Reverse Mortgages in Washington

Washington has a sizable 65-and-older population, weighted toward the Puget Sound metros (Seattle, Bellevue, Tacoma) and the retiree corridors around Sequim, Bellingham, and Spokane. The federal HECM program governs reverse mortgages in Washington; for readers new to the product, how reverse mortgages work covers the structural basics. Washington does not overlay a dedicated reverse-mortgage statute on top of HUD's rules, but the state has a Washington-specific age floor on the main jumbo program that matters for higher-value Seattle homes.

What reverse mortgage rules are specific to Washington?

Washington does not impose a counseling requirement beyond the federal one. Every HECM borrower must complete an independent counseling session with a HUD-approved agency before the lender pulls credit or orders an appraisal (HUD Handbook 4000.1, Section II.B).

Mortgage loan originators and lenders operating in Washington are licensed and supervised by the Washington Department of Financial Institutions (DFI) under the Mortgage Broker Practices Act, RCW Title 31 (chapter 31.04 for consumer loans, chapter 19.146 for mortgage brokers). Originator records are verifiable through NMLS Consumer Access.

Recording fees are charged by the County Auditor where the property sits. King County charges roughly $200 to $300 for a deed of trust under its surcharge schedule; smaller counties run lower. There is no Washington reverse-mortgage-specific cooling-off period beyond the 3-business-day federal TILA rescission window after signing.

Washington-specific jumbo note: Finance of America sets the minimum age for its HomeSafe jumbo program at 60 in Washington, against 55 for certain HomeSafe products elsewhere, except Massachusetts and New York, where it is 60, and North Carolina and Texas, where it is 62 (Finance of America, HomeSafe program page). Longbridge Platinum and Mutual of Omaha's SecureEquity set their own minimum ages by state, as young as 55 in some states (each lender's product page). Confirm the current Washington floor with the lender or your counselor.

How much can you borrow with a reverse mortgage in Washington?

The Puget Sound market (Seattle, Bellevue, Mercer Island in particular) increasingly pushes borrowers against the federal HECM ceiling, while Tacoma and Spokane sit well below it. That ceiling for 2026 is $1,249,125 under HUD Mortgagee Letter 2025-22 (effective January 1, 2026), and it applies in every Washington county. For a 70-year-old borrower at the current HECM rate range, an illustrative $500,000 Tacoma or Spokane home produces a principal limit of about $175,000–$208,000 before closing costs (HUD PLF table across a 6.0–7.5% expected-rate planning range; an estimate, not a quote). Run the figures in the calculator.

Washington's high Puget Sound values shape its state suitability score, an at-a-glance comparison with the rest of the country.

Do you need counseling for a reverse mortgage in Washington?

Every Washington HECM borrower completes a session with a counselor on HUD's HECM Roster before the lender may process the application (HUD Handbook 4000.1), and FHA's list of HECM counseling agencies shows three based in Washington as of October 7, 2026. Two are in Seattle and one is in Bremerton; each sets its own fee, and the HUD HECM Counselor Roster or 1-800-569-4287 also finds agencies that counsel by phone. The counseling certificate is valid for 180 days (HUD Handbook 4000.1). How to find and prepare for a counselor →

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