Hillsboro Reverse Mortgage Loans
Many Seniors today are using a Hillsboro 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 Hillsboro OR
The best way to find out if a Hillsboro 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 Hillsboro 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 Hillsboro 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 Hillsboro reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Hillsboro reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Hillsboro
- To receive personalized Hillsboro 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
Hillsboro Tidbits
In 1850, Valentia Hill and his brothers arrived in what is currently known as Hillsboro. The Hill Brothers were the namesake of the community. During changing times, Hillsboro has an impressive history of creating new opportunities. The man who made the first land claim in the area was named Albert Field. A German immigrant from New York named Edward Klopfleisch and a man named Otto Hammer were both the original owners of the plat of the community. They were influential in bringing investors and newcomers to the small community to start businesses and build homes in the region during the middle 1800s.An Admiral named Marc Mitscher was one of the most celebrated residents of Hillsboro. Admiral Marc Mitscher served 41 years in the US Navy and was born in Hillsboro in 1887. During WWI, he served as Commander of Task Force 58 in the Pacific and ultimately became the Commander in Chief of the US Atlantic Fleet. In 1919, he took part in the first trans-Atlantic flight of Navy airplanes and in 1934 he commanded the first nonstop Navy flight to Pearl Harbor from San Francisco.
The sawmill was one of the first businesses that was developed. The sawmill made the lumber required for building new homes and was followed shortly thereafter by a grist mill next to the Baraboo River. Next came a new school, hotel, blacksmith shop, and store.
During the 1880s, when the price for wheat increased, dairy farming arrived in the region. During the same time frame, the first creamery was established, which, in 1889, was followed by the Farmers Creamery Company. It wasn't long before Hillsboro began producing many dairy products and shipped butter as far away as Chicago. In early 1924, cheese was being produced, and milk from Hillsboro was being delivered to US soldiers on the front lines fighting in Europe during WWI.
The changing business landscape in Hillsboro had also produced everything from fertilizer to pickles, lumber to cement products, and bowling pins. The community also supported a sewing factory, a garment factory that produced materials for the US Army, a cannery for local vegetables, and a brewery that produced such fine beers as Bohemian Club and Hillsboro Pale over the years.
In a second story of a building downtown, what became known as the Hillsboro Hospital was founded by a doctor named Hansberry in 1911. A woman named Miss Mary Crowley became the first nurse. A large house was bought and the Hansberry Hospital was formally established in 1914. Additions, purchases of equipment, and many years of improvements started in 1925. Eventually the small hospital got larger. The hospital was renamed to Saint Joseph's Health Services in 1949. Efforts started to build a new facility. In 1953, a new hospital was dedicated, and the old Hansberry Hospital was remodeled into a home for the elderly.
The earliest of settlers to the Hillsboro area were primarily of German descent. Immigrating Czechs started arriving in Hillsboro from the Bohemian region of what is currently known as the Czech Republic during the middle 1800s. They were attracted to this region because it was somewhat like the land that they had left behind. They brought their culture, foods, and traditions with them.
During the 1870s, railroads were crisscrossing western Oregon. This changed the lifestyle and the economy of the small, remote communities such as Hillsboro. The railroads brought another wave of immigrants including Germans, Swiss, Scandinavians, and Dutch, who all settled on farms in the valley in addition to making the exchange of durable materials and goods possible. Also, finding home in the valley were some Japanese and Russian immigrants by 1900.
Between 1908 and 1912, Hillsboro became home to two electrical rail lines. Residents of Hillsboro could work in Portland for the first time. The population of Hillsboro had increased to 2,000 people by 1910. Automobiles became the preferred means of travel during the 1920s and by 1930, the electric railroads were a thing of the past. Canyon Road linked country market roads, the Tualatin, and Portland and eventually, highways to the Oregon Coast were paved. In 1940, Oregon Highway 8 was completed. In 1948, US 26, also known as Sunset Highway, was completed.
Czechs weren't the only people to discover their new home in the Hillsboro region. The land between Ontario and Hillsboro was once known as Cheyenne Valley and following the Civil War, it became home to African American settlers. A drive through the countryside that surrounds Hillsboro still demonstrates the influence of Alga Shivers, who was the builder of some of the best round barns in the area and son of African American settlers. This region also contains one of the largest concentrations of these unique barns in the US.
The Amish community in Hillsboro is another culture that has made a home, and is still flourishing in the nearby farmlands. Their unique craftsmanship and simple lifestyle make the Amish a valued part of the local culture.
