Beaverton Reverse Mortgage Loans
Many Seniors today are using a Beaverton reverse mortgage to enhance their retirement. The Home Equity Conversion Mortgage or (HECM) is the government insured mortgage provided by private lenders and insured by the Federal Housing Administration.A reverse mortgage may be a good option for you if you would like to:
- Live independently in your own home and maintain ownership
- Make home improvements and other enhancements
- Eliminate the monthly principal and interest payment on your mortgage
- Have more liquidity with a line of credit
The question that most people ask is how exactly does this all work.
You may qualify if:
- One homeowner is at least 62 years’ old
- The home is your primary residence
- The loan proceeds are enough to pay off your existing loan and closing costs
- Pass Financial Assessment in underwriting
Reverse Mortgages Broker Beaverton OR
The best way to find out if a Beaverton reverse mortgage is right for you is to begin with education. Our President, John Barlow, has written an informative book called “Understanding Reverse Mortgages”. He discusses all of the ins and outs of this product and shows three examples of clients using a Beaverton reverse mortgage who have different situations. You can find the book here on Amazon, www.amazon.com/author/jbarlow. The next phase is to give us a call to see what your loan proceeds will be and which advantages apply to you. The loan amount will be determined by the appraised value or max claim amount, age of the youngest borrower or a non-borrowing spouse, and the expected interest rate.Reverse Mortgage Beaverton OR
Sound Financial Mortgage LLC believes in supplying our customers with a solid education, outstanding service, and a wide variety of product options to meet your needs. We believe in honesty and integrity and we will always work to maintain your trust. If you are interested in learning more about Beaverton reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Beaverton reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Beaverton
- To receive personalized Beaverton reverse mortgage information
- Like to learn more about how it works and if it is right for you
- To find out more information about reverse mortgages
- If you are interested in learning more about the advantages vs. disadvantages
- If you would like more information on reverse mortgage counseling
- To determine eligibility requirements and how much you may qualify to receive
Beaverton Tidbits
People known as Atfalati originally inhabited the Beaverton region and the Tualatin Valley. Later, some Westerners mispronounced the name as Tualatin. The tribe was a hunter/gatherer group that relied less on animals than plants for their food. They made use of many different plant materials for making their personal effects, houses, and clothes. During the late 1700s, the population of the Atfalati People declined considerably, although they were prosperous.The Native Indians inhabited a village named Chakeipi located on the Fanno and Beaverton creeks. In the native language Chakeipi translates into "place of the beaver". However, the small community was known as Beaverdam to early settlers and later renamed to Beaverton.
Westerners first arrived in the Pacific Northwest in 1792 when an American named Robert Gray opened the door to exploration by sailing into the Columbia River. A British lieutenant named William Broughton, who served under a captain named George Vancouver, explored 100 miles upriver later that same year. Along the way, Lt. Broughton named a point of land next to the shore after George Vancouver.
In 1806, Lewis and Clark led the first overland expedition to the northwest. They camped close to what is currently known as Vancouver on their return trip.
A man named Lawrence Hall took up what is currently known as Beaverton during early 1847, and was the location of the first land claim. Close to what is currently known as Walker Road is where Mr. Hall and his brother built a grist mill. Along with others that were soon built in the region, their mill was instrumental in supporting the early agricultural communities in Oregon.
Wood products and logging were also other important industries in early Oregon. In 1949, a man named Thomas Denney and his wife Berrilla arrived in Oregon and soon opened the first sawmill in what is currently known as the Beaverton region.
In order to transport wood and agricultural products for shipment to Portland, it became increasingly important to development a system of roads as more people arrived in the region. In 1850, plank roads were built to Hillsboro from Portland next to Canyon Road. The Portland-Tualatin Valley Plank Road Company was established by territorial government to accomplish this work. By 1860, in spite of several financial setbacks, this road was completed all the way to Beaverton.
In 1868, the small farming community started to grow largely as the result of the railroad. The year 1893 brought the incorporation of Beaverton as a city that had a population of 400 people. A local businessman named Alonzo Cady became the first mayor.
The first postmaster in the community was a man named George Betts, who was appointed in 1872. Mr. Betts owned a general store which became the home of the post office.
In 1925, on the second floor of the Cady building, the first library was opened in Beaverton. In 1941, the library was relocated to the old fireman's hall after being taken over by the city government. The library was relocated again to a building of First Street in 1948. Once again it was relocated to Hall Street, and remained there until 1980. The library was then relocated to Allen Boulevard in 1984. In 2000, a new Library was built at the intersection of Hall Boulevard and Fifth Street.
In 1910, the first bank in the community was founded known as the Bank of Beaverton. On the corner of Watson and Farmington, a new Spanish colonial was built in 1923 to house the bank. The Arthur Murray Dance Studio is the current occupant of the old bank building.
The ladies of the Beaverton Grange designed a plan to help pass the Oregon vote for women's suffrage in 1912. All of the men were requested to attend and vote on the issue at the Grange Hall. Some of these men had to travel a long distance by horse and buggy. The men voted for passage of the vote after they enjoyed a great meal prepared by the ladies who pleasantly suggested that the men vote in favor of the female gender.
During the 1920s, the exciting and glamorous world of motion pictures changed the face of Beaverton. Premium Picture Productions built a movie studio close to Erickson Street. Local residents often had small work on parts or worked as extras. Before going bankrupt in 1925, the film company made around 15 motion pictures.
The 32-acre site for the studio was converted into an aircraft factory and hanger after Premium Picture Productions closed down. Behind the Beaverton film venture was the aviation enthusiastic and financier named Dr. Watts. The good doctor built Watts Airport. Next to what is currently known as Sixth Street and the west side of Erickson was the location of the hanger. It wasn't long before Beaverton was where aircrafts were being built and tested and an increasing number of pilots were using the Watts airstrip. A man named Charles Bernard was approached after the location had become outgrown. Mr. Bernard had constructed more wood frame hangars parallel to what is currently known as Cedar Hills Blvd. The home-built aircraft industry in Beaverton was flourishing. At one time, Bernard Airport was the oldest continuously operated airport in Oregon.
