Reverse Mortgages in Washington State
Washington homeowners age 62+ can access HECM and proprietary reverse mortgages through licensed brokers and lenders. Washington has specific consumer protections under RCW 19.144 governing reverse mortgage advertising and disclosures.
Washington-specific protections
State law requires clear disclosures about loan terms, counseling, and borrower rights. Verify current statutes with a licensed professional.
HECM limit 2026
FHA insures HECM loans up to $1,249,125 in home value nationwide, including Washington.
High home values
Many Washington markets (Seattle metro, Eastside) exceed the HECM cap. Jumbo/proprietary products may apply for higher values.
Property taxes
Washington property taxes vary by county. Ensure your financial assessment accounts for tax burden, especially if on fixed income.
When this is NOT a good fit
- You cannot reliably pay property taxes, homeowners insurance, and maintenance
- You plan to move within a few years
- You need every dollar of home equity preserved for heirs
- Medicaid or SSI eligibility depends on keeping assets below program limits (consult an elder law attorney)
- You were pressured by a salesperson without time to research alternatives
Washington reverse mortgage FAQ
Are reverse mortgages legal in Washington?
Yes. HECM and proprietary reverse mortgages are available through licensed professionals.
Does Washington have special reverse mortgage laws?
Yes. RCW 19.144 includes consumer protection provisions for reverse mortgage transactions.