In 2024, there were 17 active reverse mortgage loans in St. Martin Parish, Louisiana. The average home value in St. Martin Parish is $170,523.94.

Click here to get a reverse Mortgage Quote in St. Martin 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 St. Martin Parish

St. Martin Parish is located in the state of Louisiana and is known for its vibrant culture, rich history, and Cajun heritage. The parish is home to a diverse population and enjoys a moderate climate with warm summers and mild winters. With an average home value of $170,523.94 and an average property tax of $587.69, St. Martin Parish offers an affordable cost of living for its residents. The average interest rate in the area is 4.16%, making homeownership accessible to many. For seniors in St. Martin Parish, exploring options like reverse mortgages can provide financial flexibility and security in retirement. Reverse mortgages allow eligible homeowners aged 62 and older to convert a portion of their home equity into cash, which can be a valuable financial tool for seniors looking to supplement their retirement income or cover unexpected expenses. Considering the affordable property values and tax rates in St. Martin Parish, seniors may find that a reverse mortgage can help them make the most of their home investment in later years.

Reverse Mortgage Loan Origination in St. Martin Parish

Reverse Mortgage Home Values in St. Martin Parish

Reverse Mortgage Interest Rates St. Martin Parish

There are approximately 17 active reverse mortgage loans in St. Martin Parish. The average interest rate in St. Martin Parish is 8.07% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in St. Martin Parish was $160,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in St. Martin 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 St. Martin Parish, LA

With the average home value of $160,000.00, 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 St. Martin 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 St. Martin 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 »