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Seattle, Washington

HECM mortgage help for Seattle homeowners

Plain-English guidance from Jason Gray, NEXA Lending, for homeowners 62+ in Seattle and nearby communities.

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Older couple smiling on the porch of their home

Seattle homeowners who have been in their homes for decades often tell me the same thing: they love their neighborhood, their neighbors and being close to family, and they'd like to stay. A HECM mortgage may help some of them do that, by turning part of their home equity into funds they can use, with no monthly mortgage payment required.

Seattle housing is varied. A craftsman bungalow in Ballard, a split-level in West Seattle and a condo on Capitol Hill each raise different questions. Condos, for example, may need to meet FHA project requirements, so we'll check your building early.

How a HECM mortgage may help in Seattle

  • Pay off an existing mortgage, so no monthly mortgage payment is required
  • Receive funds as a lump sum, monthly payments, a line of credit, or a mix
  • Keep ownership of your home and stay as long as you meet the loan terms
  • Buy a home that suits this stage of life with a HECM for Purchase

You'll still pay property taxes, homeowners insurance and any HOA dues, and keep the home in good repair. Interest and fees are added to the balance over time.

Home values in Seattle

Many Seattle homes are worth more than the FHA HECM limit. If yours is one of them, I can show you a standard HECM next to a jumbo home equity conversion loan, so you can compare them in writing. For 2026, the FHA HECM maximum claim amount is $1,249,125 (HUD). Learn about higher-value homes.

Who I help

I work with homeowners 62 and older in Seattle and nearby communities such as Ballard, West Seattle, Capitol Hill, Northgate, Beacon Hill, Magnolia, in King County. Adult children, trusted friends and financial advisors are always welcome on our calls.

My simple 4-step process

I've been helping Washington homeowners since 1993. First, a free, no-pressure conversation. Second, HUD-approved counseling, which is usually a phone call of about 30 minutes; I'll give you a list of counselors. Third, I handle the paperwork and coordinate the appraisal, title and escrow. Fourth, we review every number together before you sign, and then you close.

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Seattle questions

Can I get a HECM mortgage on my Seattle condo?
Possibly. For a HECM, the condo project generally needs FHA approval, or it may qualify under a single-unit approval. Some jumbo programs may accept more condos. Send me the building name and I'll check.
My Seattle home is worth more than the FHA limit. What are my options?
A standard HECM only counts value up to the FHA maximum claim amount. A jumbo home equity conversion loan may allow access to more equity on a higher-value home. Terms vary by program, and I'll lay both out side by side.
Who qualifies for a HECM mortgage?
Generally, the youngest borrower is 62 or older, the home is your primary residence, you have meaningful equity, and you can keep paying property taxes, insurance and HOA dues. HUD-approved counseling is required. Some jumbo programs may have different age requirements; ask Jason.
Do I still own my home?
Yes. You keep the title. You remain responsible for property taxes, homeowners insurance, HOA dues and upkeep.

Want a rough idea first? Try the educational estimator. See licensing and disclosures.

Jason Gray, NEXA Lending loan officer

No pressure. No obligation.

Request a free call

Tell me the best time to reach you and I'll call you myself. We'll just talk. Family members are welcome to join.

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Prefer email? jsgray@nexalending.com

I'll only use this to contact you about your question. No credit check, no Social Security number.

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