In 2024, there were 9 active reverse mortgage loans in La Salle Parish, Louisiana. The average home value in La Salle Parish is $178,152.89.

Click here to get a reverse Mortgage Quote in La Salle Parish, Louisiana

To avoid scams, make sure you are working with a licensed lender in Louisiana. South River Mortgage is a fully licensed lender in Louisiana. The LA state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Residential Mortgage Lending License in LA, and our state license identifier is 1854525.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in La Salle Parish

La Salle Parish is located in the state of Louisiana and is known for its rich history and natural beauty. The population of La Salle Parish is approximately 14,890 residents, enjoying a moderate climate with warm summers and mild winters. The area is renowned for its agricultural industry, particularly in cotton and soybeans, as well as its vibrant local culture and community events. Historically, the parish was named after the famed French explorer René-Robert Cavelier, Sieur de La Salle, who explored the Mississippi River and claimed the region for France in the late 17th century. Today, La Salle Parish offers a peaceful rural setting for residents, with an average home value of $178,152.8889 and an average property tax of $1,442.2411. Seniors in La Salle Parish may benefit from considering a reverse mortgage, utilizing their home equity to supplement their retirement income with the current low average interest rate of 4.13%.

Reverse Mortgage Loan Origination in La Salle Parish

Reverse Mortgage Home Values in La Salle Parish

Reverse Mortgage Interest Rates La Salle Parish

There are approximately 9 active reverse mortgage loans in La Salle Parish. The average interest rate in La Salle Parish is 7.44% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in La Salle Parish was $195,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in La Salle Parish, Louisiana »

Note that our loan origination data will not exactly match FHA’s HECM portfolio snapshot. This discrepancy occurs because FHA’s reports are limited to loans endorsed by FHA (i.e. HECMs only). We use a series of custom data criteria that make it possible to identify all reverse mortgages: HECMs, proprietary, and even single-purpose reverse mortgages.

Jumbo Reverse Mortgage in La Salle Parish, LA

With the average home value of $195,000.00, you may be wondering about the opportunities for jumbo loans.

The FHA has increased the HECM lending limit to $1,209,750 for 2025. If your property is valued above the HECM lending limit, you may be eligible for additional proceeds through the HomeForLife jumbo reverse mortgage.

Reverse Mortgage Refinance (HECM to HECM) in La Salle Parish

It might make sense to refinance your reverse mortgage. There are many situations where refinancing could be very beneficial to you:

• You want to get more cash out because your home value has increased substantially
• You want to pay less in interest by obtaining a lower interest rate
• You want to add a loved one to the reverse mortgage

As a bonus, South River Mortgage can sometimes provide multiple benefits at once, depending on the situation. There have been cases where we can help secure a lower interest rate and additional cash. In some cases, we have been able to do all three benefits: lower rate, more cash, and adding a son or daughter onto the mortgage.

South River Mortgage can help you refinance your reverse mortgage. Get a quote today »

Reverse for Purchase (HECM for Purchase) in La Salle Parish

You can now purchase a home with a reverse mortgage in {county}, LA. The reverse for purchase lets homebuyers purchase the home and get a reverse mortgage in a single transaction. The requirements for a reverse for purchase are very similar to the traditional reverse mortgage program.

Purchasing a home with a reverse mortgage has many benefits:

• No monthly mortgage payment (although you’d still be responsible for property taxes and homeowner’s insurance)
• The home being purchased would meet HUD’s property requirements or minimum property standards (this helps keep the home safe for occupants)

Learn what your down payment would be using our Reverse for Purchase calculator. Or, get pre-approved today »