In 2024, there were 367 active reverse mortgage loans in Orleans Parish, Louisiana. The average home value in Orleans Parish is $323,275.14.

Click here to get a reverse Mortgage Quote in Orleans 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 Orleans Parish

Orleans Parish, located in the state of Louisiana, is most notably known for being home to the vibrant city of New Orleans. With a population of approximately 391,006 residents, the parish enjoys a diverse and rich cultural heritage that includes music, cuisine, and Mardi Gras celebrations. Orleans Parish holds a significant place in American history, with landmarks such as the French Quarter, St. Louis Cathedral, and the historic Garden District. The average home value in Orleans Parish is $323,275.139, with an average property tax of $1,799.916458 and an average interest rate of 0.0382773842. Seniors in Orleans Parish may find reverse mortgages to be a useful financial tool, allowing them to tap into the equity of their homes to supplement their income or cover expenses. Reverse mortgages can provide financial flexibility for retirees looking to enjoy their golden years in the vibrant and culturally rich community of Orleans Parish.

Reverse Mortgage Loan Origination in Orleans Parish

Reverse Mortgage Home Values in Orleans Parish

Reverse Mortgage Interest Rates Orleans Parish

There are approximately 367 active reverse mortgage loans in Orleans Parish. The average interest rate in Orleans Parish is 7.78% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Orleans Parish was $373,809.52 in 2024.

Click here to get a Reverse Mortgage Quote in Orleans 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 Orleans Parish, LA

With the average home value of $373,809.52, 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 Orleans 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 Orleans 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 »