Owyhee County Idaho Reverse Mortgage

Your Owyhee County Reverse Mortgage Guide

Welcome to Owyhee County

Are you a homeowner in Owyhee County looking for financial support in retirement? A reverse mortgage home loan may be the solution you’ve been seeking. This type of loan allows homeowners aged 62 and older to access their home equity without the obligation to make monthly payments. Instead, the loan is repaid when the borrower sells the home or passes away. Reverse mortgage loans can provide a stable financial foundation and allow seniors to age in place with the comfort and security of their own home.

Reverse Mortgage

Explore the possibilities of a Reverse Mortgage! Free yourself from worrying about monthly bills and take back control of your financial future. With a Reverse Mortgage, you can unlock the power of your home’s equity while maintaining ownership of your home. Find out today how you can start on the road to financial freedom.

Learn More about a Reverse Mortgage

Reverse Mortgage for Purchase

Did you know you can use a reverse mortgage to purchase a new home? A reverse mortgage for purchase allows seniors to buy a new home without making any monthly mortgage payments. Instead of getting an upfront lump sum payment like other reverse mortgages, the loan is used to purchase a new primary residence.

Learn More about a Reverse Mortgage for Purchase

HECM to HECM Refinance

A HECM (Home Equity Conversion Mortgage) to HECM refinance, also known as a HECM loan refinance, is a type of reverse mortgage that allows a borrower to refinance an existing HECM loan with a new one. This can be beneficial for several reasons, such as lowering your interest rate, changing the loan terms, accessing additional equity, and improving your financial situation.

Learn More about a HECM to HECM Refinance

Cash Out Reverse Mortgage

A Reverse Mortgage allows you to take cash out of your house and use the equity in your home for the things you want. You can receive your cash as a lump sum, fixed monthly payment, or line of credit.

Learn More about a Cash Out Reverse Mortgage

Jumbo Reverse Mortgage

A Jumbo Reverse Mortgage is a reverse mortgage that allows homeowners to borrow more money than allowed with a traditional HECM reverse mortgage. This is because a Jumbo Reverse Mortgage is not limited by the same lending limits set by the Federal Housing Administration (FHA) for standard HECM loans. With a Jumbo Reverse Mortgage, you can access more of the equity in your high-value home.

Learn More about a Jumbo Reverse Mortgage

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We Provide Reverse Mortgage Loans in the following cities in Owyhee County

Owyhee County Approved Reverse Mortgage Counseling Agencies

HUD Approved HECM Counseling Agencies

The following is the internet website address and telephone number provided by HUD for the purposes of acquiring HECM counseling:

National Counseling Agencies

ClearPoint Financial Solutions
(800) 251-2227
https://www.clearpoint.org/

Money Management International
(877) 908-2227
https://www.moneymanagement.org/

Credit.org
(800) 947-3752
https://www.homeownership.org/

National Foundation for Credit Counseling
(866) 698-6322
https://www.nfcc.org/

Greenpath
(888) 860-4167
https://www.greenpath.com/

Navicore
(866) 855-7736
https://navicoresolutions.org/

Guidewell Financial Solutions
(800) 882-6171
https://www.guidewellfs.org/

NeighborWorks America
(202) 760-4000
https://www.neighborworks.org/

Housing Options Provided for the Elderly (HOPE)
(844) 432-6467
https://hopeforseniorsstl.org/

Idaho Counseling Agencies

Agency Name: IDAHO HOUSING AND FINANCE ASSOCIATION
Agency ID: 81204
Address: 565 WEST MYRTLE
BOISE, ID 83702-7675
Phone: (855) 505-4700
Website: www.idahohousing.com

Agency Name: IDAHO HOUSING AND FINANCE ASSOCIATION
Agency ID: 83781
Address: 565 W MYRTLE
BOISE, ID 83702-7675
Phone: (855) 505-4700
Website: www.idahohousing.com

Agency Name: POCATELLO NEIGHBORHOOD HOUSING SERVICES, INC
DBA NEIGHBORWORKS POCATELLO
Agency ID: 80870
Address: 206 N ARTHUR AVE
POCATELLO, ID 83204-3104
Phone: (208) 232-9468
Website: https://nwpocatello.org/

Owyhee County Idaho Frequently Asked Questions

How does a Reverse Mortgage work in Owyhee County Idaho?

A reverse mortgage in Owyhee County, Idaho, works similarly to a reverse mortgage in other parts of the country. The basic principle is that it allows homeowners 62 years of age or older to borrow money against the equity in their home without having to make monthly payments. Instead, the loan becomes due when the borrower moves out of the house permanently, sells the home, or passes away.

To obtain a reverse mortgage in Owyhee County, Idaho, the borrower must meet with a reverse mortgage lender and go through a counseling session to ensure that a reverse mortgage is a suitable choice for them. The lender will also appraise the home to determine its value and the amount the borrower is eligible to borrow.

Do I make mortgage payments on my Reverse Mortgage in Owyhee County?

No, you do not have to make payments on your reverse mortgage. You are still obligated to pay your property taxes, homeowners insurance, general home maintenance and upkeep, and any HOA fees, if applicable. The benefit of a reverse mortgage is that you do not have to make a regular monthly mortgage payment.

What qualifies for a reverse mortgage in Owyhee County?

A reverse mortgage loan is only available to seniors who are age 62 or older. This type of loan has been designed to help provide a solution to allow seniors access to equity in their homes while still living there. To qualify for a reverse mortgage, you must:

  • The youngest borrower on the loan must be 62 years old or older
  • Having an existing mortgage loan balance is OK as long as there is sufficient equity in the home
  • It must be your primary residence, not rental homes or vacation homes
  • Reverse mortgage loans are available as refinance or purchase loans.

How do I receive my money when I get a reverse mortgage?

With a Reverse Mortgage, borrowers have the flexibility to choose how they want to receive their loan proceeds. This can include receiving the funds in one lump sum, periodically accessing them through a line of credit, receiving regular monthly payments, or a combination of these options. Speak with a licensed Reverse Mortgage Lender to discuss your options.

About Owyhee County Idaho

Welcome to Owyhee County, Idaho! Nestled in the southwestern corner of the state, Owyhee County is a hidden gem waiting to be discovered. With a population of just over 11,000, Owyhee County is a small but vibrant community.

The county was first established in 1864 and was named after three Hawaiian fur trappers who were the first non-Indigenous explorers to visit the area. Since then, Owyhee County has grown to become a thriving community.

If you're looking for outdoor activities, Owyhee County has plenty to offer. From hiking and camping in Bruneau Dunes State Park to fishing and boating on the Snake River, there's something for everyone. There are also plenty of local parks and community centers to explore.

For those looking for educational opportunities, Owyhee County is home to several schools, including Homedale High School and Marsing Elementary School.

No matter what you're looking for, Owyhee County has something for everyone. So come explore the hidden gem of Owyhee County and discover why it's a great place to live, work, and play!

Things To Do In Owyhee County

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Top Sights in Owyhee County, ID


Morley Nelson Snake River Birds of Prey National Conservation Area

East Owyhee Avenue

Bass Run Lane

West Oregon Avenue

Walker Lane

Dines Lane

West Pershall Road

1st Street North

Bonanza Lane

West California Avenue

East Market Road

Marsing

Well Road

South Jump Creek Road

South 7th Street West

Browns Lane

Bachman Grade Road

West Arizona Avenue

Spivey Road

South 2nd Street East

North Edison Road

Red Rock Road

Rio Grande Court

Cascade Avenue

Whispering Hills Drive

West Colorado Avenue

Maybon Lane

West Nevada Avenue

Jump Creek Falls Trail Head

Bruneau Canyon Overlook

Bruneau Dunes State Park Observatory

Wees Bar

Owyhee River Wilderness

Shoshone Paiute Tribe Parks

Hayden Peak

Hemingway Butte

War Eagle Mountain

Dickshooter Creek

C J Strike Reservoir

Pole Creek Wilderness

Big Jacks Creek

Jump Creek Canyon

Jump Creek Falls

Bruneau-Jarbidge Rivers Wilderness Area

Big Jacks Creek Wilderness

North Fork Owyhee Wilderness

Deer Flat National Wildlife Refuge

Melba

Idaho 78

Ross Road

Street Names in Owyhee County, ID

2nd Street E 3rd Street E Audrey Drive Austrian Settlement Road Bear Drive Briar Drive
Cascade Avenue Cascade Drive Cemetery Road Chapparal Dines Lane Drum Lane
Durango Drive E Canyon Loop Road E Colorado Avenue E Idaho Avenue E Lane E Lootens Lane
E Montana Avenue E Oregon Avenue E Owyhee Avenue E Selway Drive E Thompson Road E Utah Avenue
E Washington Avenue E Wyoming Avenue Egurrola Lane Fox Run Road Frontier Lane Graveyard Point Road

Reverse Mortgage Regulations

HUD – The United States Department of Housing and Urban Development is one of the executive departments of the U.S. federal government. It administers federal housing and urban development laws. They state, “Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is a Home Equity Conversion Mortgage (HECM) which is only available through an FHA-approved lender. The HECM is FHA’s reverse mortgage program that lets you withdraw a portion of your home’s equity.”

Consumer Finance Protection Bureau – The Consumer Financial Protection Bureau is an agency of the United States government responsible for consumer protection in the financial sector. They state, “A reverse mortgage is a special type of home loan only for homeowners who are 62 and older. With a reverse mortgage, the amount the homeowner owes goes up–not down–over time.”

NMSL – The Nationwide Multi-State Licensing System and Registry is the record system for non-depository financial services licensing.

NRMLA – The National Reverse Mortgage Lenders Association (NRMLA) is a professional association that serves as an educational resource for the Reverse Mortgage community. The NRMLA was established in 1997 to promote professionalism and provide support and guidance to lenders and education borrowers. In addition, they prioritize educating consumers on the advantages and disadvantages of obtaining a reverse mortgage, ensuring borrowers make informed decisions.  They also provide training for mortgage professionals, enforce a code of ethics, and advise policymakers on reverse mortgage issues.

Reverse Mortgage Lenders near Owyhee County

Call us for a free, no-obligation consultation about your Reverse Mortgage options. One of our licensed professionals will answer your questions without the hassle of a sales pitch. You’ll learn what programs you may qualify for and discover the best options that will suit your situation.

We are proud to serve the residents of Owyhee County. We have been in the mortgage lending business since 2002 and would be happy to provide additional testimonials and references to clients we have worked with. We look forward to serving you and welcome the opportunity to meet and discuss your individual needs.

Reverse Mortgage Resource Center
Phone: 385-503-2224

Reverse Mortgage Resource Center – Owyhee County

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REVERSE MORTGAGE RESOURCE CENTER ~lIVE lIFE ON yOUR tERMS~


Our Lending Team has been serving our clients since 2004. We are passionate about serving our clients with integrity to help them achieve their financial goals.