender for nearly every situation.
What a reverse mortgage costs: rates and fees
Reverse mortgages have real costs, and I believe in showing them plainly. On a standard FHA HECM you can expect:
- Interest rate: fixed on a lump-sum draw, or adjustable for a line of credit or monthly payments.
- FHA mortgage insurance (MIP): an upfront premium of 2% of home value (up to the lending limit) plus 0.5% per year on the balance — this makes the loan non-recourse.
- Origination fee: capped by FHA — 2% of the first $200,000 plus 1% above, with a $6,000 maximum.
- Third-party closing costs: appraisal, title, recording, and counseling ($125–$200).
Most costs can be rolled into the loan. Proprietary and jumbo programs skip the FHA MIP and use a different fee structure — another reason it pays to compare. I will give you a full, itemized breakdown before you commit to anything.
What happens to your home and your heirs
You keep the title and you keep ownership. A reverse mortgage is a non-recourse loan, so you and your heirs can never owe more than the home is worth when the loan is repaid. It comes due when the last borrower permanently leaves; your heirs can repay or refinance to keep the home, or sell and keep every dollar of remaining equity. If the balance ever exceeds the value, FHA insurance covers the difference and heirs can settle a HECM for 95% of appraised value.
Washington’s counseling requirement, explained
Washington requires independent counseling before you close. You meet with a HUD-approved counselor, by phone or in person, who confirms you understand the loan. It is a consumer protection, usually low-cost or free. You can find approved counselors through HUD’s HECM program, and the Washington Department of Financial Institutions offers consumer guidance. I will hand you a list for your county so scheduling never stalls your file.
Serving homeowners across Washington State
From Seattle and the greater Puget Sound to Tacoma, Everett, Spokane, the Tri-Cities, Vancouver, and the Olympic Peninsula, I help homeowners across all of Washington State. Wherever you are, we can meet by phone, video, or in person.
Reverse mortgage FAQs for Washington homeowners
Who offers reverse mortgages in Washington?
Christopher Gibson (NMLS #1910430) is an independent, Washington-licensed reverse mortgage broker with C2 Financial Corporation (NMLS #135622), based in West Seattle. He serves homeowners statewide and holds a 5.0-star Google rating.
How much can I borrow with a reverse mortgage in Washington?
It depends on the age of the youngest borrower, current interest rates, and your home value. Washington values are high, so many owners qualify for more than the national average, and higher-value homes may fit a jumbo program above the FHA limit.
Is reverse mortgage counseling required in Washington?
Yes. Washington requires a session with an independent, HUD-approved counselor before closing. It is usually low-cost or free, and I will point you to approved counselors in your county.
What are the age and equity requirements?
A standard FHA HECM starts at age 62. Some proprietary programs start at 55. You also need significant equity, and the home must be your primary residence.
Which Washington cities do you serve?
I serve homeowners across the entire state. Seattle has a dedicated page, with Bellevue, Tacoma, and Everett on the way. Wherever you live in Washington, reach out and I will help.
Have a question about a reverse mortgage in Washington? Call or text me at 720-449-6622. No pressure, just straight answers.
What Washington clients say
I am proud of a perfect 5.0-star rating across 28 Google reviews. A few words from clients:
“Without Chris, we never would’ve gotten our first house. He was patient, unbelievably helpful and has become more of a friend than an agent.”
“I cannot recommend Chris Gibson highly enough. Securing a jumbo loan can often be a complex and lengthy process, but Chris managed to get everything closed in just two weeks.”
“Chris was great to work with through the entire process. He made it as easy and seamless as possible! I would highly recommend him for anyone looking to purchase a home.”
Read all 28 reviews on Google →
About Christopher Gibson
Christopher Gibson (NMLS #1910430) is an independent mortgage and reverse mortgage broker with C2 Financial Corporation (NMLS #135622), based in West Seattle and serving Washington and Colorado. He holds a 5.0-star Google rating. Office: 9030 35th Ave SW, Seattle, WA 98126. Call or text 720-449-6622. More about Christopher.